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Any American above a certain age working in finance remembers The Bankers, Martin Mayer's 1975 bestseller. But since then Mayer has become something of a cause célèbre of all things bank-related. Then he became chairman of a New York school board.

Remember Cresvale, the one-time high-flier in Japanese convertible bonds and equity warrants? Cresvale was as much of a 1980s success story as Baring Securities. Both companies made huge profits on the back of the Tokyo stock market boom. Baring Securities survives thanks to Dutch courage and sympathy. Cresvale lies somewhere on the Euromarket Boot Hill in a shallow grave.

"Much may be made of a Scotchman if he be caught young." So Dr Johnson had it. In the case of the Hongkong and Shanghai Banking Corporation (HSBC), an institution founded by Scots and still governed by one, it has grown to be the world's most profitable financial group. The unique international officer culture that has driven it –­ young men caught young, trained up, messed together, posted, reposted, in the bank for life and rarely back in the UK ­ will have to change, but it's bending and adapting rather than breaking. Steven Irvine reports on its fitness for the 21st century.

"Cedel Bank to consider going public." That was the rumour during the second week of January. Wouldn't every important lead manager vie for this IPO mandate? However, the likelihood of Cedel Bank going public is about the same as that of Euroclear, operated by JP Morgan for almost 30 years?

Robert Kuok's conglomerate empire was built on political astuteness, an Asia-wide network of contacts and a willingness to take risks. Its 73-year-old presiding genius is inclined to keep a low profile and operate as if he was still heading a private company. Funding needs and a reshaping of the business with succession in mind have, however, forced greater dependence on public equity. Jonathan Kandell reports.

Headhunters had a busy time in 1996. Most noticeable were the recruitment sprees at UBS and Deutsche Morgan Grenfell. Other banks such as BZW and Chase were also restructuring - and a number of well-known people passed through the revolving doors for a variety of reasons at firms such as Lehman Brothers and Merrill Lynch. By Philip Eade

The key figure in China's financial reform process is Zhu Rongji, vice-premier in charge of the economy and a 68-year-old often described in western media as China's economic tsar. Though keeping a somewhat lower profile over the past year, his role as overseer of the financial reforms thus far implemented has been crucial.

Meet Europe's biggest investor: Diethart Breipoh, Allianz

Meet Europe's biggest investor: Diethart Breipoh, Allianz

Emerging market strategists looking at making a New Year foray into Chilean stocks would be best advised to adopt a strategy of "Buy into heavy rain" and "Sell on prolonged sunshine". In a new twist on the term "market barometer", the Chilean market is being dragged down by the weather, as the country endures one of its worst droughts this century.

How did Crédit Local de France and Crédit Communal de Belgique come to chose the name Dexia from over 100 suggestions, for their newly-merged banking group? "The name has been imagined by Bessis, which specializes in name conceptions," explains a spokesman at Crédit Communal de Belgique/ Dexia.