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It has been more than seven months since Bank of America bought FleetBoston, and almost six since JPMorgan Chase and Bank One announced their deal. But still Citigroup hasn?t pounced, confounding those who were sure that the world?s largest bank would feel compelled to join the rush to build a national retail franchise in its home market.

Global

Barclays’ announcement last month that it had agreed to outsource cash management services for its larger UK corporate clients to Deutsche Bank is remarkable. Maintaining account services, domestic and international payments and collections, liquidity management and electronic banking are bread-and-butter banking activities. The provision of such unglamorous but vital services is an essential part of the cement that binds corporate customers to their relationship banks. So it can’t have been easy for Barclays to admit that its customers would be better off using Deutsche’s products and services than its own.

Sandra Manzke is something of a legend in the hedge fund industry. The founder of Tremont Capital Management, she was an influential figure from the outset, with the knack of spotting talented managers such as Peter Lynch, founder of the Magellan fund, before they became famous.

Euromoney celebrates its thirty-fifth birthday this month. We look back on the capital markets of 1969 and forward, through the eyes of pioneers of that era and those born in that year, at today's markets and looming challenges.

Performance you can be sure of

General Electric has sold 30 percent of life and mortgage insurer Genworth Financial for $3.53 billion in the biggest IPO since the July 2002 IPO of CIT Group, which raised $4.89 billion.

Dresdner Kleinwort Wasserstein today launched and priced credit spread warrants based on ?400 million of Casino to-be-issued bonds.The warrants give investors the option to purchase Casino bonds in the future on terms determined today. It is the first time that credit options have been sold to corporate bond investors.

New York attorney general Eliot Spitzer says he is after another fat cat - he has filed a civil lawsuit against former New York Stock Exchange CEO Richard Grasso for misleading NYSE directors over his "excessive" pay package.

Corporate executives are much more confident in their financial forecasting and reporting output than they were a year ago - but it's at a price. A new study by The Hackett Group finds that 67 percent of executives are confident in the accuracy of their financials, up from just nine percent last year.

Following Trema's acquisition of Alterna, the US technology group, the European-based software provider has launched the updated version of its cash and treasury management product by combining Alterna's cash management product with Trema's treasury and asset management offering.