Latest articles from Capital Mkts

Iberian ABS market pulls in European investors

October 4, 2004

Asset-backed securities from the Iberian Peninsula have proved popular with European investors. A recent transaction, the first to be backed by auto leases and loans, and to combine a securitisation framework from Portugal and Spain, indicates that the market is still developing.

The value of innovation

September 2, 2004

Being first to market with a new product can benefit a bank in terms of reputation and margin. But is the cost of development really worth it? Natasha de Teran reports

Gas deal fuels Russian ABS

September 2, 2004

Gazprom secured a hit with Russia’s first investment-grade securitisation, and one that will help to drive the country’s asset-backed securities market. Geraldine Lambe talks to ABN AMRO about its part in the deal.

Citigroup rivals should stop bleating

September 2, 2004

In 2004, markets cannot operate on the basis of a gentleman’s agreement. That’s why – love it or hate it – Citigroup’s e11bn sale of eurozone sovereign paper that sent prices down, allowing the bank to buy back €4bn-worth at a lower price half an hour later, should not be the subject of an outcry from banks that lost money.

Emerging from the shadow of the dollar

September 2, 2004

Despite being dismissed by forex traders when it was launched five years ago, last year the euro became the dominant currency in bond issuance, says Edward Russell-Walling.

James Forese

September 2, 2004

Having been present during the turbulent times in the bond market in the mid-1980s, James Forese has since switched sides and is now a major force in the equities market at Citigroup, reports Sophie Roell.

Hedge funds – the next generation

August 2, 2004

It’s not often you come across the latest trick in hedge funds while standing in line for an Easyjet flight at London’s Stansted airport. But Gulamabbas Lakha, formerly a global strategist with Baring Asset Management, and now CEO and chief investment officer of Providentia Capital, is no ordinary hedge fund manager and meeting him by accident in these unglamourous circumstances seemed fitting in retrospect.

Why SG CIB does give a fig

August 2, 2004

Also more Anglo-Saxon than French is SG CIB’s decision to have a media blitz during the summer when all good bankers – and financial journalists – should be on the beach. For this reason our columns are full of SG CIB bankers this month (see Agenda interview with CEO Jean-Pierre Mustier, p28) but since they are very fine folk, we make no apologies for accepting their hospitality.

French take leaf out of Anglo-Saxon book

August 2, 2004

Investment banks are notorious for continuously restructuring.Hardly a month goes by without one of the major houses deciding to merge two departments, create a new division or reorganise in some other way. The aim is to serve the market more efficiently but the cost can be high in terms of restructuring fatigue and low morale.

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