In 20 years, RZB has gone from being an Austrian also-ran to a central and eastern European market leader. Much of its success is attributable to the vision of Raiffeisen International’s CEO, Herbert Stepic. No wonder he is known to the Austrian masses as ‘Der Cash-Man’. Guy Norton looks at RZB’s ambitious plans for further expansion in the region, and Sudip Roy finds out what keeps the fire burning in Stepic’s belly.

George Nianias talks to Guy Norton about the challenges of unearthing corporate debt opportunities in the far-flung reaches of Russia.

Buying into the IPO of a private equity company is like a game of pass the parcel in which someone has already made off with the prize. Those that choose to play will end up disappointed.

Euromoney has incorporated its annual credit research poll into a new fixed income research survey. The intention has been to give those banks that no longer follow the traditional fundamental sell-side credit research model a chance to be nominated by their clients.

A series of CMBS deals have triggered or are threatening to trigger their available funds caps.

Joint venture with local player and a multi-strategy approach.

Buying an oil-producing company in Kazakhstan is by no means a straightforward process, as Citic’s acquisition of Nations Energy makes clear. Nor is the Chinese company’s future in the country at all clearly signposted. Elliot Wilson reports.

Following the departure of Sebastian Chatel to Credit Suisse, UBS has named Evandro Pereira as its new head of Latin American equity capital markets. Managing director Pereira previously ran capital markets in Brazil at UBS Pactual. He will now report to Tom Fox and Matthew Koder, co-heads of global ECM.

European credit strategist Gary Jenkins has joined Synapse Investment Management as a partner and portfolio manager in the credit strategy team. Gary was previously a managing director and head of fundamental credit strategy at Deutsche Bank, and before that was a managing director and head of credit research at Barclays Capital.

Financial markets are always dynamic places and constantly evolving as they embrace change. Today’s foreign exchange market is no exception and it is arguably developing at a faster pace than at any other time in its history. So how will it look in five years’ time? Lee Oliver asks leading FX participants to peer into the crystal ball.

After years of stellar performance can Russia’s hedge fund managers continue to produce such strong returns for their investors? Guy Norton reports from Moscow.

General Atlantic, a global private equity firm, has taken a stake in the Global Electronic Trading Company. Bill Ford, GA’s chief executive, and Rene Kern, its managing director, will join Getco’s board. GA has been steadily investing in the financial services sector. It has taken stakes in what it describes as innovative, technology-driven companies, including Saxo Bank.

Latest securitization refinancing of GHG healthcare group is a puzzlingly complex hybrid deal that will be largely retained by arranger Barcap.

Oman’s landmark Blue City project has been dragged into a legal dispute after one of the project’s financial advisers was sued last month.

The Russian investment story is moving outside Moscow and St Petersburg. A wave of foreign investors, led by the EBRD, is heading out into the Russian regions, looking for the next frontier of investment bargains.

Guaranty Trust Bank (GTB) came to the market in January with a $350 million Eurobond and became the first domestic borrower from Nigeria to access the international markets. Since then, two other banks, First Bank of Nigeria (FBN) and First City Monument Bank (FCMB), have also completed international deals.

If marrying a multi-millionaire hedge fund manager is appealing in any way, women should check out the competition they face in New York Magazine’s listing of the top six hedge fund managers’ wives in April.

Ulf Persson, managing partner of Mint Capital, talks to Guy Norton about the challenges of the Russian private equity market.

Securitization used to be a dirty word in Brazil, with many investors intimidated by the risks of such a complex product and suspicious of promised double-digit returns in the local real currency. But since the creation of the fundos de investimento em direitos creditorios (credit receivables funds), FIDCs have become the vehicle of choice for non real-estate securitizations in Brazil, and foreign investors are flocking en masse to the market.

Macro fund on losing streak; incentive fees down 88% in February quarter.

You need look no further than Baring Vostok Capital Partners to see how far alternative asset management has developed in Russia.

Fast-growing Russian Agricultural Bank plays a key role in promoting economic development in the Russian countryside. Guy Norton talks to Yuri Trushin, the bank’s chairman, about the challenges it faces.

Eighteen months after buying HVB, Italy’s UniCredit is close to finalizing its disparate emerging European businesses’ integration under the parent’s banner. But what is the next step for the bank and its head of the region, Erich Hampel?

Çalik Holding is one of the Turkey’s largest conglomerates, with total assets of $2.4 billion. It has interests in textiles, construction, energy, telecommunications, financial services and trade. Chloe Hayward talks to Çalik’s management about the company’s debut bond issue and the impressive growth path that lies ahead.

The booming Saudi economy is drawing the big international banks into the Kingdom, hoping to make a fortune from selling their expertise in banking and investment products to its wealthy individuals. If the newcomers expect to trample over the local incumbents, they had better be careful not to trip over Samba. It even provides a lesson in how Saudi bankers can thrive once freed from the dead hand of a big international parent. Peter Lee reports.