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BANKING

Shareholder value is a convertible issue

It's all in the price

April 01, 1998

Andre Lee - The approach of the Asian financial crisis

Peregrine's last days, by Andre Lee

April 01, 1998

BANKING

Peregrine's last days, by Andre Lee

How did Asia's foremost investment bank come to grief? Andre Lee - seen by many as the villain of the piece - speaks out for the first time. He tells Peter Lee about the internal tensions at Peregrine, the role of his fixed-income business, the firm's culture of credit management and the source of the rumours that broke the bank

April 01, 1998

Banks bash the brokers, again

Frankfurt's capital markets brokers have endured a constant squeeze on their commissions. And banks don't like them trying to swell their income by adding advisory services or touting downstream for clients. But the fierce competition leaves them with little alternative. A few of them have decided it's do or die, but tact is needed. Laura Covill reports.

March 01, 1998

Who needs gunboats?

A ruling by a court in Denver, Colorado, threatened to frustrate all the Wharf group's dealings with US banks. US firms may be entitled to seek redress from their own courts - even if the dispute is on the other side of the globe - but to Hong Kongers this seems like US imperialism. Steven Irvine reports.

March 01, 1998

Opinion

Plaza revisited

Despite the current signs of relief in Japanese and other Asian financial markets, deflationary forces in the region are set to grow. That will force the US and Japan to signal the end of the Asian crisis with a new global policy framework and massive fiscal stimulus in Japan. Investors should prepare for a policy reversal.

March 01, 1998

Investment Banking: Nomura bounces back

Less than a year ago a damaging scandal over payments to Japanese gangsters by senior officials at Nomura Securities suddenly propelled a little-known and comparatively young executive, Junichi Ujiie, to the office of president and chief executive. There he took on the task of stamping out corruption and modernizing management at Japan's largest securities firm.

March 01, 1998

Opinion

CSFB's successful try

Hong Kong's premier sporting event, the Rugby Sevens, solved its sponsorship quandary last month. Credit Suisse First Boston has taken over the role from the now bankrupt Peregrine.

March 01, 1998

Asia upsets the utilities

Privatization of Latin America's utilities has thrown up plenty of investment opportunities. Buyers need to finance not only the purchase but also capital expenditure - especially after years of underinvestment. Both have been affected by the Asian crisis. As general uncertainty about emerging markets persists, there are also concerns about the state of the all-important domestic US capital markets. James Rutter reports.

March 01, 1998

Trains, planes, but no automobiles

Deal: Trade sale

March 01, 1998

Back on track?

After many false starts, the slow train of Indian privatization is picking up speed. Whichever parties form the next government, the sale of state assets will continue. By Kala Rao.

March 01, 1998

Korean rescue is only a start

It would be comforting to portray the intense and speedy negotiations by which international commercial banks and Korean government officials staved off a default in that country as the turning point in the Asian crisis [see cover story, this issue: Korea stares into the abyss]. Indeed, there was much to note and praise in that effort, not least the way in which certain of the largest American banks lived up to the best traditions of leadership in such debt crises.

March 01, 1998

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