North America

The 2017 US proxy voting season was historic: the world’s two largest asset managers backed shareholder resolutions on climate-risk disclosure. BlackRock and Vanguard, with $10 trillion in AuM between them, are becoming more transparent about their voting. They will play a crucial role in the future of ESG.

The Goldman Sachs chief shows how less can be much, much more.

WisdomTree Investments is the latest acquirer of an ETF specialist looking to boost its credentials in smart beta, even as analysts urge end-investors to question the validity of this new so-called asset class.

Hard-ball US-style activism is unlikely to succeed in Europe.

SEC action just delays a final reckoning on the rules.

Fragmented liquidity has helped make financial extranets fundamentally important tools for global FX market players, but traders need to do their due diligence in picking the right fit for their strategies.

Banks face lawsuits over pay inequity as regulators now take diversity into their own hands.

The conviction of former HSBC trader Mark Johnson for front-running a customer FX order could transform the way dealers hedge client trades – and how they communicate with each other.

Banks’ third-quarter results show fixed income trading still depressed and CIB revenues mostly down, but UBS is looking remarkably perky, especially in equity capital markets. What’s up?

From integration to level playing fields: the discussions at this year’s IIF meetings in Washington were dominated by talk of combating divergence. Other familiar complaints were still present, but the overall tone was less fearful than in 2016.

Bankers see European capital markets union as more needed than ever to help drive growth in the region, but are fretting about slow progress and a scope some feel is too narrow – however, an EU official attending the Institute of International Finance meetings in Washington defended the bloc’s approach.

Cryptocurrency architects have unveiled Bitcoin Gold, a new currency based on the bitcoin network set to begin trading in December, which attempts to resolve what some see as the excessive influence miners have on the bitcoin network.

Co-location providers are getting a boost from higher levels of electronic trading, the ambitions of Asian brokers to grow their businesses in Europe, ongoing concerns over cybersecurity and regulatory factors.

The more mainstream banks pour scorn on cryptocurrency, the greater their investing clients’ interest in new investment products for taking exposure in regulated markets.

The lead candidate, Fed insider Jerome Powell, promises continuity and investors would no doubt be relieved to see him step up, but they might swoon if Trump nominates persistent Fed critic John Taylor.

Barclays CEO Jes Staley has staked his future on the ability of four markets veterans to produce a fast turnaround in performance at the firm’s investment bank.

The level of understanding around the implementation of Payment Services Directive II (PSD2) is lacking for both corporates and consumer alike, although they are the parties that are meant to benefit.

A lack of cooperation and coordination among regulators is increasing systemic risk.

BNY Mellon and HSBC hope that, in an illiquid fixed income market with no registry of beneficial owners, their asset management clients may benefit from alerts about other counterparties wishing to buy or sell bonds.

I don’t know why at first, but watching Donald Trump tell Fox News in October that because the value of the US stock market has risen by $5.2 trillion since he became president that “maybe in a sense, we are reducing the debt” makes me feel warm inside.

Some 43% of US sub-investment grade lending in third quarter of this year was to borrowers rated just single-B. Now is not the time to revisit the 2013 guidelines.

And the big three – State Street, JPMorgan and BNY Mellon – will only be stronger.

While foundations may be known for their giving, their investment portfolios lack creativity when it comes to solving environmental and social challenges. Some are taking their missions further.

In true clickbait style, Euromoney offers some highlights from this year’s IMF/World Bank meetings.

Delegates at this year’s IMF/World Bank meetings are managing to look beyond macro concerns to present a more upbeat tone.

As more retail and high-net-worth investors embrace cryptocurrency, lightly structured delta-one synthetics now allow institutional investors to allocate to a new asset class.

Bankers might have spent much of this year’s IMF meetings fretting over where they might find growth, but the only growth worrying Washington’s cab drivers was the awesome sum being raked in by the city’s traffic cameras.

Treasurers are exploring the investment options open to them in the face of continued low interest rates and money market reforms.

The departure of SoFi founder Mike Cagney as CEO should serve as a warning against believing the hype about fintech firms without testing the self-interested assertions of their managers.

Ex-Lending Club chief poised to retry securitization; technique ‘essential’ to online lending business.