Macaskill on markets: The tricky business of ethics
This must have been galling for Ken Moelis, who was the only high-profile leader of a Wall Street firm to attend the Saudi Future Investment Initiative conference in October. JPMorgan chief executive Jamie Dimon, BlackRock head Larry Fink and Blackstone...
Banking: Can nothing hurt Saudi sentiment?
All of the heads of large international banks from Europe, the US and Japan who were due to speak at the state-run investment conference in late October, eventually cancelled. And a small number of deals with the kingdom seem to...
Banking: Balancing digital and branch
In the UK, a report published in October by the Office for National Statistics shows that nearly 6,000 local bank branches have shut in the UK since 2010 – a drop of a third. In the US, 1,200 branches were...
Moreau exit shows tough road ahead for European banks’ asset management hopes
Nicolas Moreau’s summary replacement as the head of Deutsche Bank’s asset management arm today is just the latest sign of pressures facing Europe’s asset managers, especially those with global ambitions. European banks are increasingly turning to asset management to shore...
High-risk Montenegro is most improved in Euromoney’s survey
Glowing in the sun, Montenegro’s attractions are enhanced, but formidable fiscal challenges remain Of all the 186 countries in Euromoney’s country risk survey, Montenegro has shown the largest improvement since 2013, with the positive trend continuing in Q3 2018 boosting...
Argentina’s banks rue the loss of last year’s future
So far there are no signs of danger. Admittedly the economy is still in the early stage of its recession, but the other key banking metrics are showing predictable signs of distress. For example, asset quality is deteriorating – sharply...
Concern mounts over a no-deal Brexit
Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), was channelling the Dunkirk spirit at the Mansion House last night – all self-deprecation, bad jokes, plucky little British chap – as he reported on the UK market regulator’s preparations...
Balkan bank privatizations: the never-ending story
On October 15, Slovenia launched an IPO of local market leader NLB, just four days after inviting expressions of interest for number three player Abanka. The same day, Serbia’s finance ministry advertised for an adviser to sell its stake in...
Why Switzerland wants to be the crypto nation
Zug, Switzerland proves an unlikely setting for the centre of cryptocurrency Switzerland is Europe’s most cosmopolitan nation, although its geography should make it the most closed. This is a paradox rooted in finance, and the situation is getting weirder. The...
Banks unveil TIN to counter fintechs
Seven banks are building an inclusive, global, multi-bank, multi-corporate network called Trade Information Network that allows corporates to share purchase order and invoice information with their trade finance banks for pre-export financing. ANZ, Banco Santander, BNP Paribas, Citi, Deutsche Bank,...