Search results for

European cartel watchdogs swooped on seven Austrian banks in June believing there was evidence of a price-fixing ring. Not so, say Austrian bankers, just an informal luncheon club. What's the truth? And what triggered the interest from Brussels? It's a story of Euro-politics, cut-throat competition, a little history and a tragic suicide. David Shirreff reports.

Can the local banks hold on?

Mexican corporates are raring to go but the borrowing outlook is grim. International markets are expensive, the local banking sector weak. The big names can raise funds but may be hit because their customers are cash-strapped. By Matthew Doman.

In an uncertain world, one thing is clear. Persistent rumours that a displeased or desperate Japan will cause financial mayhem by suddenly offloading its US government bond holdings is nonsense. This possibility is so universally reject by informed market participants that it's hard to see how it ever gained any credibility.

Trevor Manuel, South Africa's finance minister, has surprised many critics. This former anti-apartheid activist has opened trade barriers, removed exchange controls and supported privatization. But with money tight and all emerging markets under growing pressure, the targets in his Gear plan for market reforms with more equitable wealth distribution are under pressure. Sam Swiss talks to Manuel about Gear, interest rates and the cost of underpants.

From the Silk Road, to Basingstoke, to Buenos Aires, the HSBC Group has grown into one of the most formidable names in international banking. Its recent spurt of acquisitions - which have made it the most profitable bank in the world three years running - were masterminded by the workaholic Scotsman William Purves, who gave up the role of chairman this year. His long-time deputy, John Bond, is today the taipan of a bancassurance group that grew out of the old HongkongBank founded in 1865 in a diversification strategy that is looking wiser by the day.

The situation in Russia changes day by day. By the time you read this the country could have a new government, an impeached president and no functioning financial infrastructure. Euromoney's Brian Caplen visited Moscow in mid-September. He found chaos, paranoia and a banking system bleeding to death - fast. He also found a handful of institutions that should survive.

The appointment of David Robins and Malcolm Le May as respectively chief executive and head of global corporate finance at ING Barings reunites the two former UBS management partners whose high profile should go some way to reassuring insiders and clients about their new employer's commitment to investment banking.

Different ways to skin a cat

Different ways to skin a cat

What's behind Lehman Brothers' decision to form an executive committee? The news this August that the heads of the major businesses would join chief executive Richard Fuld in a six-member committee came four years after Lehman split from its marriage with American Express Bank. Ostensibly, the team is being set up to formulate strategy.

Foreign banks are trying to sell investment-banking services in Croatia but so far with limited success. Delays in state sell-offs and corporate restructuring aren't helping. By Charles Olivier.