Western Europe

Fixed Income | With this summer’s Greek debt crisis having abated somewhat and the European Central Bank (ECB) considering expanding its easy-money policies, US companies are rushing to the eurozone to issue debt at record-low interest rates.

Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.

Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have provided the best service to clients.

Executive Management | In light of a shareholders’ vote on September 22 as to whether Bank of America chief executive officer Brian Moynihan should remain chairman as well, the debate about whether the two roles should be separate rages on in the United States.

What’s irking central bankers is not that they have bought too many stocks or bonds. Rather, it’s that they haven’t bought enough.

Table Of Contents

Mergers & Acquisitions | Slowing growth and severe stock market falls have raised fears that China is nearing some sort of crossroads. Some economists believe that, owing to tight central controls, Chinese corporations won’t hit their expected growth targets.

Central bank heads were once a predictable and conservative lot. Now they’re swooping in, buying huge amounts of securities and rolling out unorthodox policies to avert danger.

Winterkorn is forced to resign after it was revealed the company was guilty of manipulating diesel emission tests.

When former UBS and Citigroup derivatives trader Thomas Hayes was found guilty last month on all eight charges of conspiracy to manipulate Libor, it was the verdict heard around the world.

Martin Gilbert, chief executive at Aberdeen Asset Management, says diversification and globalization will see an ever-increasing number of businesses turn to outside portfolio managers.

Dick Oskam, global head of sales for transaction services, ING, talks virtual bank accounts and blockchain technology.

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)

Global Finance talked with Reyer Kooy, head of institutional liquidity management, Europe, EMEA and Asia, for Deutsche Asset & Wealth Management—the top bank in GF’s ranking—about the shift in how companies invest.

Trends | Crowdfunding
With traditional lenders facing stricter liquidity requirements as a result of the global financial crisis, crowdfunding is becoming an increasingly appealing source of financing for corporates.

BBVA’s President and COO Carlo Torres Villa on the explosive growth of online banking and mobile banking.  

Newsmakers | Turkey
It has been said that ultimately all political careers end in failure, but until June 7, few observers were expecting this maxim to be true, quite yet, of Turkey’s president, Recep Tayyip Erdoğan.

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.

Country Report | Portugal
Portugal’s economy is booming. Exports are up and unemployment is down. Insufficient capital investment is the last tough nut to crack, and the government is attacking it with gusto—and significant tax reform.