It is not all bad news at Royal Bank of Scotland.
"I’m a new kind of thug with a Washington buzz ‘coz dealing debt pays better than dealing drugs." Watch the video here.
Consolidation among investment banks has had a big impact on the equity capital markets league table results in 2008 and will do so again in 2009.
Credit Suisse has announced the formation of a new group in its EMEA global markets solutions business (GMSB) designed to address what co-head of global investment banking Jim Amine describes as a “unique opportunity” presented by the current debt market dislocation.
Yes, the share prices of RBS, Lloyds and Barclays have been crushed.
This year is not set to be one of economic recovery – the financial assets that are cheap are cheap for a very good reason, and it’s not a propitious one.
"Return to profitability in 2009 is our most important priority".
"The negative net revenues for FICC in the quarter were due to losses from investments, including corporate debt and private and public equities, and trading in credit products.
“It’s the right time to go for me.
In a high-profile move, Grigory Marchenko has been appointed as chairman of the National Bank of Kazakhstan (NBK) for the second time, replacing his successor, Anvar Saidenov.
Goodbye SLS, hello APF.
The UK Treasury is understood to be considering the establishment of a conduit-style fund that would source investment directly from institutional investors such as pension funds and insurance companies to fund its infrastructure investment programme.
As the terrible fourth-quarter results were unveiled, Bank of America started briefing against John Thain, Merrill Lynch’s chief executive.
Bank of America/Merrill Lynch tops DCM bookrunner tables.
A looming recession threatens a shake-up of the country’s staid industries.
The most canny issuers in 2008 were those that realized it was important to get on and raise capital even if the price was not great.
Three key questions arise from the recent sale of stakes in Chinese banks by their global counterparts, two of them widely asked, one not.
Rebuilding the balance sheets of banks, households and governments, with all that implies for higher savings rates and taxation, means the leg of the L-shaped recession will be years long.
Includes Bonds, Equities, Loans, M&A, MTN, Project Finance
There is no denying the current strengthening of the USD and the deflationary environment.
Be the first to see the results.
The Keynesian remedies are all very well, probably essential, but what about Schumpeter and his “creative destruction”? That is quite the opposite of the Greenscam remedies past and present.
Robert Rubin has announced his decision to leave Citigroup.
Banks test ECB rules as their supplies of repoable ABS run dry.
The primary market share of the top 10 global debt houses declined considerably in 2008, according to full year figures released by Dealogic.
Those of us involved in finance tend to treat the vagaries of investment banking as a matter of life and death.
Moving from overpriced government bonds to quality corporates, our recommendation last October, is now commonplace.
As in all other areas of financial services, the credit crunch has made its presence felt in international cash management.
Agency brokers have returned to fixed income just as investment banks have withdrawn from the market.
The credit crunch has spread to emerging Europe – despite what the region’s central bank governors may claim.
Global stock markets are at their cheapest for 25 years.
Just two years after facing its previous financial crisis, Hungary is once again in trouble thanks to over-reliance on foreign markets.
Jordan’s Arab Bank is one of the most influential financial institutions in the Middle East.
After enjoying years of plenty, the country’s investment banks are facing up to the prospect of leaner times ahead.
In the past few months the Russian capital markets have been hit by a rush of selling as spooked investors head for the exit, sending valuations into free fall.
Kazakhstan has emerged as the principal conduit for South Korean investment in central Asia.
The process of restructuring struggling enterprises in this downturn will be different not only because of the nature and number of stakeholders in each deal, but also because new players are present at the restructuring table.
US policy failures in the autumn of 2007 were crucial both in letting the financial crisis fester and then spiral out of control, and in a premature, panicky slashing of interest rates that paradoxically aggravated the slowdown severely, writes Charles Dumas.
In this downturn, corporate restructurings will be driven by problems at the banks rather than the struggling companies themselves.
Kazakhstan’s bankers are taking a defiant stance towards the financial crisis.
Saxo Bank has had a mixed press this year, which is perhaps testament to the fact that it can no longer be considered to be a junior upstart in foreign exchange.
Biggest names in European securitization research culled.
The president of the European Central Bank is at the centre of the global financial storm.
Trichet is determined that extreme economic conditions should not lead to the abandonment of fiscal stability.
Having negotiated away their covenant protection in the boom years, lenders find themselves in a weak negotiating position in the bust.
Non-performing loans will haunt the People’s Republic in 2009.
Hybrid capital issuance threat from Deutsche Bank’s non-call.
Government support has prevented a systemic run on the banks, but funds are not getting through.
Even in tough capital markets, open only to the few, it’s still possible to craft good deals, attract new investors, bolster balance sheets and stave off disaster. For all their past sins and excesses, investment banks – the good ones at least – will prove themselves invaluable over the coming 12 months
The European Central Bank’s president knows that confidence must be restored before markets begin to function normally again.