May 2018

May 2018

The dark heart of banks’ digital transformation

Banks already have the largest attack surfaces and face the widest range of attackers and attack types of any businesses. Now with their strategies dependent on rapid digital transformation, they are exposing themselves to a potentially existential threat on an ever-expanding cyber battlefield.

Top Stories

Special Focus

Investors grapple with cyber risk

Investors grapple with cyber risk

Fund managers understand that cybersecurity is one of the biggest threats to banks. They don’t yet have the tools to properly assess it. But if the data drought were to end, cyber-strategies could become an integral part of their investment decisions

Cybersecurity: A different kind of banker

The cybersecurity challenge has forced banks to hire a new breed of professional, often from national security services. But cultural issues can make staffing a cyber team difficult

Banks lead the fight against cyber risk

Risk management is in banks’ DNA. They have some of the largest cyber-risk management teams and budgets around – and senior management is taking the threat seriously. But are the banks secure? Can they drive cybersecurity down the supply chain?

Banking

Capital markets

Fintech

Fintech: The cold, hard facts of bitcoin mining

Fintech: The cold, hard facts of bitcoin mining

Soviet military bunkers in Kazakhstan and portable houses in Siberia linked up to the plumbing: Bitcoin mining is moving in some interesting directions that will become even more diverse as China cracks down on its domestic industry.

Western Europe

Banking: After wolves, Ireland fends off vultures

Banking: After wolves, Ireland fends off vultures

The near collapse of Ireland’s banks during the financial crisis did little to endear them to the nation. Now, as they return to profitability, the banks find themselves involved in another political controversy; this time over their attempts to sell off non-performing loans.

Which way next for ABN Amro?

Despite healthy profits, is Kees van Dijkhuizen doing enough to close the digital gap with ING – and what happens when the Dutch mortgage market turns? Are the chief executive and his team capable of forging a longer-term rationale for the bank?

Latin America

Emerging markets

Bulge bracket finds slim pickings in emerging Europe

Bulge bracket finds slim pickings in emerging Europe

Appetite for acquisitions in the outperforming economies of emerging Europe is booming, despite political concerns. Deal flow remains concentrated in the mid-market, however, as a shortage of opportunities frustrates would-be big-ticket buyers.

Asia Pacific

Emerging Europe

Kazakhstan Belt and Road Initiative: The road to somewhere

Kazakhstan Belt and Road Initiative: The road to somewhere

Khorgos, a new state-of-the-art port in the middle of the Kazakh desert, sums up the grand ambitions of the Belt and Road Initiative. But it is as much driven and funded by Kazakhstan as it is by China. Rather than being a white elephant, it has real implications for trade.

CSR

CSR: Time's up for finance's gender pay gap

CSR: Time's up for finance's gender pay gap

Gender pay gap disclosure has arrived in the banking industry, but a movement that aims to bring gender equality across the whole financial sector is just beginning. Euromoney speaks to some of the pioneers.

CSR: Failure not an option for First Women Bank

Tahira Raza was among Pakistan’s pioneering FWB's first employees 30 years ago, with a mission to advance female empowerment in the country. Having returned as chief executive, she is battling to compete with bigger local rivals.

Comment

Sideways: The ties between Wall Street, regulators and White House

If the Securities and Exchange Commission (SEC) does decide to weigh in on the issue of whether or not Blackstone’s trading in Hovnanian debt and default swaps constitutes market manipulation, it will revive questions about SEC chairman Jay Clayton’s ties to Goldman Sachs.

Sewing parrots Cryan

Christian Sewing has been painted as the stern cost disciplinarian and man of action, so he had to unveil something decisive-sounding at his first results call — even if it smacks of tokenism

Columns

Front End

IT hits the fan at TSB

When TSB chief executive Paul Pester finally released a statement on the debacle of the bank’s migration to a new platform over the weekend of April 21, he declared that “the engine room of the bank is working as it should”, though its internet banking and mobile app “isn’t functioning as well as it should be”.