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Joint head of Global M&A at Commerzbank.

In 1998, Paribas had its best year in fixed income by a long distance and was the acknowledged king of the Ecu market, precursor to the soon-to-flourish euro debt market. Following the acquisition by BNP, however, many in Paribas' fixed-income division began to grow restless. Although Andrew Pisker, until recently BNP Paribas' deputy head of fixed income, says he "greatly enjoyed" his time at Paribas and "learnt a lot", it is reasonable to assume that he too began to feel less than settled.

Head of global technology banking, Merrill Lynch

The Cobra is Hansgeorg Hofmann, former Merrill and Lehman syndicate chief, former board member of Dresdner Bank, who disappeared from view in December 1997 after a debacle about his tax returns.

Still think that you've got time to get ready for the internet? Still sure that you've got a few quarters of easy revenues to make?

The high-tech stock market mania has come to a screeching halt. The US Nasdaq index is now down 20% from its highs. Does this herald the beginning of a huge secular meltdown in stocks around the world? I think not. On the contrary, it marks a healthy reallocation of capital away from companies of the "new" economy towards the "old". The major argument against this optimistic view is that the new cyber economy will destroy us all by creating competition so great that prices will collapse faster than costs. Then whole swathes of the traditional economy will be wiped out, as capital structures collapse.

Euromoney FX poll 2000: Deutsche topples Citi

Issuer: Barclays BankAmount: e850 millionType of issue: tier-one Reserve Capital InstrumentsLaunched: April 12Book runner: Barclays Capital

Once branded the internet dullard, Merrill Lynch is on the offensive. More than a decade after the brokerage firm bought a bank in Utah, it’s launching a nationwide retail banking operation, based on the internet, and paying money-market rates on insured deposits. That, and its plans for a banking and investment-services joint-venture with HSBC, may take its head off the merger block. Antony Currie reports

Most financial institutions see the internet as the future for distribution and trading of financial products, mostly for retail. But web-based products are being developed to provide a competitive advantage in far more complex businesses. The entire landscape of the wholesale financial services industry is set to change as a result.

Credit Suisse First Boston (CSFB)