North America

State Street’s Chip Lowry, a board member and former chair of the Foreign Exchange Professionals Association, talks to Euromoney about his new role on the Commodity Futures Trading Commission’s market risk advisory committee.

The chief executive of JPMorgan’s Onyx blockchain business explains why it has been a long slog, and where the interest lies today after the crypto collapse.

Daniel Zelikow, chairman of JPMorgan Development Finance Institution’s governing board, on private-sector development finance, EM policy risk and funding bankable assets.

Vocal members of the US political right are not happy, creating new laws that ban state investors from backing companies with an ESG agenda. Several fund managers have been quick to take up their cause.

European banks have raced far ahead of their US peers on sustainability. But the continent is now facing an energy emergency, creating pressure from some corners to reverse investment declines in oil and gas. Can Europe’s banks remain frontrunners in sustainable finance in today’s fragile geopolitical environment?

Elon Musk is full of praise for his bankers at Morgan Stanley. It’s a shame his $44 billion Twitter deal is set to cost the bank money rather than earning a tip for good service.

The weakness of the pound and strength of the dollar has implications for companies on both sides of the Atlantic.

UK pension fund hedges have failed the first real stress test in a new era of rising interest rates. Bankers are surprisingly relaxed about the implications for other threats to global systemic stability.

David Solomon is having to field some scepticism as he changes Goldman Sachs’s approach to its loss-making consumer banking operation and restructures the firm. But nothing that has been developed is going to waste, and recognising that a business might sit better elsewhere is simply good sense.

Regulators often rely on giving relief when market participants or products fall between different jurisdictions or certification is unavoidably delayed. But one US regulator is getting fed up with having to do the same thing over and over again, and is calling for rules to be fixed instead of being endlessly patched up.

The curious case of the cows that didn’t exist.

Kotak Investment Advisors, the special situations arm of Kotak Mahindra, could have $9 billion under management by early next year. It is led by Srini Sriniwasan, who has applied skills learned at Goldman Sachs to develop the business to where it is today.

SEC chair Gary Gensler’s literally getting vibes that there’s something sus in the crypto wave.

The things that attracted Lone Star to Bank of Cyprus are present in banks in Greece and elsewhere in peripheral Europe. If other private equity-like investors take an interest, domestic political blessing could be the key to success.

Not long ago, correspondent banking was as basic as finance got. These days it is compliance and cost-heavy and in the crosshairs of aggressive and powerful regulators. Little wonder that so many banks are exiting small or fragile markets – actions that help their bottom line but hinder efforts at financial inclusion.

Removing UK bonus caps and undermining the BoE could exacerbate a sterling crisis while entrenching US IB dominance.

An extraordinary series of data protection failures at Morgan Stanley’s wealth management business has seen the SEC fine the company $35 million.

As the world’s biggest investment banks prepare to report third-quarter earnings in October, the signals are bad across the board.

If you want to get ahead in investment banking it is time to hit the beach.

Anti-ESG boycotts are unlikely to cross the Atlantic.

Bank of Cyprus has its quirks – such as a sanctioned oligarch as a large shareholder – but it is far from the only European bank with good potential still shunned by mainstream investors.

China’s decision to let US regulators audit its New York-listed corporates is a shock. It’s a U-turn, a climbdown and a sign, more than anything, of China’s enduring financial frailty.

The $100 million line of credit from Dai holders to a Pennsylvania community bank to support commercial loans should have been a breakthrough, but further deals are on hold as the crypto purists fight back against the pragmatists seeking more exposure to real-world assets rather than digital ones.

Wall Street’s junior human capital resources may not appreciate that there is now a bear market for their output, and that could spell tough times ahead.

Bank shares have failed to close a valuation gap with fintech competitors despite the prospect of higher interest income from rate hikes. Will the Fed’s newly tough stance on inflation-busting finally give bank stocks some respect?

A US climate bill filled with green credits will create business for banks and provide relief from the backlash against ESG products.

West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.

UN CFO Taskforce member Jill Klindt talks to Euromoney about ESG disclosure challenges for SMEs and the need for all firms to produce consistent, auditable data.

Groups such as Ontario Teachers’ Pension Plan, CDPQ and British Columbia Investment were forerunners in the development of new private-market asset classes, particularly infrastructure. Euromoney traces the evolution of the funds’ approaches and scale to the point where they are desired partners for private assets worldwide.

Supposedly disappointing second-quarter earnings should have surprised no one and Morgan Stanley’s were quite good.