Search results for

Continuing problems are forcing firms to reconsider market timing, the balance between public and private funding and the importance of neglected sources such as retail and corporate deposits. Six specialists debate the issues.

Standard Chartered has promoted Todd McDonald to the new role of global head of FX electronic pricing and trading. McDonald, who was previously the bank’s FX trading head, Americas, will now be based in Singapore. As a result of his move, Keith Underwood, currently head of FX trading, UK and Europe, will relocate to New York.

"Our long-term view remains – we will eventually see 1.60 for cable and parity for EUR/GBP" -Paul Day, Mig Investments

India moved a step closer to liberalizing its foreign exchange market with the launch of rupee currency futures trading on the National Stock Exchange on August 29. Initial activity was brisk, with about 70,000 contracts changing hands in the first session. The NSE contracts are extremely small by international standards – they have a notional value of just $1,000 – and would appear to be very much aimed at attracting retail participation. Perhaps not surprisingly, early trading was dominated by banks and large corporations.

Senior bankers in China remain confident that the economy will continue to provide a favourable backdrop for the banking industry, despite a slowdown in growth. However, some concede that a more complex economic environment in China and abroad will bring greater challenges to the banking system, especially in risk management.

IPOs are scarce enough as it is in this gruesome global market. But the largest ever IPO from one of the world’s poorest countries, whose previous record deal was in 1994? That’s rarer still.

As the equity market continues to struggle in Brazil, the local debt market is growing in importance. The challenge is to find enough bankers to fill the demand.

The tables are starting to turn in the Brazilian banking market – for the first time foreign-owned banks have become acquisition targets for locals Itaú and Bradesco, valued at more than $60 billion each, which now dwarf the purchasing power of several of the international banks in the aftermath of the sub-prime crisis.

Hedge fund administrator Fulcrum, has merged with the hedge fund services arm of Butterfield Bank, an award-winning Bermudian bank.

Central and eastern Europe are a key division to UniCredit’s future success. Comprising 20 countries, with a regional market share of about 18%, historically the bank has grown its presence more through acquisition than organic growth.

With a huge pipeline of covered bond issuance planned for the next few months, much is being asked of investors. There might not be enough of them to go around.

As Euromoney asks for his views on fair-value accounting, the European bank chief executive carefully sets down his fork in the plate of scrambled eggs before him, slumps back in his chair and rolls his eyes. The press relations lady squirms uncomfortably and leans across the breakfast table, whispering: “This bit is going to be off the record.”