CEO, Recovery Partners

The after-effects of September 11 made for a tough time for airlines and hotels. Businesses banned non-essential air travel, leading to record losses among the biggest airlines which were in any case being squeezed by low-cost rivals.

The five-year battle between Nasdaq and ECNs is heating up. Nasdaq launches SuperMontage in July, a worthy rival to the ECNs’ trading systems that could win back dealflow. Meanwhile ECNs are depriving Nasdaq of crucial revenue. Is this the start of the trading endgame?

Morale in the equity division won't have been high at JPMorgan's London offices following the news of Geoffrey Boisi's departure. Its recovery won't have been helped by the departure in quick succession of three of the bank's top-ranked research analysts.

Issuer: Petronas Capital Limited Amount: $2.675 billion Launched: May 14 2002 Bookrunners: Morgan Stanley, Citigroup, Barclays Capital, HSBC

US and UK law firms are collaborating and competing with domestic peers to reap the benefits of the Japanese securitization boom.

There's nothing like a good piece of news management. UBS had the chance to show its skills with its handling of Markus Granziol's departure.

Head of global markets for Asia, Deutsche Bank

Progress at the Indonesian Bank Restructuring Agency is crucial to dragging the country out of a mire of debt. Its new chairman, the seventh to hold the post, is well regarded. But he has suffered an early setback. Is this the toughest job in Asia?