Kevin Rodgers gives his personal views on the trial and conviction of FX banker Mark Johnson and its ramifications for global markets. Anyone working in banking should consider what it means for them.

More and more private equity sponsors in Europe are now comfortable using direct lenders in their deals – indeed many have done so multiple times. After a record volume of fundraising in 2017, funds are competing ever more fiercely for the mandates on offer – and in the process some are losing sight of the real risk adjusted returns that they are chasing.