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BANKING

Central banks: Switzerland ups the ante

Radical shift in Swiss National Bank’s monetary policy sparked talk that other central banks would join it in competitive devaluation race.

Lee Oliver, April 01, 2009

Behavioural finance: Alpha emotion

Michael Ervolini, chief executive of Cabot Research, a behavioural finance adviser to investors, says that an increasing number of investment managers are beginning to analyse their buying and selling behaviour to increase returns. According to Ervolini, most managers could capture more than 100 basis points more in alpha by better understanding their behavioural tendencies.

Helen Avery, April 01, 2009

BANKING

FX market round up: Allington seeks greener pastures

Chris Allington has resigned as co-head of G10 currency trading at the combined Bank of America/Merrill Lynch. Allington, who was confirmed in the role alongside Chris Vogel in early January, is believed to be headed for Goldman Sachs, which as ever, has declined to comment.

Lee Oliver, April 01, 2009

BANKING

FX market round up: New boss for HSBC

Frederic Boillereau has assumed the responsibilities of Andrew Brown, who had been global head of FX at HSBC. Brown’s departure follows three record years for the bank’s FX business and is for personal reasons. Under Boillereau, who has been at HSBC since 1998, HSBC has finally got around to integrating its FX spot, forward and options businesses. Boillereau also remains in charge of HSBC’s metals activities.

Lee Oliver, April 01, 2009

BANKING

Convertible issuance: Nomura makes or breaks with bond deal

Nomura’s handling of SK Telecom’s $300 million five-year convertible bond has left the market asking if it was the bold stroke that will establish the firm as a big player in Asia’s equity-linked market or an over-aggressive piece of business that could harm the market and the bank alike.

Lawrence White, April 01, 2009

Opinion

Latin American DPRs: MT promises

Diversified payment rights issuance offers an alternative to dollar funding.

April 01, 2009

BANKING

Zhu Min, Bank of China: What China’s banks have learned from the crisis

In an exclusive interview with Euromoney Zhu Min, group executive vice president at Bank of China, talks about lessons learned from the financial crisis, the limitations of Basle II, and reforming the bank’s risk management.

Lawrence White, April 01, 2009

Foreign Exchange

SDR vs the Dollar: China and Russia want SDRs

New global currency looks remote prospect

Lee Oliver, April 01, 2009

BANKING

“I don’t think you’re at the top of the list of requests for interviews”

- A US Treasury official, at the IDB meeting in Medellin, brandishing a copy of our March cover story disappoints a Euromoney journalist who had asked for an interview with Tim Geithner

March 31, 2009

BANKING

Banks raise earnings expectations

Last month executives of the world’s largest banks, alarmed at collapsing share prices, told everyone what a profitable start to 2009 they had enjoyed. By the end of the month, shares were rallying. Let’s hope that actual first-quarter 2009 earnings announcements don’t pour cold water on their hopes. Peter Lee reports.

Peter Lee, March 31, 2009

BANKING

New global currency looks remote prospect

But reserve currency diversification could be one upshot of the current crisis.

Sudip Roy, March 31, 2009

BANKING

GGP Reportedly Rushes Payday

Retail real estate investment trust General Growth Properties opted last week to pay its employees ahead of schedule, according to a well-placed banker, stirring up speculation that GGP may be acting in anticipation of a bankruptcy filing. The news combined with today’s announcement of GGP’s failed bondholder consent solicitation is sending a clear signal that a bankruptcy is possible, added a trader.

March 30, 2009

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