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CAPITAL MARKETS

RZB looks to raise catch-up cash with IPO

Standing in his office in Raffeisen's headquarters in Vienna, RZB International's chairman Herbert Stepic points with pride to a large world map dotted with small RZB flags showing the bank's outlets around the globe, including branches in China, Singapore and New York, and recently-opened subsidiaries in Albania and Belarus. His office is more like that of a Cecil Rhodes-type imperial pioneer than a banker, filled as it is with African sculptures and Chinese tapestries.

Julian Evans, March 01, 2004

ANZ appoints global head of corporate finance

ANZ Investment Bank today announces the appointment of Malcolm Hiscock as global head of corporate finance. Malcolm is an M&A specialist with a strong track record of over 14 years' experience in high profile transactions for major listed companies both in Australia and internationally.

March 01, 2004

BANKING

Iberian banks poised for more M&A

Portuguese banks have come smoothly through the recent slump. But with fewer consolidation opportunities available at home, further growth seems dependent on ventures in neighbouring Spain. Spanish predators still circle. Jules Stewart reports.

Jules Stewart, March 01, 2004

CAPITAL MARKETS

Government shares sell-off boosts capital markets activity

India's bond and equity markets spurted into action last month as the government announced over $3 billion-worth of sales of shares in six companies. Indian companies and banks will also tap the market for another $2 billion, about half of which will be foreign currency debt. In addition, the Asian Development Bank closed a $110 million rupee bond, the first local currency bond by a multilateral bank.

Kala Rao, March 01, 2004

BANKING

Making 21i.net work

Through his creation, 21i.net, entrepreneur Fritz Kaiser is hoping to bring together the leading wealth management service providers in the world as a type of one-stop shop. His path towards a wealth management utopia, however, is not as smooth as had been foreseen. Helen Avery reports.

Helen Avery, March 01, 2004

CAPITAL MARKETS

Phylon overcomes false start

Hedge fund Phylon's launch was ill-timed, but its partners' application of emerging market experience to European equities has impressed investors. Julie Dalla-Costa reports.

Julie Dalla-Costa, March 01, 2004

Foreign Exchange

Scandals force new forex rules

Forex scandals are rare, considering the size of the business. But when they happen, they tend to be dramatic. Demands for tighter controls are growing. But even without a clear and unified regulatory framework, a fear of reputational and financial risk ensures that banks take the issue seriously. Deborah Kimbell reports.

Deborah Kimbell, March 01, 2004

Malaysians welcome anti-corruption drive

Cynics may regard the new prime minister of Malaysia's dramatic moves against corruption and overblown projects as little more than electioneering. But many in the financial community see the actions as a welcome and necessary change of tack for the country. Peter Koh reports.

Peter Koh, March 01, 2004

BANKING

That SLK acquisition

RediPlus didn't get much of a mention at the time of the acquisition of Spear Leeds Kellogg by Goldman Sachs. Most of the focus was either on the price, initially $6.5 billion, or on what seemed to be an about-face by the investment bank. SLK was best known as a specialist, the market maker on the floor of the New York Stock Exchange. Goldman had been a prolific investors in its nemesis, the electronic trading platforms, and seemed to regard the specialist model as unsustainable.

Antony Currie, March 01, 2004

Opinion

Gartmore muscles in on rugby fever

The rugby bandwagon continues to roll. Latest to declare their new love of the game are fund managers Gartmore. The recipient of Gartmore's contribution is that venerable rugby institution the Barbarians. The club, founded in 1890, is most widely lauded for its 1973 match against the New Zealand All Blacks in which Gareth Edwards scored arguably the greatest ever try.

Julian Marshall, March 01, 2004

BANKING

Paul Richardson

Head of sports, media and professional client groups, Coutts

Helen Avery, March 01, 2004

CAPITAL MARKETS

Time is running out for the Landesbanken

With just over a year left before they lose the state guarantees that they rely upon for cheap financing, several German Landesbanken still do not have a clear strategy. Investors have reacted by rewarding those that have communicated a strong business plan. Katie Martin reports.

Katie Martin, March 01, 2004

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