July 2011

Top stories

Best global bank

Banker of the year

Banker of the Year: Setúbal stays grounded as Itaú flies

Banker of the Year: Setúbal stays grounded as Itaú flies

The rise of Itaú, led by its chief executive, Roberto Setúbal, is one of the success stories of a generation in banking. Consistency and a canny approach to acquisitions have been the key to Setúbal’s achievements. And that is not going to change even as Itaú Unibanco cements its place as one of the world’s largest banks. Rob Dwyer reports from São Paulo.

Best global investment bank

Best Global investment bank 2011: Barclays Capital muscles into investment banking big league

Best Global investment bank 2011: Barclays Capital muscles into investment banking big league

Already a powerhouse in FICC, Barclays Capital is muscling its way into the upper echelons of global M&A advisory and equity capital markets. Its three-year investment programme to build global franchises on the back of Lehman’s US rump is nearly done. The firm’s bosses promise shareholders that they are about to reap the dividends and that revenues and income will flow in. The handful of leading global investment banks have a new competitor to deal with.

Private banking debate

Middle East private banking debate: The region reconsiders its wealth needs post-crisis

Middle East private banking debate: The region reconsiders its wealth needs post-crisis

Local and international players are trying to break into the growing onshore Middle East private banking market. But dealing with the world’s wealthiest families poses big challenges. In the first part of Euromoney’s Middle East roundtable on private banking, participants discuss their individual models, and how the financial crisis has affected their clients.

Banking news

Markets news

Asia news

Chinese stock scandal: US-listed go private

More Chinese companies listed in the US are considering going private as scandals dogging the sector harm their valuations, according to investment bankers working with those companies.

Latin America news

EEMEA news

Hungary gives details of mortgage relief plan

The Hungarian government last month announced details of its long-awaited mortgage relief plan, designed to help households deal with rising repayments on loans denominated in foreign currencies following the depreciation of the forint against the Swiss franc and euro.

Comment

BIS: A time for unity

The IFC’s response to the banking crisis in emerging Europe could offer guidance for those seeking a solution to Greece’s woes.

Columns

Macaskill on markets: Settlement keeps JPMorgan’s reputation intact

JPMorgan did a fine job in downplaying the significance of its recent payment of $153.6 million to the SEC to settle accusations of fraud over a mortgage-backed CDO squared product from 2007. The SEC had alleged that JPMorgan was negligent in failing to disclose the role that hedge fund Magnetar played in selecting the mortgages in the synthetic CDO, then taking the short side of the credit derivatives trades used to create the portfolio.

Editor's letter: China stock scammers driven by lack of alternatives

Amid the storm of accusations, counter-accusations and recriminations that has characterized the developing China overseas-listed stock scandal, much more has been written and said about the question of whether the companies involved are scams than what might have driven these alleged frauds to mislead their investors in the first place.

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