Ongoing economic and regulatory uncertainty is playing to the advantage of established international financial centres, particularly London, which, despite the recent Libor scandal, has been named the most attractive financial centre in The Banker’s 2012 global asset management survey.
With Europe and North America paralysed by sovereign debt crises, the majority of respondents to The Banker magazine’s global asset management survey are focused on Asia, with more than 50% expecting to increase investment in the region. Investment funds are expanding their operations in centres such as Hong Kong and Singapore, as the eastwards transfer of economic power gathers pace.
Despite continued economic uncertainty in developed markets, emerging-market financial centres are growing in strength, with expanding foreign exchange markets and inward portfolio investment. However, when it comes to asset management, it could take generations for even the largest ascendant financial centres to catch up with their more established rivals. Writer Charles Piggott
Danièle Nouy, secretary-general of the Banque de France's Banking CommissionDistinguishing between banks' funds and shareholders' equity has become increasingly difficult as the rise of hybrid capital instruments has introduced grey areas to the financial sector. Writer Charles Piggott
While times are hard for many in the financial sector, one investor’s loss is another’s gain. The Banker speaks to five veteran investors, who advise that, as long as caution is applied, there has never been a better time to buy stocks. Writer Charles Piggott.