Moody's says defaults will peak this year, but distressed debt investors say the default trend has only just begun. Writer Suzanne Miller

BNP Paribas' acquisition of Fortis has considerably increased the size of the bank's Corporate & Investment Banking arm's balance sheet. The French bank says now is the time to use it to win advisory business.

As one of the Philippines' most dynamic bankers, Nestor Tan has overseen a series of acquisitions and mergers that have transformed Banco de Oro into the largest bank in the country by assets. Now he is eager for further growth by capitalising on opportunities presented by the recession. Writer Michelle Price

Emmanuel Naim, Equity manager for the cross-asset solutions group, Société Générale Corporate & Investment Banking

Emmanuel Naim, equity manager for the cross-asset solutions group at Société Générale Corporate & Investment Banking, explains how the equity derivatives business has overcome the challenges posed by the Lehman bankruptcy to continue offering investors ways to participate in the equity market. Writer Philip Alexander

In demand: Gazprom's headquarters in Moscow

Gazprom, one of the world's largest energy companies, has responded to its downgraded ratings with an ambitious issue of commercial paper in western Europe. The surprising outcome may have implications for years to come. Writer Edward Russell-Walling

Charlotte Conlan, head of leveraged finance at BNP Paribas

The secretive nature and narrow investor base of the European leveraged loan market meant it was hit harder and is taking longer to recover from the downturn than its counterpart in the US. There is a general consensus that Europe needs to open up its markets, improve transparency and introduce public ratings. Writer Charlie Corbett

The CEO of Société Générale's Corporate & Investment Banking has revamped the management and organisational structure of the bank to break down silos between business lines and build out its advisory business.