Twelve Wall Street firms are in the early stages of developing a single trading portal alliance platform, operated by Nasdaq, for all 144a securities. The companies hope the platform will bring liquidity and transparency to the 144a market, which has been associated with unregistered, opaque trading.

Despite reporting its first annual loss in 2007 and forecasts of further credit write-downs in the first quarter, Merrill Lynch is getting out the chequebook for its Latin American business. The firm has gone on a shopping spree and plucked the cream of the Latin American investment banking crop, especially in Brazil.

Bankers at HSBC’s Canary Wharf headquarters have issued a damning verdict on their own staff canteen by adding a review of it to the popular London restaurant guide London Eating, giving it an overall score of just 2.5/10.

While investment bankers in the west expect a difficult 2008, counterparts in Asia cite the successful closing of buyouts, bond issuances and IPOs during the market turmoil as proof of the region’s opportunities. Lawrence White reports.

Funds move to more aggressive investment strategies.

“Misunderstanding risk is, now more than ever, a potentially fatal risk for business” -Gregory Case, Aon Corporation