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Opinion

Abigail with attitude: Mark Carney – the new Bob Diamond?

A seasoned source told me a few months ago that Diamond’s tenure was abruptly terminated because "He was foreign! In this new era of heightened public scrutiny and domineering regulators," the source sighed, "your cultural values and background have to be aligned with those of the national authorities. If your face doesn’t fit and there’s a setback, you are out. It happened to Bob and it happened to Vikram Pandit at Citi. Anshu Jain, over at Deutsche, needs to watch out."

Abigail Hofman, May 30, 2013

CAPITAL MARKETS

Mongolia banks on mining project

With fresh signs of political and legislative progress, there is a renewed sense of optimism around the country after more than a year of political posturing that cast a pall over the nation and put the brakes on foreign direct investment that sent asset prices tumbling.

Duncan Kerr, May 30, 2013

Treasury

Transaction banks: The chicken or the reg?

What comes first for transaction banks? Their financial institutions clients want them to help meet new challenges – especially around regulation and depressed earnings – through innovating new products. But the big cash managers find most of their technology budgets focused on dealing with regulatory burdens.

Laurence Neville, May 30, 2013

CAPITAL MARKETS

Vietnamese PE toils with investors

Private equity pioneers admit they’ve made mistakes. Now, they’re struggling to raise new funds, but they are not giving up. New sectors and revised exit strategies will be key to the next wave of deals.

Elliot Wilson, May 30, 2013

BANKING

Emerging Europe: Slovenia buys time with reform package

15 companies slated for privatization; Eyes on Russian, Turkish buyers

Dominic O’Neill, May 30, 2013

CAPITAL MARKETS

Sovereign bonds: Portugal passes milestone on a difficult road

The country’s recent sovereign bond might or might not amount to a return to full market access, but it is certainly a positive development. Its progress on its economy and the state of its banks is equally crucial.

Chris Wright, May 30, 2013

Asia: Cerberus enters the Lions’ den

Japan’s Seibu Holdings and US private equity house Cerberus are at each other’s throats. Cerberus claims that it can improve Seibu’s management; Seibu’s other stakeholders say Cerberus is a vulture fund intent on asset stripping.

Peter McGill, May 30, 2013

CAPITAL MARKETS

The day of the hybrids: Is the flowering corporate market as attractive as it seems?

Corporate hybrids are booming, thanks to surging appetite from investors in Asia and Europe – and potentially even the US. These deals offer a great pick-up over anaemic senior spreads. But are buyers turning a blind eye to the risks in their hunt for yield?

Louise Bowman, May 30, 2013

CAPITAL MARKETS

Disintermediation takes root in Turkey

The country’s rapidly growing SMEs urgently need funding avenues other than those provided by the country’s banks. Some new options are beginning to emerge to solve that conundrum.

Duncan Kerr, May 30, 2013

BANKING

Revealed: The truth about Barclays and the Abu Dhabi investment

Amanda Staveley earned an astonishing £30 million fee for her role in helping to secure Abu Dhabi’s £3.5 billion investment in Barclays in 2008, a deal on which Sheikh Mansour made a profit of more than £3 billion. Euromoney reveals the extraordinary tale behind that trade, the battle for £110 million in fees paid by Barclays to Mansour, and just how close-run a deal which saved the bank from part-nationalization was – which is currently the subject of an investigation by the Serious Fraud Office.

Eric Ellis, May 30, 2013

Fintech

Bitcoin: a threat to the transaction banking industry?

Transaction bankers should wake up to the competitive threat that is Bitcoin, which, in theory, offers a multitude of benefits for multinational companies. Nevertheless, an information deficit and regulatory concerns will continue to temper corporate adoption of the digital currency, analysts say.

Rebecca Brace, May 29, 2013

Opinion

Investment banking: Earnings raise dividend hopes

Halfway through the second quarter of 2013, global investment banking revenues had reached $25.7 billion, some 14% ahead of the average year-to-date total over the past 10 years. Debt capital markets revenue is running at a record level, having hit $9.2 billion between the start of 2013 and mid-May. Syndicated loan revenue is markedly up on the same period in 2012, as is global equity capital markets revenue for the banks as IPOs return. Only M&A remains quiet.

May 29, 2013

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