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BANKING

Hybrids and marsupials

It looks like third time lucky

May 01, 1997

BANKING

William Watt, Executive vice-president, PaineWebber International

What's the story with William Watt, the head of niche bond specialist PaineWebber International who is still considered by some to have been "the best floating-rate note trader in the history of the market"? On April 18 there was a terse newsflash saying that Michael O'Hanlon, chief economist and head of research at the firm, was being made head of all fixed income.

May 01, 1997

Benchmarking

FX Poll 1997: Taken aback by a leap forward

The foreign exchange business is entering a period of rapid change. The lack of volatility in the market over the past 12 months has forced the big commercial banks, which have long dominated the business, to close offices and cut staff. In their place, our annual poll reveals, investment banks are winning a larger share of the business. The biggest surprise: Merrill Lynch, which jumps into the top 10 at number three. Antony Currie explains why.

May 01, 1997

BANKING

Crown prince of the jungle

Wall Street is competing with an 800-pound gorilla. That's the label attached to Chase as it wrestles investment banking mandates from traditional players. Even by US standards Chase is noted for being aggressive. And its great strength is the lending capability that helps it win both bond and M&A deals. Will it eventually be king? By Michelle Celarier.

May 01, 1997

BANKING

1997 Bond Trading Poll: Best of All Eurobonds

1997 Bond Trading Poll: The rise of the continentals

May 01, 1997

BANKING

1997 Bond Trading Poll: Best of All Government Bonds

1997 Bond Trading Poll: The rise of the continentals

May 01, 1997

Opinion

Rogue trader at Bankers

Yet another trading scandal came very close to rocking a major financial institution in the City of London recently. This time it was Bankers Trust which had a nasty shock when it discovered that blatant rogue trading was going on in its midst. The perpetrators this time were children from a London secondary school attending a Bankers Trust maths weekend at the University of Warwick.

May 01, 1997

BANKING

Caught in the web

Are banks facing a rough ride on the information superhighway?

May 01, 1997

Hofmann the go-between

Dresdner Bank's roving diplomat Hansgeorg Hofmann struggled for 18 months to keep Kleinwort Benson intact after its takeover by Dresdner. But rival board members in Frankfurt were forcing a tortuous management structure on fledgling investment bank Dresdner Kleinwort Benson. That led Kleinwort's long-standing chairman Simon Robertson to quit in February. Now the gloves are off, and Dresdner's board, including Hofmann, have turned authoritarian. Expect some bloodshed. By Laura Covill.

May 01, 1997

BANKING

1997 Bond Trading Poll: The rise of the continentals

Euromoney's 1997 bond trading poll is dominated by SBC Warburg, ABN Amro, Deutsche Morgan Grenfell and US giants Merrill Lynch, Morgan Stanley and JP Morgan. In almost all categories the continental players are on the rise. Commentary by Rebecca Dobson.

May 01, 1997

Investigation: Citi and the Mexican millions

For a year the US Justice Department has been investigating whether or not Citibank violated federal money-laundering statutes through its private banking relationship with Raul Salinas de Gortari. Now the big question is looming: will Citibank, the banking unit of Citicorp, be indicted or, at the very least, end up paying a big fine?

May 01, 1997

It looks like third time lucky

When Australia's corporate bond market looked like taking off twice before, it soon fell flat on its face. Things are different this time, bankers argue. Government borrowing is being cut back and pension funds have increasing amounts to invest. So spreads are narrowing and smaller corporates at least are taking the hint. The blue chips still need some persuading. Albert Smith reports.

May 01, 1997

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