Off the Record
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LATEST ARTICLES
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“Citigroup should wipe the floor with everyone in credit derivatives. What happened?”
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“I was meant to buy a new house today. All the financing was in place. Everything was agreed. Then a Russian turned up with a bag of cash and gazumped me. My wife’s not very happy.”
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“OK, if there were a big credit event, and if it coincided with one of the dealers going down, there would be a problem. How many ‘ifs’ do they want?”
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“It’s nearly impossible to say which one you would choose when they go head to head in a pitch for passive mandates. They’re 10-ton gorillas that joust at the top.”
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“I have 18 proposals from different banks all offering the same type of deal. When you pile them one on top of the other they stand over a metre high. I am suffering from lead harassment”
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"Listen, I'm one of the biggest risk managers in Europe. I run a credit risk book of over €60 billion. By comparison most funds are little pussies."
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"£875m for The Priory! Why buy it? Maybe they have a view on the secular growth in the bulimic market"
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"This is the best year without a doubt. We are not in the charity business, right? We are doing this to make money and you can rest assured we are very successful in our business." -An unnamed banker making one of the more aggressive – and honest – pitches for a Euromoney Award for Excellence