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BANKING

Best Smaller Bank: AIB Group

Ireland's AIB (the initials stand for Allied Irish Banks) is small but perfectly formed. Over the years, it has acquired a number of businesses, such as Goodbody Stockbrokers and John Govett asset managers, that have rounded out the full range of its international banking and financial services.

July 01, 1997

BANKING

Yugoslavia: The long hard road back

Contrasting with the bullish prices of much emerging market debt, Yugoslavia's has dropped from being traded in the high forties a few weeks ago to a low of 35%, following inconclusive talks held at the end of June between the government of the Federal Republic of Yugoslavia (the FRY consists of Serbia and Montenegro) and the relevant London Club committee. Some analysts think the price could go lower still.

July 01, 1997

Never mind the politics, feel the quality

Defying acute political uncertainty and a high-risk macroeconomic environment, some of Turkey's largest companies are preparing to make international offerings. Metin Munir reports.

July 01, 1997

BANKING

Belgium's diplomatic bag

France may fudge its pensions, Germany may quibble over the value of its gold, but Belgium has come up with a unique solution to meeting the Maastricht criteria: selling its embassy in Tokyo. One Tokyo property agent thinks the embassy, or more particularly the site, could net the Belgians $200 million, knocking anything between 1.6% and 2.8% from the budget deficit. This could knock 0.1% off the Maastricht deficit to GDP ratio at a single stroke.

July 01, 1997

Awards

Awards of Excellence: Asian country awards

Awards for Excellence 1997

July 01, 1997

Philippines Yankee: Drama until the end

The postponed Philippines' yankee was finally launched last month in a way that appeared to save face for both the country and lead-manager Salomon Brothers but which, in reality, retained the quirkiness of the entire saga.

July 01, 1997

BANKING

Simon Fry, Managing director of international markets division, Nomura

When foreign investment banks made $250 million on an erroneously priced Italian postal bond issue last year, the then chairman of Nomura's London office, Hitoshi Tonomura, was all set to follow CSFB's example and return Nomura's profit - thought to have been around $50 million.

July 01, 1997

Awards

Best Global Investment Bank: Merrill Lynch

Awards for Excellence 1997

July 01, 1997

BANKING

Marcus Fedder, Treasurer, EBRD

No surprises at the European Bank for Reconstruction & Development after the departure of treasurer Mark Cutis to Nomura. His successor is Marcus Fedder, the 38-year-old former deputy and a member of the EBRD's only profit-maximizing team since 1991.

July 01, 1997

Safety netting for futures dealers

Exchange-traded derivatives now have their own standard-form agreement. But that's no excuse for leaving your brain at home. Christopher Stoakes reports.

July 01, 1997

Richard Briance, Chief executive, West Merchant Bank

A former colleague of Richard Briance, the recently installed chief executive of WestLB's merchant banking arm, says: "West Merchant Bank were unbelievably lucky to get him. If I was him I'd have held out for a bigger job."

July 01, 1997

Awards

Special Award for Long-Term Strategy: ABN Amro

Awards for Excellence 1997

July 01, 1997

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