Investors' willingness to accept shares in foreign-owned companies could lead to a boom in European activity

Bank of America announced in June its intention of investing $3 billion for a 9% stake in China Construction Bank, China's second-biggest state lender, as part of a strategic move into the country. In a deal that took the market by surprise, Bank of America stated that it had entered into agreements with CCB to provide strategic assistance in relation to, inter alia, corporate governance, risk management, credit cards, consumer banking and treasury services. Bank of America is presumably salivating over the prospect of CCB's 136 million retail accounts and 14,500 branches.

Boards are faced with a tough decision on a structure to combine the banks' strengths in central and eastern Europe

As nominal returns have fallen, investing in hedge funds has become more difficult. Recent high-profile failures in the UK and Asia illustrate that more than ever, it's important to pick the right strategy and the right manager

Schell to Citi Citigroup has hired Michael Schell to become vice-chairman of global banking from law firm Skadden, Arps, Slate, Meagher & Flom, where he was senior partner and senior member of the mergers and acquisitions group. Schell will take up his position at the beginning of August. This is the second senior hire by Citigroup into its advisory business in two months, following the recruitment of Raymond McGuire from Morgan Stanley in May.

Investors keen on domestic market exposure are to be catered for by a new index range

The US firm's business mix is making it more difficult to bring success in the primary markets

Bankers report a material shift in confidence levels among investors

ECNs have sold themselves by claiming to offer fast, competitive, electronic execution. But research suggests only the electronic claim is true.

"Alan Greenspan is positively giddy about the beneficial effects of credit derivatives," said Frank Partnoy at the Euromoney Global Borrowers Forum in London in June.

The masters of retail banking | Getting back to the Abbey habit | Awards for excellence - Best bank

Singapore: CAO executives charged

Santander's retail banking specialists' biggest challenge to date will be to turn around the fortunes of Abbey. Can the Spanish bank's model be successfully applied to the highly competitive UK market?

Eight out of 10 investors say they have yet to use the heavily marketed trades

These benchmark awards highlight high-quality products and services across all areas of commercial and investment banking, regionally and globally.

Kensington concerns:

Fighting corruption, the scourge of the Philippines, was a major platform of President Gloria Macapagal Arroyo's election campaign in 2004. Elected, one would expect her to be proud of the zeal with which some in her administration are tackling the issue. It seems some of her colleagues were not so certain, however, and chose to take matters into their own hands.

The annual guide to the leading banks across the globe by market capitalization, plus all the other key statistics you need, including the largest banks in every region.

Governments swap to raise creditworthiness

Saudi Arabia's Capital Markets Authority has moved closer to full implementation of the 2003 capital markets law by announcing the imminent licensing of non-bank financial intermediaries. CMA governor Jammaz Al-Suhaimi said in late May that regulations on the establishment of brokerages would soon be issued; this will put an end to Saudi commercial banks' monopoly on share trading in the kingdom. However, foreigners look set to remain excluded from offering brokerage services. Nahed Taher, senior economist at National Commercial Bank (NCB), and an adviser to the CMA committee reviewing the brokerage regulations, says the rules should appear by mid-July. They will be accompanied by rules regarding applications for asset management and financial advisory licences. She expects that financial advisory companies will be required to have minimum capital of SR400,000 (just over $100,000) while brokerages will need minimum capital of SR2 billion (about $500 million).

Fund management:

In another example of Hutchison Whampoa raising cash to continue the long-term funding of its loss-making 3G business, the conglomerate announced in June the sale of stakes in Hong Kong's port operations to Singapore arch-rival PSA International. The group, led by Hong Kong's richest man, Li Ka-shing, announced the sale of a 20% interest in cash cow Hutchison International Terminals (HIT) and a 10% stake in Cosco-HIT, a joint venture with China Ocean Shipping (Group) Co.

Signs of a revival of investor interest in convertible arbitrage hedge fund strategies as funds spot opportunities in a depressed market

The US firm is committed to breaking into the European debt markets – again

"In 1994 banks held 70% of all loans. That's now dropped to 29%. Institutional investors now hold 64% of loans. That's not syndicated lending, it's capital markets. They need to change the name."

Issuers are uncertain about the implications of the EU Prospectus Directive

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

GREs get a pick-up from rating change Government-related entities (GREs) got a substantial lift from Moody's Investors Service when the credit rating agency

The German exchange aims to take on CME to tap the growing interest in FX as an asset class

People moves: