Royal Bank of Scotland is beefing up debt headcount aggressively. In its fixed-income division, RBS Financial Markets, staffing was up 25% last year. This year it aims to accelerate that growth. If it is to fulfil its ambitions to grow from a strong sterling and loan house to a broader business in euros and dollars, it has no choice but to recruit fast.

Junk mail drives most westerners mad. But if a Russian gets a personally addressed letter on his birthday offering a tempting gift at half price he might be so pleased he will include a thank-you note with his order.

Kazakhstan

All numbers in this directory are Dubai area code prefix (04) unless stated otherwise. If dialling from abroad prefix the number with country code (+971 4). If you have difficulty with the numbers listed below, please call directory enquiries on (04) 180, or refer to your domestic international directory enquiries service if calling from overseas. While numbers are subject to change, we have made every effort to ensure the information in this handbook is correct.

Issuer: Islamic Development Bank

If Kazakhstan's success in making the transition from Soviet planned economy to free market is anything to go by, it has a better chance than many oil-rich economies of successfully harnessing its wealth.

What are the defining traits that good investment bankers share? Energy, creativity, entrepreneurship, willingness and ability to take risk, the strength of intelligence to form independent views of the world and the courage to back them: all traits that tend to be driven out of people when they become institutionalized within large organizations under cynical leaders. Everyone toiling at the coalface in a large bank should take lessons from the stories that follow of those who have quit to set up on their own. There's never been a better time to do it.

Property consultant

With Islamic banking business growing faster than more conventional financial services, competition to provide new products is heating up.

Oman

National Bank of Kazakhstan's governor, Grigori Marchenko, won't say it, but he has been the main influence behind his country's widely acclaimed economic success story.

Barbados

Risk CapitalManagement Partners | Hill Street Capital | Integrated Finance Ltd | NewSmith Capital Partners | City Capital Corporation | Oriel Securities

Latin America's poor economic performance in the past decade has overturned analysts' judgements that getting rid of the region's dictatorships and introducing free-market reforms would clear the path to sustainable economic growth.

Bedlam Asset Management | OneWorld Securities | ABS Investment Management | Gramercy Advisors Bedlam Asset Management

IMF Delegates

Schadenfreude greeted the demise earlier this year of Violy Byorum & Partners. Founder Violy McCausland's uncompromising style had irked those inside and outside the firm. Now she's trying again, this time on her own.

THE CEO OF a leading investment bank recently offered Euromoney a telling judgement on the state of the sector. "There is now more talent outside the industry than inside it," he noted, reflecting on the exodus from the big banks of some of their brightest and most successful people.