980 Results from /wholesale
Elton Cane Digital product delivery at News Corp Australia
Earlier this week The Guardian had an interesting piece on the bonus culture at investment banks. The Financial Services Authority has written to the chief executives of major firms to urge them to review pay policies to ensure they take account of the risks being run by traders. And UBS is already moving in this direction by devising a system th...
12 December 2008 /regulation /wholesale Innovation in Financial Services
Paul Penrose Head of Research at Finextra
A variation on this stat has been doing the rounds for a few weeks now, so forgive me if you've seen it before. I picked this up from the aptly-named Doomsday Report blog. In October last year, RBS paid $100 billion for ABN Amro (80% cash), and faced a fair amount of shareholder opposition to the valuation. If they were to use that money today, ac...
10 December 2008 /retail /wholesale Finextra50 fintech index
Olivier Berthier CEO at Moneythor
... as a saviour or a culprit? For years, trade finance has quietly gone about its own business providing the essential oil that keeps the cogs of commerce turning. It was never a dinner party topic and few people outside the industry had even considered it, until excessive lending and the ensuing credit crunch has thrust trade finance into the li...
10 December 2008 /payments /wholesale Financial Supply Chain
Merrill Lynch CEO John Thain has a reputation as the smartest guy on Wall Street. But his request to the bank's board for a $5-$10 million bonus for rescuing Merrill Lynch from a fate worse than Lehman was not only crass and insensitive, it was also just plain dumb. Does Thain - a multi-millionaire from his days at Goldman Sachs - really need the...
09 December 2008 /wholesale
The Finextra news desk is groaning under the weight of Christmas-themed press releases, as companies desperately try to generate some extra seasonal income during the economic crisis. One of the more bizarre examples to hit the newswires this week was an urgent dispatch from the American Peanut Council, which advises cash-strapped consumers to beat...
02 December 2008 /retail /wholesale Whatever...
John Cant Managing Director at MPI Europe Ltd
The demise and subsequent break up of Lehman Brothers will provide strong case study material for many MBA courses, for many years. There are several lessons to be learnt beyond the crucial role of customer confidence in business success. For example, there are the difficulties involved in splitting or decoupling the heavily centralised Lehman IT ...
30 November 2008 /regulation /wholesale MiFID
At least that's the view of Knowledge Technology Solutions (KTS) CEO Andrew Miller. KTS is soon to adopt the brand of its Sep. '07 acquisition, Arcontech, after closing its original market terminal subscription business. In the company's interim earnings statement today, he says: "The implementation date for the much discussed Markets in F...
28 November 2008 /wholesale MiFID
Retired Member
“It’s not easy being green.” When this tune started floating around my head for this post, I thought Kermit the Frog had first sung these words about twenty years ago. Imagine my surprise when I checked Wikipedia and found out the song is really almost forty years old. And what was once a frog’s simple lament about growing comfortable in his own...
24 November 2008 /wholesale
Will state involvement in bank ownership stifle innovation at those groups that have taken bail-out money? As banks step back from serving the low end of the economy, which is perceived as too risky, will governments have to step in and offer basic financial products to this sector of the economy? I had an interesting discussion over breakfast at...
19 November 2008 /retail /wholesale Innovation in Financial Services
Lehman Brothers ran its operations through a worldwide network of 26,666 servers and employed an IT department comprising some 6000 staff. This technological legacy has created some interesting operational challenges for the administrators charged with overseeing its affairs, as this SEC filing from restructuring experts Alvarez & Marsal makes...
19 November 2008 /wholesale
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