July 2005

Cover story

Santander: The masters of retail banking

Santander is one of the most remarkable stories in modern banking. Even the group's highly-ambitious chairman, Emilio Botín, is amazed at how the bank has grown from a small Spanish domestic bank to a place in the global top 10 in just 20 years. He reveals the strategy that has made Santander what it is today.

Getting back to the Abbey habit

Santander's retail banking specialists' biggest challenge to date will be to turn around the fortunes of Abbey. Can the Spanish bank's model be successfully applied to the highly competitive UK market?

Richard Fuld interview: Can Lehman grow and still succeed?

When all around its rivals are spinning off businesses, Lehman Brothers is sticking to a strategy of acquiring rather than relying purely on organic growth. CEO Richard Fuld has exceptional backing inside the firm for this approach. But can the openness and mutual cooperativeness of his managers survive more expansion? Fuld spoke to Euromoney's Antony Currie about Lehman's future.

What Citigroup needs to do next

Citigroup's vision of the ultimate financial company, manufacturing and selling every financial product, is lost. A series of scandals betrayed the fact that the structure Sanford Weill built had reached the limits of its manageability. Charles Prince now has a new plan to put the bank back on track. Will it work?

Awards for Excellence

Awards for Excellence 2005

These benchmark awards highlight high-quality products and services across all areas of commercial and investment banking, regionally and globally.

Roundtables

Business travel poll

Bank atlas

Editorial

Front End

Frank Partnoy: Allow him to be Frank

"Alan Greenspan is positively giddy about the beneficial effects of credit derivatives," said Frank Partnoy at the Euromoney Global Borrowers Forum in London in June.

Market leaders

Debt markets

Structured credit

Foreign Exchange

Corporate finance

Banking, Medici style

A new book explores how the Florentine dynasty lent money and still went to heaven. Mark Johnson looks at the ways in which Italy's fifteenth-century bankers circumnavigated religious prohibitions to make their margins

Equity markets

Electronic – but to what effect?

ECNs have sold themselves by claiming to offer fast, competitive, electronic execution. But research suggests only the electronic claim is true.

Fund management

Asia Pacific

Robert Morse: How Citigroup plans to stay number one in Asia

With a long history in the region, the most extensive network of any bank and a full suite of financial products, Citigroup is the biggest force in Asian banking. Yet it is still facing challenges. Chris Leahy spoke to Robert Morse, chief executive officer, corporate & investment banking, Citigroup Asia Pacific, about the bank's performance in Asia

Latin America

EMEA

Against the tide

Who do they think they’re kidding?

The US economy is in a fool's paradise – Europe and Japan are by no means doomed to lag behind it. But none of these rivals can afford to abandon free trade to cope with China's massive growth

Flipside

Essen steels itself for a brighter future

Germany's industrial heartland, the Ruhr, is adapting well to a world after steel and coal. But when the country's top bankers met there in Essen last month they wondered long and hard about the ability of the rest of Germany to cope with economic change