North America

Bank earnings boosted by trading, lower costs; NIMs sink at larger banks.

The Canadian dollar typically trades in the shadow of the all-powerful US currency, but last month that momentarily changed as global interest in the ‘loonie’ soared to intergalactic highs.

Facebook’s arrival on the digital payment scene will inevitably see it become a significant player. But, so far, Facebook is not offering a revolution in the global payment infrastructure and tie-ups with disruptive new technologies would truly transform the FX landscape.

The meteoric rise of the US dollar seems unstoppable but cynics are beginning to emerge, as economic data and relative valuations suggest the currency’s ascent is starting to look overheated.

Share buybacks artificially inflate executive pay and disguise its ultimate cost to businesses.

Bill Winters has some big decisions to mull while he prepares to start his new job as Standard Chartered chief executive.

Asset management is being squeezed by tougher stress testing and regulatory controls. Only the biggest players seem set to survive.

Energy market volatility hits equity tranches; index dispersion at highest level since crisis.

New trading system raises funds, prepares launch; 22 of top 50 asset managers signed up.

Private equity firms staff up; bank versus non-bank competition increases; talent ‘harder to come by’ than in 2008.

Basel wants end to use of credit ratings; further regulatory changes deplored.

US firms are heading towards record levels of euro issuance, bringing the credit markets closer together than ever.

Innovation is held back by the gap between the old financial system, investing and lending primarily against hard assets, and the new knowledge economy that depends on intangible assets. A new type of bank could benefit SMEs seeking to develop innovative products. It could also give investors the chance to redeploy speculative capital more productively. But who is the driving force behind Snowflake?

For corporate treasurers, currency volatility is heightening the importance of updating FX hedging policies, amid rising costs.

International banking alliances offer a number of benefits to treasurers – from FX hedging to cash pooling – while Sepa and the rise of non-bank payment providers have yet to diminish their allure.

Prompted by new SEC rules, the largest prime money market fund in the US will switch to a government mandate. The move might herald the transformation of the $1.7 trillion prime MMF industry.

GS, MS and JPM have all arrived on the global map. Are the traditional private banks ready for the challenge?

How can Caesars Entertainment have an equity value of $2 billion while its bankrupt operating subsidiary owes creditors $18 billion?

Buys trading portfolios from Credit Suisse, Deutsche; integration of commodities and banking paying off.

BAML builds up; all eyes on UBS; changing dynamics prove alluring.

Global head of private wealth management Tucker York talks to Euromoney about the $40 million-plus client offering it is focusing on.

Greg Fleming, president of Morgan Stanley's Wealth Management, talks to Euromoney about how the firm is increasing lending and gearing up for the millennials.

Monetary policy errors in Europe or Japan, political discord in Europe and geopolitical risk are big risks for 2015, says Sharmin Mossavar-Rahmani, chief investment officer of Goldman Sachs Private Wealth Management, in an interview with Euromoney.

Opinion is divided on how automation of trade-finance processes is changing bank practices in relation to FX reporting and processing.

Mark Haefele, global chief investment officer at UBS Wealth Management, says his firm is looking to the US for this year's returns.

US growth, dollar appreciation, China slowdown and potential geopolitical fallout from lower oil prices: Michael Strobaek, global CIO for Credit Suisse Private Bank, discusses his firm's outlook for the year ahead.

Thomas Moore, CIO and head of private investment group Americas at HSBC Private Bank, talks about how oil prices and volatility are concerns for the year ahead.

Asoka Wöhrmann, global CIO with Deutsche Asset & Wealth Management, shares his macro and asset allocation views for the year ahead.

Negative publicity around cryptocurrencies such as Bitcoin has deflected attention from the potential of the underlying technology to facilitate real-time – and therefore much cheaper – international payments.

Euromoney interviews the chief investment officers of the world's leading private banks.