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Leveraged buy-outs

Growing investor interest in foreign exchange as an asset class is leading to a rapid expansion of volume and has prompted service providers to offer new products featuring greater speed, transparency and efficiency.

For children with backgrounds of poverty, neglect and abuse, the City can seem an incomprehensible and daunting place. Commerzbank's head of treasuries, Can Biritrim, however, is keen to show them it can be a source of support. Working with the charity Kids Company, which supports London children who have severe behavioural, emotional and social difficulties as a result of childhood trauma or neglect, Biritrim, together with head of prop trading Tim Fisher, invited three of the children the charity works with to the London office for the day.

www.breakingviews.com

Latin American domestic structured issuance has caught up with the more established cross-border market, thanks in large part to the work of the International Finance Corporation and structured products expert Lee Meddin. But this is just the start of Meddin's plans for the emerging markets, with Latin America likely to take a pioneering role again.

By Camilla Palladino

Citigroup wins this year's Euromoney international cash management poll with big-money votes – within the highest ever 1,154 respondents to this year's poll, 60% of corporations with annual gross sales figures of more than $25 billion use the bank. And when it comes to the really big clients – those with more than $100 billion in annual sales – that jumps to 90% of respondents who use Citigroup. The only scoring boost in the poll bigger than the one Citigroup gets from those big clients is the one HSBC gets from its small ones. It is a leading ICM provider for an astonishing 61% of clients with sales figures of less than $1 billion. That number accounts for HSBC's run to near the top of the poll this year. If HSBC manages to keep up its small-client dominance and grab just a few of the big accounts in 2005, next year's poll might even see it overtake Citigroup to leave all the other banks behind.

Lead banks sit pretty atop volatile market | Capital raising results tables

By Camilla Palladino

While many focused their attention on JPMorgan Chase's acquisition of the hedge fund Highbridge, another nimble operator was busily getting ready for its initial public offering. On September 30 Primus Guaranty raised $139.7 million.