FX hurts BNPP's Q2 but 2020 plan on track

FX hurts BNPP's Q2 but 2020 plan on track

By MARK BAKER

BNP Paribas had its excuses ready to explain a second quarter fall in CIB profits and FICC revenues, but strength in equities and continued progress on its strategic plan looked good

Latin America: Almeida takes up the reins at Bram

Latin America: Almeida takes up the reins at Bram

By ROB DWYER

Bradesco Asset Management is the third-largest asset manager in Brazil, with R$600 billion AuM. In March, it appointed a new chief executive with an equities background. Is this a sign of where the organization expects the money to go?

Lebanon: Turbulence can’t touch Blom

Lebanon: Turbulence can’t touch Blom

By OLIVIER HOLMEY

Saad Azhari has quietly ushered in a new era at Blom Bank. The outwardly conservative firm has embraced technology and pulled off a transformative acquisition for its wholesale business. But prudence remains the watchword in such a tempestuous market.

Emerging markets: Exotix goes global to follow its dreams

Emerging markets: Exotix goes global to follow its dreams

By LUCY FITZGEORGE-PARKER

Can a failing frontier markets brokerage transform itself into a full-service investment bank? Duncan Wales, head of Exotix, believes it can be done through the creation of a global partnership network – and so does his backer, Icap founder Michael Spencer.

Berenberg’s global ambitions

Berenberg’s global ambitions

By DOMINIC O’NEILL

Berenberg wants to transform itself from a German firm to a European one with a UK mindset, before eventually taking on Wall Street. Partners Hans-Walter Peters and Hendrik Riehmer are convinced the old merchant banking model can be modernized, but can they avoid the pitfalls of rapid expansion?

The master strategist: How Tidjane Thiam brought a revolution to Credit Suisse

The master strategist: How Tidjane Thiam brought a revolution to Credit Suisse

By PETER LEE

It took an outsider to turn around Credit Suisse, to force executives and shareholders to accept that they had been following a false dream of a trading-dominated business that could somehow avoid blow-ups and produce acceptable returns. Tidjane Thiam has shrunk those businesses but also given them a chance to live on now as the servants of a revived wealth management operation with a focus on the richest entrepreneurs in emerging markets. His three-year battle to reduce risk, cut costs, raise capital, deal with regulators and identify and grow more promising business will be a case study in bank restructuring.

Libor: Changing the frame of reference

Libor: Changing the frame of reference

By GRAHAM BIPPART

There’s a rush to find an alternative to ‘ibors’, but with just three years to go before banks might stop submitting Libor altogether, regulators and market participants are still trying to figure out the right questions to ask.

Awards for Excellence 2018: The B of A-Team – Brian Moynihan’s plan comes together

Awards for Excellence 2018: The B of A-Team – Brian Moynihan’s plan comes together

By PETER LEE

Having stabilized the bank after the financial crisis, Bank of America’s management conceived a simple plan for its future: maintain a diverse set of businesses but deal with less risky customers; provide them with fewer, simpler products; automate for efficiency; and then grow by doing more for these customers. Easy to say, but hard to do – it took time and billions of dollars of investment. With results now shining through, the bank that once looked too big to succeed has a shot at domination.

Xiaomi landmark falls short

Xiaomi landmark falls short

By CHRIS WRIGHT

The first dual-class deal in Hong Kong; the intended first Chinese depositary receipt: Xiaomi’s IPO was not short of landmark intentions, but only some were delivered.

fROM THE ARCHIVE

Fintech: Up bit creek

Fintech: Up bit creek

By CHRIS WRIGHT

A bitcoin conference on a Thai beach, part of a cryptocurrency cruise, is quite a thing.

The Euromoney 25

The Euromoney 25

Euromoney assesses the performance of 25 banks from around the world in a new series of progress reports

ESG: the stewardship revolution

ESG: the stewardship revolution

By HELEN AVERY

The 2017 US proxy voting season was historic: the world’s two largest asset managers backed shareholder resolutions on climate-risk disclosure.

Can finance save the world’s vulnerable nations?

Can finance save the world’s vulnerable nations?

By CHRIS WRIGHT

There are so many challenges related to climate change, so many disparate actors required for their remedy and so much money required to do it, that it is tempting to see the whole situation as unfixable.

Making sense of Belt and Road – What it means for banks

Making sense of Belt and Road – What it means for banks

By CHRIS WRIGHT

China’s Belt and Road Initiative is so vast and ambitious it can be difficult to understand how it will all work in practice – what makes a BRI undertaking, how will they be funded, will they be trophy projects or on commercial terms, how are they originated? – so Euromoney spoke to 16 institutions all looking at BRI from their own different perspectives.

Fintech 2016: The fintech revolution gathers momentum

Fintech 2016: The fintech revolution gathers momentum

By PETER LEE

After a record year for fund raising, large fintech companies are now emerging in marketplace lending and payments, with many more newcomers deploying venture capital money raised in $25 million to $50 million chunks to transform capital markets and traditional banking mainstays such as mortgage lending.

BNP Paribas breaks cover as Europe’s best bet

BNP Paribas breaks cover as Europe’s best bet

By MARK BAKER

BNPP’s latest strategic update for its corporate and institutional bank might have fallen short of the expectations of a market now used to the wild lurches of rival European firms, but to dismiss this as mere tinkering would be a mistake.

Barclays' identity crisis

Barclays' identity crisis

By PETER LEE

One year on from its big restructuring announcement, Barclays is still struggling to convince that it has found the right model.

The week Wall Street went into meltdown

The week Wall Street went into meltdown

By PETER LEE

In the week of August 13 participants in the financial markets – credit traders, equity investors, heads of repo desks, hedge fund managers, risk controllers, originators and capital markets bankers, credit strategists, treasurers, chief financial officers – began to lose faith in the financial system itself.

Have Wall Street banks gone subprime at the wrong time?

Have Wall Street banks gone subprime at the wrong time?

By ALEX CHAMBERS

Wall Street is praying that the US economy will land softly now that the Federal Reserve has pricked the housing market bubble, because it will be bad news for mortgage origination if house prices stall for long or, even worse, fall.