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Peter Lee

Editorial director

Peter Lee is editorial director. He joined Euromoney straight from Oxford University in 1985, and has written about banking and capital markets ever since, being appointed editor in 1999. He became editorial director of Euromoney in May 2005.

After depositors fled the wreckage of the US regional banks in 2023 and customers started jumping overboard from a sinking Credit Suisse, even more banks could have been dragged into a systemic crisis. But UBS, rebuilt after the global financial crisis as a strong, sustainable and well-managed institution, responded to the rescue call from a fellow G-Sib. It rescued Switzerland as a financial centre, stopped the panic from spreading and struck a good deal for its own shareholders. Credit Suisse was not a gift. The integration will be tough. But UBS has got off to a good start and could soon relaunch its own growth story.
Risk aversion has spread quickly since the call for a snap election in France, from French government bonds, through bank stocks and CDS spreads to now derail the IPO of an Italian maker of luxury trainers.
It is getting tougher for investors to execute block trades of more than €2 million in Europe’s fragmented equity markets. Matching buyers and sellers needs a return to negotiation and away from pure electronic trading.