Search results for

Chief economist of Raiffeisenbank, Prague

David Komansky doesn’t step down as Merrill Lynch’s CEO until 2004 but he has recognized that his most important remaining task is to engineer a smooth succession. With the sector seemingly moving into a deep downturn this is all the more important. Antony Currie reports on the emergence of Stan O’Neal as Komansky’s anointed successor

Vice-chairman, Jefferies & Company

The arrival of John Mack as CEO of CSFB was preceded by an execution that would have done "the Knife" himself proud. Credit Suisse Group chief executive Lukas Mühlemann hired Mack before he despatched Allen Wheat and after telling his old CEO his job was safe. But with CSFB mired in regulatory problems, struggling to digest ill-advised acquisitions and riven with in-fighting generated by Wheat's distinctive approach to growing the business, he had little choice. Mack has a formidable reputation, but can he dismantle CSFB's byzantine cliques and create a single culture?

As the going gets tough for Europe’s online brokers, a new leader has emerged from Italy. Fineco’s success in attracting new business suggests that players in the European asset-gathering market must be wary of wedding themselves too strictly to a single business model. Fineco combines online broking with direct banking, branches and a network of financial planners. So far, it’s working well, but it takes two co-chief executives to run it.

Best bank:

Citigroup continues to set the pace in Asia, taking the best bank award for the second year running. Domestic banks continue to struggle. Chris Cockerill

Africa remains high-risk, though profits are attainable. Citibank's presence and product depth gain it the best bank award, though HSBC also deserves praise. Simon Brady

Euromoney asked Wafic Rida Said, businessman and chairman of the First Saudi Investment Corporation, to offer some thoughts on the opening up of Syria.

Although relatively underdeveloped, tourism is already Syria's second-biggest foreign exchange earner. With infrastructural and personnel development it could be even more lucrative.

The US primary convertible bond market has grown rapidly this year, providing low-cost funding to highly rated corporates at a time when other sources of capital are running dry. The market's proponents claim convertibles have matured into a mainstream financing instrument. But the high degree of structuring suggests that many deals this year have been pure volatility plays sold to a new breed of hedge fund investors that might withdraw as quickly as they appeared.

The world’s most improved debt house