Penelope Smith, Director, Head of non-German Schuldschein Origination, DCM Loans at Commerzbank, considered the role of this unique private placement instrument in international investors’ portfolios.

The importance of emerging markets in the world economy has grown steadily but managing EM currency risk can be a nightmare for the unwary corporate treasurer. By 2014, emerging market economies already accounted for 36% of world GDP and 27% of world trade, yet in the period between 2010 and 2015 there were eight large depreciations of emerging market currencies, according to the International Monetary Fund. Managing the company’s financial interests in these challenging markets has become a top priority for treasurers. Which factors should treasurers look at?

Pension plans of many European companies are in crisis. Longer life expectancy entails paying out more in defined benefits, while volatile equity markets and low-yielding bonds have cut deep into investment returns. At the same time, the historically low interest rates and credit spreads result in higher discounted values of pension liabilities. Satu Jaatinen, Global Head of Corporate and Investor Solutions at Commerzbank, examines the strategic options for safeguarding pensions at risk.

CEOs are expected by shareholders and other stakeholders to guide their companies through today’s shifting risk landscape and deliver on financial objectives. Here's how.

It won’t have escaped your notice but there are further regulatory changes coming down the track. Hard on the heels of European Market Infrastructure Regulation (EMIR), the second iteration of Europe’s Market in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation are under way.