While tighter security is essential in preventing terrorism so, too, is addressing its root causes. This includes tackling disaffection with globalisation, which must be seen to benefit the wider community.

DEPFA has gone from strength to strength since it split from the Aareal mortgage bank and moved to Dublin. Jan Wagner reports from Frankfurt and Dublin on the most profitable bank active in Germany today.
Germany’s mortgage banks have been partying recently. In May, Eurohypo held a bash to celebrate the 10th anniversary of the “Jumbo Pfandbrief”. Since its introduction, the high-volume Jumbo has spawned a €600bn European market.
As the market leader, Eurohypo and its peers whooped it up. Attractions included plenty of champagne and an elephant installed in front of the Frankfurt stock exchange. Another Pfandbrief conference, replete with champagne, was hosted in June.

It will take more than the Italian bank’s takeover of the less than attractive German institution to prompt a torrent of consolidation.

UniCredit, Italy’s biggest bank by market capitalisation, last month announced a €15bn deal to merge with Germany’s HypoVereinsbank.
The news will be welcomed by the Italian president, Carlo Azeglio Ciampi, who has a background in banking and is an unapologetic enthusiast for European integration.

To make the radical change from selling products to services, Jose Valino, CIO at Spanish savings bank Caixa Galicia, uses consultants wisely and co-operates with other banks on technology development. He tells Dan Barnes about bridging the gap between the business and IT departments and helping customers to understand the new systems.

The UK’s Financial Services Authority has set the template for regulation around the world but it has recently come in for criticism from politicians and market players for overdoing the red tape. How justified are the claims? asks Nick Kochan.

Having rewritten Lloyds TSB’s poor growth story, CEO Eric Daniels now wants to strengthen the bank’s franchise, he tells Karina Robinson.

This year is the 10th anniversary of the jumbo pfandbrief. Famous for its security, its past is more chequered than you would imagine. Edward Russell-Walling talks to Dresdner Kleinwort Wasserstein, which has been a top three player since the market started.

Greek hesitancy to invest in Turkey’s financial sector is set to change, according to senior Greek and Turkish bankers who attended an inaugural joint meeting in Athens in May under the umbrella of the Washington-based Institute of International Finance, the global association of financial institutions.

Italy’s stock market watchdog has crashed the Bank of Italy’s bid to block ABN AMRO’s takeover of Banca Antonveneta, reports David Lane.