Quotes of the month

“We now refer to Puerto Rico and its restructuring plans as the Kardashians. Everyone wants to talk about it but there really is no point”

Thomas Doe, president of Municipal Market Advisors, says there are bigger issues in the muni market than Puerto Rico’s debt situation

“We feel as a pure-play and being simply asset management, had helped us to grow. We ran a campaign in 2009 for example that simply said: ‘We are not a bank’”

Piers Currie of Aberdeen Asset Management is one pure-play fund picking up business from private banks

“It’s wonderful to be recognized as a firm by our peers. It’s the biggest compliment as it’s been hard at times to defend our position. Everyone has fought hard”

CEO of UBS Wealth Management Jürg Zeltner scoops the top business and personal rankings in Euromoney’s 2016 private banking survey

“Five out of 52 bonds were chosen to be transferred to the bad bank; it should have been all, or a part of all, or none”

Mark Holman of TwentyFour Asset Management is just one international fund manager up in arms over the Novo Banco bail-in

“The shareholders handed me the keys to the office and said: ‘The treasury’s empty. Good luck’”

Things have turned around for Citadele Banka under CEO Guntis Belavskis since 2009