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The temptation of St David

It's not often you get a morality tale in the bond markets. But when an obscure line of postal bonds grabbed the attention of traders in London, the conflict of interest that haunts all investment banks came horribly alive. One man decided that his bank's relationship mattered more than short-term gain, and he gave his traders' profits back. Was this the action of a saint, or just good business sense? Steven Irvine reports.

January 01, 1997

The Russians are here - at last

Tight-lipped Russian officials eventually warmed to their task at roadshows worldwide. It was Russia's return to the international capital markets, its first sovereign issue since Tsarist days. For the bankers involved in the $1 billion deal it must often have seemed like trying to resurrect the mammoth. Peter Lee reports on a complicated birth

January 01, 1997

The sub-Libor struggles of Minati Misra

The IFC's Minati Misra is not prone to giving the dealers on her MTN programme an easy time. With a reputation as one of the market's most sophisticated borrowers, she is far from passive. Steven Irvine spent two days by her desk in Washington listening as she charmed and cajoled her intermediaries.

January 01, 1997

BANKING

Willy Dunn, Former managing director, Société Générale Strauss Turnbull

So it's goodbye to the name of Strauss Turnbull. The call to the knacker's yard from the uncompromising French bosses at Société Générale surprised no-one. Relationships between the two house had long been fraught. SocGen probably thought that Strauss Turnbull was a better firm than it proved to be. When the French found out that it had been sold a pup it was only a matter of time before the tumbrels were rolled out.

January 01, 1997

BANKING

Meet Europe's biggest investor: Diethart Breipoh, Allianz

Diethart Breipohl is a modest man. But as finance director of the Allianz insurance group he presides over Dm320 billion of investments, probably the biggest portfolio in Europe. That includes significant stakes in Germany's blue-chip firms, suggesting to some that Allianz is "the spider in the web" of corporate Germany.

January 01, 1997

Can Rothschild reinvent itself?

The House of Rothschild doesn't look as solid as it used to. In a world of supermarket banks, the days of the corner shop may be numbered even if it has the best name in the business. But Rothschild is fighting the trends with a major reorganization. Brian Caplen analyzes the plan and looks at the vexed issue of succession

January 01, 1997

Bonds

A special report prepared by WoodCommerz

December 01, 1996

Derivatives: Swinging around the world

The pace of development of new derivative products may have slowed since the heady days of the early 1990s, not least because users are more aware of what they are buying and what it ought to cost. But new instruments are still catching on and specific geographical markets are adapting to special local needs. Andy Webb reports

December 01, 1996

European IPOs: When it's time to leave home

Family businesses often fight shy of the exposure required by a stock exchange listing. Yet if family firms need fresh capital for growth or to meet the competition, a public offering needn't spell the end of family control. James Featherstone looks at the state of European private-company flotation and the investment strategies of 13 family-controlled businesses.

December 01, 1996

Why the Big Mango stayed on the tree

1996 was not a good year for Thailand. Economic problems piled up as thick as Bangkok's legendary traffic and the pundits forecast a Mexico-style accident. But the Big Mango, as Thailand's capital city is known, did not go splat thanks to skilful technocrats who steered the country to safety. It's early days but the worst could be over, reports Gill Baker

December 01, 1996

The 1997 Guide to Poland

December 01, 1996

Will investors enjoy the Concert?

By BRIAN CAPLEN

December 01, 1996

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