BNY Mellon Wealth Management, based in New York, oversees more than $191 billion in client assets and chief investment officer Leo Grohowski discusses the best options for managing market volatility.
Capital Markets | Regulation
“Nothing will make us deviate or change our course. We are not exiting our operations in any of our African markets,” declared Maria Ramos, CEO of Barclays Africa.
Special Report: Fintech
As banks rush to find areas where the blockchain can save them time and money while creating opportunities, it’s hard to see exactly how this might shape future banking processes.
Nordea Markets Investment Banking is an integrated part of wholesale banking in the Nordea Group. A move from different legacy systems to one single platform is part of Nordea’s simplification program. Svante Andreen, Nordea co-head of markets investment banking, expects the move to foster agility, enabling Nordea to become a truly digital bank.
Newsmakers | United States
Edward Breen earned his reputation breaking up Tyco, so it’s no surprise that he’s hit the ground running since taking over at DuPont last October as interim CEO, a position made permanent a month later.
The Middle East is characterized by high youth unemployment and political and economic uncertainty, but new business and technology start-ups and young entrepreneurs are providing hope for future generations.
Capital Markets | Privatization
Russian president Vladimir Putin is pinning his hopes on privatization to help ease Russia’s 2016 budget deficit, which, according to some estimates, could reach $38 billion, or 6% of GDP.
Cheng Jun, general manager, global trade services, Bank of China, says One Belt, One Road will expand China’s role in international finance.
Cuba: News that Anglo-Dutch consumer products company Unilever will return to Cuba to build a $35 million plant in the special development zone at the port of Mariel, about 40 kilometers west of Havana, is one of the clearest signs yet that the communist nation is taking a more pragmatic approach to foreign direct investment.
Michael McDonough, global head of corporate trade and supply chain finance at JP Morgan Chase, sees the supplier finance market evolving to embrace more diverse industry sectors, and banks expanding the range of funding to clients.
Japan’s Financial Services Agency is preparing legislation allowing the government to relax restrictions on fintech investment, promising a technological jolt to one of the world’s biggest financial markets.
Carina Gyllenbring, head of trade & export finance at Swedbank, says the Baltics have proved remarkably resilient in dealing with the trade shocks of their neighbors and trading partners.
Philip Panaino, regional head, transaction banking, Africa & Middle East, Standard Chartered, says awareness of supply chain finance needs to expand from corporate treasurers to their broader organizations.
David Newns, global head of State Street’s Currenex, says the diversity and liquidity provided by ECN (electronic communications networks) trading are keenly important to banks.
FinTech | Trends
The launch of the blockchain-enabled asset trading platform Nasdaq Linq, Goldman Sachs’ filing of a patent for a securities settlement system based on a new virtual currency called SETLcoin, and the continued rise of blockchain banking consortium R3 all point to a race by financial institutions to harness the power of the blockchain.
The World’s Best Digital Bank Awards was preceded this year by the inaugural Global Finance Digital Bank Conference, held in London. Three panels of digital banking experts shared their experiences of competing against nontraditional providers in the financial technology space.
Q+A with Juraj Bojkovský, Director Of Electronic Distribution Channels At Tatra banka
Q+A with Asit Oberoi, Senior President And Chief Operating Officer, YES Bank
Trends | Fintech
China’s Big Three Internet and e-commerce companies—Baidu, Alibaba and Tencent—are so big they are referred to collectively as BAT, and all three have received banking licenses and scaled up their e-commerce and finance platforms.
As digital banking transformation becomes a key competitive tool, Global Finance recognizes those banks making the most-effective and most-innovative changes.
There are many ways to measure the world’s largest companies and there are countless rankings, which do just that. We have chosen three of the most respected and renowned rankings to give a fuller picture - the Global Fortune 500, Forbes Global 2000 and the FT 500. All rankings are for 2014.
Market Trends | FinTech
News that 13 additional banks have joined financial innovation firm R3’s distributed ledger initiative signifies the savings the banking sector believes blockchain technologies can deliver to the financial services sector.
Innovation is bringing transparency and diversity to the FX market.
Global Finance presents a ranking of countries based on the ease of starting and running a business.
Emerging markets overtook developed markets both in terms of sales and purchases of foreign acquisitions - accounting for 56% of total cross-border transactions in 2013.
As Africa improves transport and telecommunications links, it’s creating countless opportunities for foreign direct investment.
Winterkorn is forced to resign after it was revealed the company was guilty of manipulating diesel emission tests.
A culmination of macro, competitive and regulatory pressures spurred M&A activity in the Technology, Media and Telecommunications (TMT) sector.
The term Mergers and Acquisitions (M&A) refers to the buying, selling, dividing and combining of different companies and similar entities by corporations, with the goal of growing more rapidly and efficiently.
Banks are rolling out digital products at a dizzying pace—and in the process, reinventing the industry.
Capital Markets | Mergers & Acquisitions
German auto manufacturers Audi, BMW and Daimler have acquired the Finnish company Nokia’s high-precision digital mapping service Here for €2.8 billion ($3.1 billion).
Global Finance explores the tech future of Payments and branding with Deniz Devrim Cengiz, head of digital banking at Türk Ekonomi Bancasi (TEB), (BNP Paribas Turkey)
The appointment of former Goldman Sachs executive Michael Evans as president of Alibaba is the latest move in the Chinese conglomerate’s attempts to expand its business beyond its domestic base.
Mayank Mishra, Citi’s managing director and global head of online banking and connectivity services, describes balancing global digital solutions with the specific needs of corporate clients.
SIBOS Supersection 2015 | Fintech – Innovation Centers
In today’s virtual world, fintech development can take place anywhere. With funding for start-ups split 50:50 between traditional financial centers and elsewhere, the race is on to attract the hottest young firms.
SIBOS Supersection 2015 | Fintech–Blockchain Technology
Freed from bitcoin, could the blockchain, or blockchain lite, become the underlying infrastructure behind better banking?
Milestones | Zimbabwe
The demonetization of the Zimbabwean dollar began in June and holders of the near worthless currency have until September 30 to exchange it for US dollars.
Scotland still brings in more foreign direct investment than many larger countries. Last year it again headed the list of top UK destinations outside London.
Special Report | Bitcoin
Cryptocurrencies like Bitcoin that exchange digital information are a disruptive area for banks. The industry at first dismissed such currencies, but is now looking at how Bitcoin could change their business.
Special Report | Fintech
By putting customers first, fintechs are using technology to provide more responsive and cost-effective financial solutions for clients.
China | Chinese ecommerce company Alibaba’s new CEO, Daniel Zhang, is a star, credited with the success of Tmall.com and the November 11 Singles Day—an online buying bonanza that has overtaken Black Friday as the most lucrative online shopping day of the year.
Cryptocurrencies, unlike fiat money, are, by definition, more a commodity than a pure currency, giving them compelling appeal for Islamic finance—because renting a commodity is in line with the principles of shariah, unlike lending based on interest.
Milestones | France
The French government temporarily increased its stake in French carmaker Renault to nearly 20% ahead of the company’s annual general meeting in April.
FDI Update | FDI Magnet
Countries that dismantled protec-tionist policies are still attracting FDI, despite the commodities bust. Others aren’t doing so well.
Launched just three years ago, FCM Bank is the only bank in Malta to specialize solely in savings and fixed-term offerings. During a talk with Global Finance, chief operating officer Vincent Ma explained why FCM Bank has zeroed in on those two products.
In an interview with Global Finance, Andrew Géczy, ANZ’s CEO of international and institutional banking (IIB), talked about Asia’s remarkable growth—and why the region’s financial system will likely overtake the combined US and European markets by 2030.