The chief executive of Newton Investment Management is a forthright believer in the power of active investors to effect change at the companies they invest in, and thinks tinkering with market rules is unlikely to boost the appeal of London-listed equities.

Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal, discussing how Qatar’s robust and well-capitalized banking sector is navigating the twin shocks of lower oil prices and coronavirus.

Colombia, more than any other Latin American country, has used the favourable winds of recent years to prepare for the rainy days ahead. But has finance minister Mauricio Cárdenas done enough to ensure Colombia stays afloat if there is a prolonged emerging market downturn?

When seven failing cajas were forced together, it was supposed to dampen their problems, not amplify them. Despite many doubts and hard decisions, Bankia’s chief executive Jose Sevilla Alvarez has been ambitious in restoring profitability and recovering the bank

ING’s chief executive walks and talks digital. Today he leads a stronger, freer institution – one that is using pure online banking to grab customers from incumbents. While the bank grows as a force in lending to industry around the world, it is also building up an SME and consumer-lending portfolio in some of Europe’s biggest retail markets

South Africa is plagued by slow growth and escalating debt levels. So how can the country’s new minister of finance, Nhlanhla Nene, get the economy moving again while balancing the budget?

Haunted by the global crisis, policymakers from the US to the UK are erecting national barriers and waging a war against too-big-to-fail banking. Vice-chairman of the Federal Deposit Insurance Corp Thomas Hoenig defends the drive toward balkanization.

In an interview with Euromoney, Bundesbank board member Andreas Dombret sounds an upbeat note on the rigour of the ECB’s asset-quality review (AQR) and the eurozone’s resolution arrangements, but issues a sharp warning over banks’ risk-free treatment of sovereign debt.

Abebe Aemro Selassie, deputy director of the IMF’s African department, urges policymakers in sub-Saharan Africa (SSA) to focus on making sure banking systems are robust. Rather than looking for short-term rewards of opening credit lines, he wants to see well-capitalized and regulated banks in countries where fiscal deficits are controlled.

Mexico’s central bank surprised the market in June when it cut its base rate by 50 basis points. Euromoney’s central bank governor of the year in 2013 stresses that the credibility of the bank’s focus on inflation should not be doubted

The longest-serving central bank governor in the world has seen it all, and even now is keeping the economy growing despite domestic political paralysis and the spillover from Syria.

Nationality: Ghanaian

Nationality: Nigerian

In an interview with Euromoney, the group treasurer of South Africa-based explosives and chemicals group, AECI, shares his views on managing the company’s treasury operations, planning for international expansion, banking relationships and the prospect of adding international banks to its roster.

In a wide-ranging interview, Ann Cairns, MasterCard’s president of international markets and resident statistics buff, talks to Euromoney about tech-sector valuations, the digital revolution, acquisitions, regulation, and a yacht called…

Indonesia’s finance minister, Muhammad Chatib Basri, has a clear mission: to make government easier to navigate – for its people, its companies and for foreign investors. His pragmatic approach is paying dividends. So much so that he might even be asked to stay on.

Bank of Lithuania deputy chief Ingrida Šimonyte discusses the country’s euro-adoption plans, the challenges for the foreign-owned banking system, and the asset quality review in a wide-ranging interview.

Friedman joined UBS in March 2011, from his former role as CFO for the Bill and Melinda Gates Foundation.

Strobaek joined Credit Suisse in May 2013 from a Swiss family office, where he was the CEO, the CIO and a managing partner. Between 1996 and 2009 he was with UBS.

Moore joined HSBC in 2001 from his role as CIO at JPMorgan Chase’s personal asset management group.

Wieting took on the role in May 2013 and was formerly a director and US economist in Citi Research. He joined Smith Barney in 1996 and became lead economist for Citigroup’s US institutional equities business in 2000.

Madigan took on his role in April 2012 having joined JP Morgan in 2004. Before that he was head of emerging markets investments at Offitbank.

In an in-depth interview with Euromoney, the head of the powerful Russian state lender discusses domestic bank competition, regulation, credit growth and reveals the impact of state ownership.

In an interview with Euromoney, Bogov discusses credit growth, bank regulation, foreign dominance of the country’s lenders, and the Vienna initiatives.

In a wide-ranging question-and-answer session, governor Jorgovanka Tabaković reveals shifting sands in the Serbian banking system, efforts to boost domestic sources of finance, capital market reform, Basel III and Vienna initiatives.

Xiang Songzuo, chief economist of state-owned ABC, says China’s next raft of reforms – from retooling state-owned enterprises to tackling local government debt burdens and environmental challenges – will involve a disruptive shift in the political system.

Since 2002, Ali Babacan has earned Turkey’s government the trust of markets. But what can the ruling party’s economy chief say to reassure investors now, after some government members’ attacks on the local financial sector? The answers are not all encouraging.

In an exclusive interview, Riad Salamé, the longstanding governor of Banque du Liban, discusses Lebanon’s perpetual political and economic challenges, the resilience of its banks and the prospects for needed structural reform. He even ponders what he would do if he were president for a day.

When did Burgan Bank decide to launch its international expansion strategy and why?

Famed for his tough approach to regulation, Czech central bank head Miroslav Singer now has his sights set on currency market intervention to reflate the country’s flagging economy. He talks to Euromoney about the limitations of fiscal policy, the prospects for Czech adoption of the euro, and the dangers of regulatory integration.

Ngozi Okonjo-Iweala is convinced she can diversify the economy. But fears are growing that the end of the commodities super-cycle will imperil the growth model.

The new head of the International Finance Corporation, Jin-Yong Cai, tells Euromoney about the need for the World Bank’s private-sector arm to take more risks and be more activist in developing policy ideas in such areas as infrastructure development and poverty reduction.

Japanese newspapers often refer to Koichi Hamada as “the brains behind Abenomics”. During a recent visit to Tokyo, the 77-year-old special adviser to Abe spoke frankly to Euromoney not only about Abenomics, but also the character and nationalism of Japan’s prime minister.

Richard Fisher, president of the Federal Reserve Bank of Dallas, tells Euromoney why no bank is too big to fail and why Texas has much to teach the rest of the US economy

In an exclusive interview, Benoît Coeuré, member of the executive board of the European Central Bank, discusses the challenges that Europe faces in stimulating financing to small and medium-sized enterprises, including the creation of a truly pan-European and cross-border capital market in the region and how securitization can be used to re-establish funding to these firms.

Finance minister Nizar Baraka says he can – and must – bring down Morocco’s gaping fiscal deficit. But after a debut dollar bond in December, how much can he change the country’s financial model in the midst of pan-Arab revolt?

Finance minister Rimantas Sadzius reveals Lithuania’s 2015 euro adoption plan, touts the benefits of convergence and strikes a bullish – and contrarian – tone on eurozone policymaking.

High-profile Malaysian CEO Tony Fernandes is intent on furthering his companies’ pan-Asian expansion, notably through AirAsia. He sees such international activities as The Apprentice Asia and ownership of Queens Park Rangers FC as useful publicity for his business ventures.

With Latvia set to join the eurozone in 2014, and Moody's upgrading its bond rating this week, finance minister Andris Vilks is confident of the benefits to the country in joining the single currency – and aware of the efforts needed to convince a sceptical population.

In an interview in his office in Riyadh, Suliman Azzabin, chief executive of Al Rajhi Bank, pours scorn on allegations that link his bank to terrorist financing repeated in the US Senate report on HSBC last year. So what is Al Rajhi Bank in 2013 really, and how is it still making so much money?

All banks must be Basle III-proof; Regulatory avalanche stifling business

Can Credit Suisse’s newly promoted CEO of Brazil, José Olympio Pereira, maintain his own and his bank’s high standing in equity capital markets? Euromoney interviews Olympio to find out.

Regulators have regained their reformist muscle in the shape of Mark Carney, Bank of Canada governor and chairman of the Financial Stability Board. In a wide-ranging interview, Carney talks about recent banking scandals, the Volcker Rule, and why fears about Basle III are wide of the mark.

Basle III proposals would hurt Danish banks; Denmark wants equal treatment in bank union

Ivan Ritossa, who recently announced he is leaving Barclays after 10 years, has been one of the most influential figures in foreign exchange during the past decade. Hamish Risk profiles the man and charts the extraordinary rise of Barclays as a leading FX player.

The Philippines’ secretary of finance, Cesar Purisima, has a reputation for probity that has reached street level. And he is determined to rapidly advance economic growth through the encouragement of entrepreneurship, the development of capital markets and increased regional integration.

Andreas Ittner, executive director, Austrian Nationalbank (OeNB), discusses the challenges of regulating banks with diverse emerging European portfolios.

In an exclusive interview, Arunma Oteh says her temporary suspension earlier this year as head of the Nigerian Securities and Exchange Commission was just the latest in a series of attempts to unseat her. But she says she and her allies are winning the battle to stop market abuses and change Nigeria.

With Juan Carlos Echeverry’s August departure, Latin America has lost one of its most effective finance ministers. And certainly its most combative. Just days before the news broke that he had lost his job, Euromoney met him in Bogotá to hear his uncompromising views on sustaining Colombia’s recent growth. The only unanswered question: did he know what was to come?

For 20 years, Charles Dallara worked the corridors of power in the financial community as managing director of the IIF. Then Lehman Brothers and the Greek crisis brought his role into the glare of publicity. As Dallara prepares to step aside, he considers the changes that have taken place in the banking industry, and the role the IIF has to play in its future.

Andreas Ittner, executive director at the Austrian Nationalbank (OeNB), talks to Euromoney about why Austrian banks are not deleveraging from the “extended home market”, how they are still on track for Basel III, and what sets the OeNB apart from its peers.

China's army of small and medium sized enterprises struggle to access mainstream bank funding, forcing many of them to turn to the country's booming shadow banking system. In an exclusive interview with Euromoney, Shanghai Pudong Development Bank, one of China's largest commercial banks, discusses the funding challenges SMEs face and how it is helping the sector access the funding it needs to flourish.

Standard Chartered’s senior bankers admit there is something old fashioned about the way the bank does business. Even its CEO, Peter Sands, is a throwback – a banker mostly lauded rather than criticized for his performance. StanChart has consistently delivered a level of income and profit growth most of its peers can only dream of. Is its traditional approach a model for modern banking?

The country’s banking system had a bad crisis. Cheap funding, overcapacity and poor business models led too many banks to buy rogue assets. But as it returns to health, is there now a shortage of capital to fund needed consolidation?

Two years ago, Deutsche Bank beat a host of rival suitors to secure the services of China rainmaker Henry Cai. His task: to make the bank punch harder in the lucrative Asian equities business. Progress has been made, but does Deutsche have what it takes to reach the summit in Asia?

Former ECB executive board member strikes a hawkish note in a wide-ranging interview on the fiscal and monetary policy tools left to save the eurozone.

Poland's debt-management official waxes lyrical in an interview with Euromoney about how the country is riding out the eurozone storm, and the sovereign's debt issuance plans

Saudi Arabia’s new economy minister, the former central bank governor Mohammed Al Jasser, says rapid change is under way in his country. But is the reformist energy sparked by the Arab Spring already flagging?

Andreas Dombret, one of six members of the Bundesbank’s executive board, has reinforced the perception that the so-called shadow banking system is at the forefront of European regulators’ concerns in an interview with Euromoney.

In an exclusive interview with Euromoney, a member of the Bundesbank executive board says shadow banking is the greatest concern to regulators, who still do not fully understand its impact on the financial system

Economy and planning minister Muhammad Al Jasser, in a rare and wide-ranging interview with Euromoney, seeks to allay rising fears over the Saudi Arabian economy’s fiscal dependence on oil revenues while detailing his priorities for reform

QNB became the Middle East’s biggest bank last year and is now stepping up acquisitions abroad. Can it follow Qatar’s corporate champions and transform into an emerging market-focused bank worthy of the state’s newfound financial power?

The agency has hit the headlines with its aggressive ratings actions against western sovereign credits. But those decisions, like the man behind the agency, do not hold up against the simplest scrutiny.

Cleantech offers limited scope for investors; Resource-efficient conventional companies top performers

A dynamic economy is transforming the country. The central bank governor predicts good times ahead for a nation rich in resources and competitive in manufacturing.

In his first interview as new CFO of Embraer, Paulo Penido Marques says the company is well placed to diversify and grow with its current balance sheet – but he is tempted by the rates on offer in the international debt capital market to pre-fund some 2012 capex.

Hakan Binbasgil, chief executive of Akbank, had a busy start to his new job. “I have met 15,000 Akbankers since I began in this role,” he says. “It was a priority for me to meet everyone in the organization. To meet our ambitions we need the contribution of everyone at the bank.”

BTMU expands FX business outside Japan; Strong yen boosts Japanese M&A flow

In a society obsessed with maximizing profit, Muhammad Yunus, Nobel Peace Prize winner and pioneer of microfinance through Grameen Bank in Bangladesh, has a new goal: to get business and finance to take off its ‘profit-maximizing glasses’ and think about its role in society instead

Mary MacLeod jumped companies and cultures to join ICBC International as deputy CEO – and became the most powerful foreign banker in China, with an eye on global dominance. The pressure is on, but MacLeod isn’t showing it... yet.

IMF senior economist Manmohan Singh says the shadow-banking system is a necessary part of the monetary universe, and therefore something that regulators and policymakers must thoroughly understand if they are to have any success in improving economic performance.

The European Central Bank would fail European Banking Authority stress tests, but this is not the issue the European markets should be worried about, says Willem Buiter, one of the world’s most distinguished macroeconomists

Having secured permanent capital just before the big equity market sell-off, Glencore now has the financial strength to boost production and acquire cheap mining assets. In the long run, shareholders should reap the benefits. For now, they’re still licking their wounds after the Swiss firm’s record-breaking IPO. Peter Lee tells the inside story of the deal of the year.

Tradition has it that the head of the Federal Reserve is the most influential central banker in the world. Ben Bernanke still is. But Zhou Xiaochuan, the governor of the People’s Bank of China, is beginning to run him close.

Australia has struck it rich, and lucky, as it has used its natural resources to benefit from the China spending boom. But the careful stewardship of its treasurer, Wayne Swan, has played a key role in making it the best-performing economy among the world’s richer, developed nations. Not that he is likely to get much credit at home, as Eric Ellis reports.

Henderson Global Investors' CIO, David Jacob, talks to Euromoney about policymakers creating rather than stemming market volatility, investor safe havens and how the US downgrade has affected the dollar’s future as a reserve currency

Bank of Israel governor Stanley Fischer’s bid to be managing director of the IMF might have been successful, had the position been awarded on merit alone. Euromoney spoke to Fischer the day after the IMF announced it had selected Christine Lagarde.

AIA CEO Mark Tucker talks about spending AIA’s $5 billion cash pile, the potential for acquisitions and the key business drivers in the toughest Asian markets.

AIA CEO Mark Tucker outlines plans for AIA to catch up in bancassurance and expounds his views on the key China market and the competition in Asia

For almost 10 years Josef Ackermann has regularly proved his critics wrong. His latest retort has been to rebalance Deutsche Bank's business mix and maintain returns within a much-changed investment bank. But can he meet the aggressive new targets he has set?

In his career, he has helped Egypt through a time of crisis and made Ahli United Bank a regional powerhouse.

The rise of Itaú, led by its chief executive, Roberto Setúbal, is one of the success stories of a generation in banking. Consistency and a canny approach to acquisitions have been the key to Setúbal’s achievements. And that is not going to change even as Itaú Unibanco cements its place as one of the world’s largest banks. Rob Dwyer reports from São Paulo.

After a few difficult years, culminating in the resignation of its long-serving chief executive, Italy’s biggest lender is hoping for a fresh start. But plenty of hurdles need to be overcome if it is ever to reassume its position as one of Europe’s leading banks.

North Korea. Zimbabwe. Tunisia. Algeria. Iraq. Pakistan. Egypt. It’s a list of the world’s flashpoints. And they’re all part of Egyptian entrepreneur Naguib Sawiris’s unique telecoms empire. So when his Orascom group needed financing, and then sought a buyer, it presented Sawiris’s advisers with a unique set of challenges. Eric Ellis tells the fascinating story of corporate finance in the new world order.

In his final interview as chief executive of HSBC, the bank he served for almost 40 years, Mike Geoghegan answers the questions that matter. Did he jump or was he pushed? Should HSBC remain supervised and headquartered in the UK? What happened to the Nedbank takeover? Will the bank list in Shanghai? And he reflects on a stellar career that mirrored the globalization of banking, and in which he was forced to deal with many financial crises.

In an exclusive interview with Euromoney, Bill Rhodes, who played the most prominent role of any banker in emerging markets debt restructurings in the 1980s and 1990s, warns that implementing a sovereign debt restructuring mechanism in Europe would be short sighted and could worsen funding conditions for peripheral European sovereigns, not improve them.

Russia’s finance minister, Alexei Kudrin, steered the country through the global financial crisis. The country emerged not just intact, but enhanced in the eyes of global investors. Now Kudrin faces perhaps his biggest battle of all – keeping a firm hold on spending as an election approaches. By Miriam Elder in Moscow.

Israel’s resilience during the financial crisis and its aftermath proves that Stanley Fischer is worthy of the respect he commands at the top of the global financial community. Dominic O’Neill reports.

Gary Gensler is on a mission to make the CFTC the world’s most influential financial markets regulator. He wields an unprecedented mandate to interpret the statute book and thereby shape the future of banking. But his former colleagues in the banking industry claim his quest for power is based on personal ambition, causing him to ride roughshod over their reasonable opinions and creating a template that will bring unnecessary hardship to the financial industry and the broader economy. Hamish Risk interviewed the man many bankers call the “most dangerous man in finance”.

While jumbo IPOs and merger deals have hogged the headlines, the global markets have accounted for substantially the larger part of Deutsche Bank’s revenues in the region over the past decade and even the firm’s fiercest rivals are forced to concede that Boon Chye has built a formidable business. Lawrence White spoke to this year’s winner of Euromoney’s outstanding contribution to financial markets in Asia award about how he built up the business, what challenges the industry now faces and what he would have liked to have done differently.

Finance minister Korn Chatikavanij has steered the Thai economy successfully through huge political and social upheaval. But his long-term aim is to connect with Thailand’s people, and not just its financial and business elite, to bring prosperity to the majority. Eric Ellis shadowed Korn as he travelled beyond Bangkok, examining the extent of the grassroots challenges Korn faces to effect meaningful change in a country ill-served by previous incumbents.

As Michael Cohrs retires as head of investment banking at Deutsche Bank, he leaves a flourishing M&A advisory business to complement the bank’s top-three trading businesses. It’s astonishing to see this outcome and think back 15 years to his arrival with colleague Maurice Thompson from SG Warburg. Deutsche Bank had just been given the IPO mandate to privatize Deutsche Telekom but had no idea how to do the deal. Cohrs and Thompson came across to execute it in the wake of a failed attempt to engineer a takeover of Warburg by Morgan Stanley.

Pandit knocks Citi into shape

Out of adversity comes opportunity. So thinks Brian Moynihan, Bank of America’s new chief executive. He says that the much-derided Merrill Lynch takeover will seal the firm’s ambition to become the ultimate universal bank. No one doubts the size of the platform. But can Moynihan succeed where Citigroup failed and show that biggest really can be best? Helen Avery and Peter Lee report.

When Argentine president Cristina Kirchner tried to grab $6.6 billion of reserves from the country’s central bank, its governor Martin Redrado refused to play ball. A stand-off ensued that threatened a full-scale constitutional crisis. This exclusive account reveals the political tensions and the dirty tricks as Redrado struggled to maintain the independence of the central bank, eventually at the cost of his own job.

Legendary troubleshooter Oswald Grübel has had a tough first year at UBS, trying to mend the bank’s tattered reputation and staunch the outpouring of client money. But his biggest challenge may be convincing the markets that his methods are working.

Assailed on all sides for preparing to pay huge bonuses from a financial market kept alive by systemic government support, Lloyd Blankfein is having to fight Goldman’s corner almost as fiercely as when the crisis was at its worst. He tells Peter Lee that it is not business as usual.

While most have spent the past two years hunkering down, Standard Chartered has used the financial crisis as an opportunity to grow its wholesale business. Sudip Roy asks CEO Peter Sands if this signifies a change in the bank’s culture.

From the ruins of a failed, large investment bank, Vikram Pandit and John Havens are trying to build the foundations of a much better, smaller one. It’s still global in ambition but designed to deal with fewer clients, commit its capital much more thoughtfully and this time in the right businesses. Sceptics either say they’ve heard it all before or question why it took the bank’s leaders so long to reach the obvious conclusion. But the early signs are that it’s working rather well. Peter Lee reports.

Lloyd Blankfein reveals it's not business as usual at Goldman Sachs. Find out why.

Prince Alwaleed bin Talal gives has forthright views on global regulation, and the prospects for local and regional capital markets in the Middle East. He explains the role that Kingdom Holding can play in promoting Saudi Arabia’s standing in the international financial community.

The Middle East’s best-known international investor says his faith in capitalism remains unshaken. Only time will tell if and to what extent his belief in Citi, so severely tested over the past year, will endure. Taimur Ahmad interviewed him in Riyadh.

Morgan Stanley’s incoming CEO explains strategy; Mack and Chammah take new responsibilities

Bank of England deputy governor Paul Tucker understands bankers’ fear of excessive regulation, but he’s not easing up. He insists banks should improve the quality of their capital and sees no role for subordinated debt. He wants strong banks to blow the whistle on the weak and to know that, in future, the shareholders of survivors will pick up the tab for bailing out the system. Peter Lee reports.

A year after acquiring Lehman Brothers’ Asian and European businesses, Nomura says it is halfway to building a global investment bank. Few people outside the firm think it will succeed. To some, it is already the ‘other Lehman takeover’. But Nomura’s leaders are determined to win the battle. Lawrence White and Helen Avery report.

With nearly 30 years’ experience at the central bank, Durmus Yilmaz is the ideal person to steer the country’s financial system through the global credit crisis. Sudip Roy reports.

The finance minister has enhanced his country’s reputation for sound fiscal policy that takes full account of social justice, while a strong regulatory regime has kept the financial sector out of the chaos. Helen Avery reports.

Bank of England deputy governor Paul Tucker understands bankers’ fear of excessive regulation, but he’s not easing up. He insists banks should improve the quality of their capital and sees no role for subordinated debt. He wants strong banks to blow the whistle on the weak and to know that, in future, the shareholders of survivors will pick up the tab for bailing out the system. Peter Lee reports.

The head of the Hong Kong Monetary Authority, winner of Euromoney’s lifetime achievement award in Asia, talks to Lawrence White about his career and how regulators should respond to the crisis.

In a speech at the Euromoney Awards for Excellence dinner in London July 8th, Deutsche Bank’s chief executive Josef Ackermann called on the industry to engage with governments and regulators to help inform inevitable changes in the global banking industry, to help preserve the vital role that banks play in promoting global wealth and enhancing global trade.

Of the few global banks to have survived without state assistance, HSBC is the best positioned in the most attractive emerging economies. Its global banking and markets business is thriving. Its rights issue confirmed it as a better credit than many governments, and deposits have flooded in. Regulators will force other banks to copy it. Best of all, it has admitted its mistakes. Peter Lee reports.

Brady Dougan and Paul Calello stripped down Credit Suisse’s investment banking vehicle as the credit crisis hit. Now they’re showing off a streamlined, non-polluting, yet powerful firm that even their competitors admire. Is Credit Suisse the model of a new investment bank? Clive Horwood reports.

The leaders of nine of the world’s pre-eminent financial institutions discuss the challenges facing the global banking industry: restoring trust among policymakers and stakeholders; avoiding regulation that will hurt economies as well as banks; bringing compensation back into line; and making money in a radically changed world.

It has already won a reputation as one of the world’s leading hedge funds. Now Citadel has its sights set on investment banking. Chief executive Ken Griffin sees a sweet spot where many firms have left the stage. He normally succeeds in his goals. Chief executive Ken Griffin believes his newly expanded business will be a force to reckon with on Wall Street, says Helen Avery.

Larry Fink wants BlackRock to be one of the key names in finance for the future. Consolidation of investment managers – possibly including BGI – may achieve that goal. But his firm’s influence on the present is already great, as adviser of choice to banks and governments alike on problem assets totalling $7 trillion. Peter Lee reports.

Foreign exchange, money markets and rates have returned Deutsche Bank to profitability. Anshu Jain, the firm’s global head of markets, says it’s all down to applying smart solutions to relatively simple products. But don’t be fooled into thinking he’s given up on more complex business. Clive Horwood reports.

"We can have all the rhetoric we like, but at the end of the day we have to go out there and do the business."

Euromoney was the last publication to carry an in-depth interview with Marcel Rohner before he resigned as CEO of UBS at the end of February. In the interview he details the challenges that will now face his successor, Ossie Grübel.

UBS’s chief executive was the first global bank head to tackle the impact of the credit crunch. His actions may have saved the bank. Much remains to be done. The future of the firm’s investment bank is in doubt. And so will Rohner’s own position be, if he doesn’t quickly return the bank to profit and shut the door on outflows in its wealth management franchise. Clive Horwood reports

The European Central Bank’s president knows that confidence must be restored before markets begin to function normally again. But he believes that the concerted action of central banks and governments means financial institutions should now be preparing to restore normal lending and borrowing relationships.

In his most detailed interview since the collapse of Lehman Brothers in mid-September, Trichet calls upon the top management of commercial banks to “recognise that they are operating in an environment in which a lot of the fundamental risks to liquidity and solvency have been addressed.”

Martín Redrado, president of the Central Bank of Argentina, tells Sudip Roy why the banker should get through the global crisis intact.

Mian Mansha is the richest man in Pakistan and owns one of the best banks in Asia. However, his ambitions reach much further. In his first ever foreign media interview, Mansha discusses his plans to expand his empire geographically, and to create a new holding company and list his various interests on the LSE.

Mian Mansha owns one of the best banks in Asia but his ambitions reach much further. He plans to create a new holding company and list his various interests on the LSE. And he hopes to expand his business base across Asia and into the Middle East and emerging Europe.

Today, Japan’s Mitsubishi UFJ group announced its intention to acquire a stake of up to 20% in Morgan Stanley. In an interview for Euromoney’s September edition, MUFJ’s chief executive Nobuo Kuroyanagi spoke about the bank’s intention to take advantage of opportunities presented by the global credit crunch. We publish exclusive excerpts here.

Jean-Claude Trichet, European Central Bank.

Outstanding contribution to finance: Dr Sri Mulyani Indrawati, Indonesia

Mexico’s central bank governor has achieved rock-star status with his tough line on inflation by standing up to the president’s pressure to reduce interest rates.

China’s finance minister has had a difficult first 12 months in charge, but has succeeded in maintaining the country’s economic momentum.

Alliance & Leicester is the latest rabbit that Emilio Botín has pulled out of his hat as Santander continues its inexorable rise. Botín has now cemented his reputation for being a dealmaker as well as one of the most talented retail bankers in history. What else does he have up his sleeve? Clive Horwood reports.

Al Gore, the former vice-president of the US, is the most high-profile figure in the fight to force action to combat global warming. He explains why a new approach to investment is needed, adopts an unusual position in the carbon tax versus cap-and-trade debate, and says banks are generally ahead of the game – but still have a lot more to do.

In an interview with Euromoney Zhou Xiaochuan, governor of the People’s Bank of China, reiterates that China will not be bullied into changing its exchange rate policy, admits that the central bank is watching closely for signs that the economy is overheating, and says that the People’s Republic is keeping its dollar exposure in line with the market average.

Serbia’s minister of the economy and former finance minister is uncompromising – and his approach has been crucial to the revival of his country’s economic fortunes.

The Brazilian has brought a sense of euphoria back to the country and established it one of the four key emerging nations, as part of the Bric group.

Sinan Al-Shabibi, governor of the Central Bank of Iraq, speaks to Sudip Roy about the bank’s efforts to control inflation, curb exchange rate instability and cope with the difficult security situation.

When Stan O’Neal spoke at the Euromoney Forum in London in late June, concerns about the fallout from the sub-prime correction were at their height. In a wide-ranging interview with Euromoney’s editor, Clive Horwood, Merrill Lynch’s chairman and chief executive discussed the market’s reaction to sub-prime, and whether or not the contagion would spread.

In the July 2007 edition of Euromoney, Bank of America CEO Ken Lewis gave a rare in-depth interview. Lewis said: "We are not believers in the build it and they will come mantra. We need to look our shareholders in the eye". "In time, we want to be one of the top five investment banks in the world". More than 18 months ago Euromoney said: "Bank of America is at a tipping point. Ken Lewis is about to face his biggest challenge yet." Little did we know how great the challenge would be. Re-read the story here

John Mack has the job he always wanted. One of Wall Street’s leading firms has the leader it desperately needed. Morgan Stanley is now the investment bank with momentum. Mack and his senior management tell Clive Horwood how they revived the firm’s fortunes.

Yemen is the Arabian peninsula’s anomaly. With one of the world’s poorest and quickest-growing populations, it sits uneasily next to booming petrodollar earners such as nearby Saudi Arabia or the United Arab Emirates.

When Herbert Stepic bought his first bank in central Europe in 1987, hardly anyone noticed. Now competitors closely follow his every move. On the following pages, he tells Sudip Roy how Raiffeisen’s strategy has developed over the past 20 years and how he intends to stay ahead of the game.

Eisuke Sakakibara is known as Mr Yen for the influence of his pronouncements on Japan’s currency and was Japan’s vice-minister for finance for international affairs from 1997 to 1999. An internationalist famed for making key policy speeches in English, he argues in this interview with Tetsuya Shibata that Japanese companies must become more outward-looking to prosper.

Proponents of the merger between the New York Stock Exchange and Euronext believe it will enhance Paris’s position as a financial centre as the $14 billion deal promises to maintain independence. One cheerleader has been Daniel Bouton, chairman and CEO of Société Générale. At the Euromoney Paris Forum, held at the close of 2006, he was interviewed by Mark Johnson, Euromoney’s editor of conferences.

Mark Johnson interviewed to Daniel Bouton, chairman and chief executive of Societe General at the recent Euromoney Paris Forum.

Chris Garnett interviewed Baudouin Prot, chief executive of BNP Paribas at the recent Euromoney Paris Forum.

The liberalization of Pakistan’s financial sector has generated unprecedented growth in the number and size of the country’s banks. Pakistan’s central bank governor, Shamshad Akhtar, discusses the challenges posed by the dramatic growth in the financial industry.

One of the surprise consequences of the merger between Intesa and Sanpaolo IMI was that it resulted in yet another foreign bank carving out a strong presence in the Italian market. In exchange for its support for the merger with Sanpaolo, Intesa ceded to French bank Crédit Agricole, a long-time partner and investor, control of two regional banks and some 200 Intesa branches. But there are still questions about the future of the former partners’ asset management joint venture and some analysts question the generosity of the divorce settlement. Georges Pauget, CEO of Crédit Agricole, speaks to Peter Koh.

Indonesia’s young finance minister has made some key decisions since her appointment, winning many friends abroad. Some tough challenges lie ahead; to meet them, Mulyani will need to win more friends at home. Chris Leahy reports.

Riad Salamé faces yet another test of his skills following the outbreak of war between Israel and Hizbullah. He has dealt with previous challenges with flying colours. There’s little to suggest it will be different this time. Sudip Roy reports.

Árni Mathiesen, Iceland’s finance minister, speaks to Laurence Neville about this year’s economic troubles and the economy’s prospects.

ING Direct has built a top-10 retail bank position in eight of the nine markets it operates in. It is is without doubt the most successful internet bank in the world. In fact it is arguably one of the most successful banks of any kind given the rapid and substantial inroads it has made in mature markets.

Daniel Bouton, chairman and CEO of Société Générale, discusses in detail his bank’s culture and strategy with Euromoney’s editor, Clive Horwood.

What lessons did Stan O’Neal learn from the restructuring of Merrill Lynch at the turn of the decade? What are Merrill’s plans in mortgages, private equity and asset management? And what continues to drive Merrill’s CEO forward? O’Neal reveals all to Clive Horwood in his first in-depth interview since becoming the firm’s chairman and CEO.

Argentina’s central bank president reckons that it will take at least another two or three years before his country’s economic variables normalize. Martin Redrado says that although Argentina has made progress since the 2001/02 financial crisis, more patience is needed before it can achieve sustainable growth.

Billionaire prince intends listing, scheduled for Q4 2006, to change the rules for foreign investment in the Saudi stock market. Peter Lee reports from Riyadh.

Domestic criticisms of Deutsche Bank’s international focus have not passed it by, prompting plans to develop its business at home. But as Jürgen Fitschen, who leads the initiative, tells Philip Moore, his bank does not intend to imitate rivals’ indiscriminate wooing of medium-size companies.

Thai capital markets are set for a bull run. SCB's president, Khunying Jada Watthanasiritham, expains how her bank, and other local firms, can profit despite growing interest from international banks.

In December 2001, the government defaulted on $81.8 billion of debt repayments and broke the peso’s link with the dollar. When Nielsen was appointed in May 2002, the country was in the midst of one of the worst financial, social and political crises to hit any country since the Great Depression. His job, together with that of his economy minister, Roberto Lavagna, was to help restore stability and turn around Argentina’s financial fortunes.

Citigroup wants to pioneer a new type of private banking for active wealth creators. Helen Avery speaks to the man who aims to drive the firm forward.

The Inter-American Development Bank’s new president, Luis Alberto Moreno, speaks to Sudip Roy about his plans to make the bank’s policies more relevant to the private sector in a region that is attracting growing investment inflows.

Wachovia's Ken Thompson wants his firm to be the best financial institution in the US. His ambitions extend to investment banking. As Wachovia makes its move on Wall Street, Kathryn Tully spoke to Thompson and the rest of his management team. Should the traditional bulge bracket be concerned?

In 2002 the Dubai authorities announced the appointment of a distinguished chairman to its financial regulator that would give credibility to the country's attempts to establish itself as the leading Arab financial centre. Just two years later he was fired. Now, for the first time, Ian Hay Davison gives a first-hand account of the events that led to his dismissal. In the following linked article, the current chief executive of the DFSA gives his response

In just two years, Nigeria's finance minister has helped to transform foreign perceptions of her country. Her crowning achievement was the Paris Club deal, but her reforms have much greater implications for Nigeria's economic future.

The woman who has run the central bank since 2000 has overseen reform of the exchange rate, the capital markets and the banking industry. With her encouragement the country has also become a hub for Islamic finance.

John Costas speaks to Euromoney about the achievements of UBS's investment bank during his tenure as chief executive and the legacy he leaves to his successor.

With a long history in the region, the most extensive network of any bank and a full suite of financial products, Citigroup is the biggest force in Asian banking. Yet it is still facing challenges. Chris Leahy spoke to Robert Morse, chief executive officer, corporate & investment banking, Citigroup Asia Pacific, about the bank's performance in Asia

As investment banks try to cut the cost of research for clients, outsourcing is taking on an ever-increasing and ever more important role in keeping costs under control. For the providers of these services, such as Copal Partners, the key is to move on from simply crunching the numbers to providing in-depth research for their clients on debt, equity and corporate finance.

Last year, at the IMF meetings in Dubai, the Iraqi delegation was led by Adil Abdul Mahdi. At the time, he was already a leader of the Supreme Council for the Islamic Revolution in Iraq, the leading Shiite party in the country.

Today, Mahdi is minister of finance in Iraq's interim government, charged with restructuring the country's debts before the end of the year. Here, he speaks to Euromoney in his first detailed comments on the subject since he took office.

Slovakia boasts the fastest growth rate in central and eastern Europe as it turns from regional laggard to leader. It has boosted growth, controlled government spending and attracted FDI with a tax policy some of its larger neighbours dislike. They won't intimidate finance minister Ivan Miklos.

In 20 months as governor, Alfonso Prat-Gay built a credible central bank from almost nothing, managed the money supply brilliantly, oversaw currency stability, kept rates low and even began whipping the banking sector into shape. For these achievements, he is Euromoney's central bank governor of the year. But he also strove for greater independence for the central bank. Now, on the eve of the country's crucial bond exchange, president Nestor Kirchner has chosen to dispense with Argentina's most internationally respected policymaker.

Hossein Abdoh Tabrizi obtained a doctorate in finance from the Manchester Business School in 1977. He has been secretary-general of the Tehran Stock Exchange since May 2003 and is also a member of the exchange's high council. He speaks to Euromoney's Kate Luxford.

Anvar Saidenov, the new governor of the National Bank of Kazakhstan, speaks to Euromoney's Nick Kochan about efforts to diversify the economy, control the inflationary effects of foreign currency inflows and develop more active financial markets.

Philippe Maystadt, president and chairman of the board of directors of the European Investment Bank, speaks to Euromoney's Mark Brown about the bank's lending policies, criticisms from the European Parliament and the bank's response to EU enlargement.

Anatoliy Shapovalov, deputy minister of finance of Ukraine and head of sovereign borrowing

One of the main drivers of economic growth in eastern Europe has been the accession of its states to Nato. Julian Evans meets Bruce Jackson, the former investment banker who made it happen.

Ibrahim bin Abdulaziz Al-Assaf, Saudi Arabia's minister of finance and national economy since 1996, has steered the economy through a difficult period. He has played a leading role in the modernization, diversification and liberalization of the Saudi economy and managed its finances prudently in a period in which oil prices have swung between $10 and $30 a barrel. Al-Assaf, a 54-year old economist who has served as the country's executive director at the World Bank for six years and as vice-governor of the Saudi Arabian Monetary Agency (Sama) and wins Euromoney's finance minister of the year award for 2003, spoke to Nigel Dudley in his office in Riyadh.

National Bank of Kazakhstan's governor, Grigori Marchenko, won't say it, but he has been the main influence behind his country's widely acclaimed economic success story.

Euromoney's Chris Cockerill speaks to Suchart Jaovisidha, Thailand's new finance minister, about non-performing loans, competition from China, the impact of Sars on tourism earnings and the plan for a pan-Asian investment fund, the Asia Bond Fund

The president of the Philippines, Gloria Macapagal Arroyo, speaks to Euromoney's Asia editor Chris Cockerill about the state of the economy, the battle against corruption and the future of the country after her term of office finishes.

Société Générale chairman Daniel Bouton speaks to Euromoney’s Jennifer Morris about his bank’s performance, strategy and prospects

Ian Macfarlane points to the dynamism of Australia’s economy, neglected by a market that went hi-tech mad, as part of the reason for his success at the Reserve Bank of Australia. But he’s made a few good calls of his own.