August/September 2009 - Past Issues - emeafinance Magazine - emeafinance - Europe • Middle East • Africa - Three regions

emeafinance Magazine: August/September 2009

The party's over... now for the after-party

The good times seem to be here again, with many investment banks reporting record profits. But it is far from business as usual, with the competitive landscape rapidly changing, and the emerging market fee pot shrinking, reports Julian Evans.

EU, IMF support

Having been subsidised for over a decade by Russia, Ukraine’s economy is now being bolstered by the EU and IMF.

Kyrgyzstan plays the Great Game skilfully

President Kurmanbek Bakiyev, once the hero of the 2005 ‘Tulip Revolution’ in Kyrgyzstan, won a second term in the disputed presidential election of the central Asian country in July.

DFIs jostle with banks in South African infrastructure

The South African government’s US$100bn infrastructure investment programme is seen as crucial to help the economy pull out of its first recession in nearly two decades. But who will finance it? Shannon Manders reports.

Banks rush to sell AM and private banking arms

Banks are hoping to follow Barclays’ lead and raise capital through the disposal of asset and wealth management divisions. But who is buying?

Call Waiting

While M&A has been slow so far in the EMEA region, one area where it’s beginning to show signs of life is in the telecoms sector.

Selling well, not selling out

In an extract from his new book, Stephen Green, the chairman of HSBC, and an ordained priest of the Church of England, gives advice to young bankers and other seekers after truth on how to live and work in the global bazaar without losing one’s soul.

The Kremlin's investment bank

Having been officially launched just a year ago, state-owned VTB Capital says it is fast becoming the national champion of Russian investment banking, according to the bank’s international CEO, Herbert Moos. But could the woes of its parent hold it back?

Batman promises to clean up the streets

The newly-elected prime minister of Bulgaria, a former bodyguard nick-named ‘Batman’, has promised to fight crime in Bulgaria and get the country back on track to EU accession, writes Philip De Leon.

Sell CEE, Buy Middle East

Western law firms are scaling back their CEE businesses almost as quickly as they’re building up their Middle Eastern businesses.

Out of the shadows

The collapse of the shadow banking system has devastated the securitisation market. But there are signs the market is groping its way out of the shadows and towards new rules of the game, reports Julian Evans.

Funds search for alternative to equity

After several years of rapid growth, shariah-compliant asset management is facing the first serious test of its young life, as it struggles to diversify from equity and property into new areas, writes Eva-Luise Schwarz.

Asset management shows strength in crisis

The battering taken by the Nigerian Stock Exchange (NSE) has provided a pause for thought among Nigeria’s asset management community, but optimism prevails for the industry’s long-term future, writes Kevin Godier.

Banks stand strong against worst of recession

Amid a severe economic downturn, Turkish banks are posting excellent results. Eva-Luise Schwarz asks how they’re managing it.

Return of the transformers

The convertible bond market has enjoyed a remarkable transformation of its fortunes, and emerging market issuers are now looking to use hybrids to raise much-needed capital.

Steering towards deeper liquidity

The financial crisis has led many corporates to prioritise internal liquidity management in the face of more expensive and less readily available bank credit, writes Liz Salecka.

Bridging the gap

Cross-border investment activity is fuelling the need for securities services across the EMEA region to meet challenges posed by varied regulation and tax regimes as well as weaker market infrastructure. By Liz Salecka.

Converging cash and trade

The movement to bring together cash management and trade finance capabilities is gaining momentum. For banks it’s a means of improving client relationships. For corporates, it holds the promise of greater control over working capital. emeafinance brought together heads of trade finance and transaction banking from leading institutions to discuss how the cash and trade concept is being applied.