An investment banker associate of mine recently shared an interesting statistic. He said his business, a veteran establishment, currently spends around 80 percent of its time with buyers. This time is spent reassuring them that they’re getting a good deal when buying a company. Now that’s a sign of the times. Rewind two years, and…
For at least a quarter-century, the financial sector has grown far more rapidly than the economy as a whole, both in developed and in most developing countries. The ratio of total financial assets (stocks, bonds, and bank deposits) to GDP in the UK was about 100 percent in 1980, while by 2006 it had risen…
If banks provide the fuel for modern economies, then corporates are its engines. Without them, we would earn and consume nothing, trade would evaporate, savings would be wiped out, banks would fail and tax receipts would plunge. Care then is needed when drafting rules and protocols to ensure they do not drive corporates off the…
Banco Espírito Santo Angola is not only known for its financial performance, but also for its hard work in corporate citizenship. In economic sustainability, BESA was honoured by UNESCO and the International Committee for the Development of Planet Earth for promoting sustainability in Angola. It was crowned ‘BESA, the Bank for the Planet’, which means…
Caribbean As many attack so-called “tax havens”, Natalie Shaw speaks to Shawna Lake, whose firm SKIPA promote development in St Kitts & Nevis France Companies have been going wrong and being bailed out globally. Liam Vaughan suggests that France is offering less protection for creditors than, say, the UK or the US. Vaughan goes on…
China is worried about the long-term decline of the dollar, mainly because it holds somewhere north of $1,000bn in US government debt. As a Chinese economist notes in a masterly piece of understatement, “a trillion (in greenbacks) is a hot potato.” Several other Asian countries holding vast dollar amounts are worried for the very same…
“Banks in Trinidad and Tobago are blessed,” says Sekou Mark. It may be an intriguing statement, given the current global economic crisis to which some of the biggest banks have fallen victim. More intriguing perhaps is that the man making the statement is a banker himself. He is the General Manager of Corporate Banking at…
While the UK’s FSA’s rules on unbundling may not have radically reformed the trading landscape, they have subtly altered the terrain. Commission-sharing agreements have become the status quo and the remaining bulge-bracket sellside firms continue to capture the lion’s share of both execution and research business.A split between the two activities as envisioned in the…
Size, says Margrit Schmid, is not the only criterion for success. But it does help indicate just how well a company is doing in its chosen marketplace. “In terms of premium volume, we are the leading global employee benefits network,” she says. “While size is not everything, our size does reflect how many multinational companies…
When did your banker last recommend against an execution or transaction for which they are being remunerated?” This leading question awaits prospective clients browsing the website of Ondra Partners, one of a new breed of independent boutique offering “unbiased” advice to companies raising equity, debt or making acquisitions.Senior bankers at established underwriting banks get angry…
