As part of its drive to make the country more attractive to international investors and strengthen its economy, Turkey has kick-started a series of capital markets reforms by bringing its three exchanges under one roof, thus establishing the Borsa Istanbul.

UBS undertook one of the more radical post-crisis changes of strategy in 2012, and its head of European advisory, James Hartop, explains how the new structure enables his team to move beyond pure merger and acquisition work.

Growing risk appetite and low interest rates have ushered in a revival of the market for corporate hybrid bonds in Europe since the start of 2013, with Citi's new products team participating in many of the recent issues.

UK utilities operator National Grid made a highly successful debut in the hybrid market to finance large investment needs without jeopardising its credit ratings.

Acting quickly was vital for Deutsche Bank to enable its private equity client to lower its holdings in a leading electrical supplier without unleashing sustained pressure on the share price.

At the beginning of 2013, Greek telecoms group OTE launched a €700m bond issue. The largest corporate debt transaction from a Greek borrower since the sovereign debt crisis erupted in 2010, the deal’s success offered stark proof of changing sentiment towards peripheral Europe.

JPMorgan has sought to maintain hard-won expertise even during the near closure of European equity capital markets in late 2011 and early 2012. Its regional co-head of equity capital markets explains how continuity has set it up well to capture a nascent revival of new issues.

The European Central Bank has helped assuage fears of an imminent eurozone breakup, but sovereign, supranational and agency debt management officials must still contend with ratings downgrades and difficult political and fiscal situations in a number of countries. The Banker hears from a range of EU issuers both inside and outside the eurozone.