JPMorgan Chase’s huge tech spending is renowned in banking. Euromoney speaks to the firm’s chief data and analytics officer Teresa Heitsenrether about how the bank is using large language models differently from other banks, and what the future holds for generative AI.

Citi’s US $25 billion direct lending programme with Apollo has turned heads for its size and scope. It’s a major part of Citi’s new push to grow ancillary earnings such as cash management, in an era when regulators are curtailing banks’ ability to deploy risk in areas like leveraged finance. As big banks everywhere seek new ways to work with private credit, Euromoney reveals how this landmark tie-up will work in practice.

From wealth management products to enterprise financing solutions, China’s Greater Bay Area offers myriad opportunities. As regulators continue to inch open the door to cross-border transactions, it falls to bankers to champion the liberalisation of data, capital and talent flows – and capitalise on the cross-border region’s undoubted promise.

As head of the Office for the Comptroller of the Currency, Michael J Hsu has a unique viewpoint on the US banking system. In what could be one of his last interviews in office, he speaks to Euromoney about the future of the system – and how small and medium-sized banks can survive in an era when technology spend is only becoming more important.

A second Donald Trump presidency could be a game changer for banks across the US. Senior bank executives must think deeply not just about the potential for regulatory relief and higher investment banking revenue, but also – beyond the big four – about new scope to make transformational strategic moves.

Six years after the Paris Agreement and the world is still looking for enablers to accelerate the net-zero journey. Many see trade finance instruments as the next significant step but that requires accurate and structured data, robust reporting capabilities, and streamlined processes. Key leading players in the area tell Euromoney what is changing in the world of sustainable trade finance.

US and Canadian banks may have had a head start in generative AI, but some European banks are trying to close the gap. Those in charge of harnessing the technology at big banks in Europe say they are gaining confidence in its use: adapting marketing shots to certain client profiles, helping sales managers to sift through product policies and much more.

If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market. It comes after years of rebuilding the bank’s financial strength and reputation. Euromoney recalls how the Italian bank came back from the brink – ready to get into a position to buy Commerz.

Digital banks often struggle with soaring customer acquisition costs in saturated markets. Hong Kong’s ZA Bank, which announced its first monthly profit last week, can offer valuable lessons for firms navigating similar challenges.

Not long ago, Miami was known as a place middle-class Americans went to retire. Today, it is a burgeoning financial hub full of high net-worth families, private equity firms and hedge funds – and it is busy pulling in capital and private wealth at a record rate.

While incumbent Italian banks have seen profits surge thanks to higher rates, the shrinking size and profitability of the non-performing loan market has hit illimity hard. Unperturbed, founder and chief executive Corrado Passera believes the original premise for an SME-focused neobank is more valid than ever.

Nearshoring has become a topic that is discussed so often – and applied to so many issues – that it seems to be everywhere, and nowhere at once. Euromoney talks to banks operating in the Mexican market to find specific examples of new business being generated by nearshoring.

National champion banks should worry that the latest surveys commissioned by the Competition and Markets Authority might prompt loss of more primary accounts.

Falling inflation has sparked an early surge in credit demand, which offers the prospect of banking normalization – a potential boon given the negative real interest rates banks are earning on their government securities portfolios.

For years, India’s capital markets underwhelmed. Now, the country is the beating heart of IPO activity in Asia, with a raft of big-ticket stock listings expected in late 2024 and 2025. Fees are up, PE firms cannot buy assets fast enough, and global firms want to raise capital onshore.

The bank's new CEO has posted his first market-beating quarterly results, but the firm's exposure to lower-income segments could limit longer-term upside.

Unable to sell companies or raise new funds, desperate private equity managers are funding distributions from debt at the portfolio level. That structurally subordinates limited partners. They don’t like it – and neither do regulators.

India’s first international financial services centre was created by premier Narendra Modi in 2008. Today, Gift City is a flourishing hub near Ahmedabad in the country’s arid northwest. K Rajaraman, chair of the International Financial Services Centres Authority, tells Euromoney why the zone is vital to India’s financial and economic aspirations.