To open a bank at any time is brave, especially in Russia. To have started trading in 1993 aged 23 while still at university, takes something special. Andrey Melnichenko studied physics at Moscow State University before starting up his own bank with four friends.

Many of South America's business families are weary. They have survived wars, military dictatorships and debt crises but the arrival of foreign competition is proving the final blow. Lacking an heir both willing and able to take on the modernization task, they are selling out - often to private equity funds in deals brokered by corporate financiers. The latest to start the process is Bunge International, the giant soyabean to branded foods conglomerate, started by European immigrants to Argentina at the end of the last century. So far it's been a painful retreat in which shareholder disputes long hindering Bunge's performance have carried on over a recent asset sale.

The chiefs at GE Capital Services attribute their success to not behaving like bankers. Their approach ­ moving from financial services into related businesses ­ has amassed assets of $255 billion and contributes 40% of parent GE's income. But driving force Gary Wendt has just retired and along with him goes ­ or so it seems ­ his strategy of growth by acquisitions. Where next for his creation?