When it comes to City analysts, Dr Mike Lynch, the founder and chief executive of Autonomy, has previous.
Over the years, the Bayesian probability expert has had numerous run-ins with the scribblers who follow his software company.
Deutsche Bank has reached preliminary terms with the Dutch government to buy commercial banking assets from ABN Amro, removing a potential obstacle imposed by Brussels on plans to restructure the nationalised Dutch bank.
Or the Emotion Mirroring System for Online Traders.
This stylish bracelet and bowl are the fruits of a joint venture between Dutch electronics group Philips and ABN Amro, and were designed to help online traders make better decisions.Here’s how the system works: The Emobowl ™ acts as an emotion mirror,
The non-call risk which has haunted hybrid bonds, or subordinated debt, in recent months appears to have spread — all the way to Dutch RMBS.
Recall that a number of hybrid bonds have been downgraded recently,
Markets live chat transcript for the chat ending at 12:05 on 30 Sep 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:good morning NH:and welcome to another edition of Markets Live
The Dutch state is pursuing parallel tracks to sell the commercial banking arms of either ABN Amro or Fortis Bank Nederland in an effort to satisfy EU competition regulators that a merger between the two state-owned banks can proceed.
Details of Banco Santander’s IPO of its Brazilian unit serves as a further reminder that its 74 year-old chairman Emilio Botin is a bit of a shrewdie.
While RBS and Fortis blew themselves up with their ill-timed acquisition of ABN AMRO,
CreditSights, an independent research firm that’s not afraid to fight its corner, has issued a timely note on the exposure of UK banks to commercial real estate (CRE).
According to analyst Simon Adamson,
Woosh. That is the sound of a hybrid debt bomb being dropped on the European market, courtesy of ratings agency Fitch:
FITCH DOWNGRADES LLOYDS, RBS, ING, OTHER EU BANKS’ HYBRIDS ON INCREASED RISK OF COUPON DEFERRAL
Fitch Ratings-London-20 August 2009:
Sir Fred Goodwin, former CEO of Royal Bank of Scotland, has agreed to hand back more than a third of the pension he was paid after leaving the stricken bank last year. Sir Fred was pilloried for accepting a £703,000 annual pension from RBS,
Morgan Stanley has hired Clark Hutchison and Bill Templer, co-heads of exchange-traded derivatives at UBS, in a push to become a top-tier broker in the listed futures and options industry. The two helped UBS scale the rankings in exchange-traded derivatives,
It was almost a year ago that UK activist investor The Children’s Investment fund was making huge waves in Japan, not least with its full-frontal assault on Electric Power Development Co, the Japanese electric power wholesaler and nuclear energy company known locally as J-Power.
“Sorry” was not really a word that figured prominently in a big banker’s lexicon — unless, that is, it was merely to express regret for missing a deal or an important client. How times change. Since early last year,
Guy Whittaker, finance director of Royal Bank of Scotland, will leave his job, clearing the bank’s board of one of the last executives responsible for the ill-fated takeover of ABN Amro, its Dutch rival.
While currencies rise and fall (and fall, and fall) forex trading is alive and well and continues to generate steady profits for banks - particularly Deutsche Bank and UBS which grabbed the biggest market share of the FX dealing business worldwide in 2008,
Royal Bank of Scotland will take at least three to five years to recover after the disastrous acquisition of ABN Amro assets that were instrumental in damaging its balance sheet, chief executive Stephen Hester said at the bank’s annual meeting on Friday.
Markets live chat transcript for the chat ending at 12:06 on 3 Apr 2009. Participants in this chat were: Neil Hume, FT (NH) Paul Murphy, FT (PM) NH:Good morning and welcome to Markets Live
Credit derivative markets started the week with a clear lack of conviction trending weaker, although not to the same degree as equity markets.
Worries about bank capital remained the leading concern,
Never one to pass up a chance to make money - or to let go of a lucrative project in-hand - Goldman Sachs has shown some uncharacteristic uncertainty over its maybe-maybe-not deliberations about whether to sell down its 4.9 per cent stake in Industrial and Commercial Bank of China - described by Bloomberg on Thursday as “the world’s most profitable bank”
European banks were some of the better performers in European credit derivatives markets on Tuesday, following the announcement of Tim Geithner’s public private toxic asset plan on Monday.
ABN Amro Bank CDS was tighter by 8.6bp at 99.125bp;
He’s a man who has been heavily involved in disastrous banking mergers.
Bespectacled, married, in his late 40s and drives a Maserati.
[One unhappy client] now refers to him as the ELF, which does not stand for Erudite Likeable Fellow.
Last month, New York attorney general Andrew Cuomo scored a victory when a judge ruled former Merrill boss John Thain would have to name names in the Great Merrill Lynch bonus scandal.
Cuomo had, of course,
Amsterdam: the most civilised city in the world, some might say. Famously permissive (although no tobacco allowed in those reefers these days) and offering a tight social safety net for the disadvantaged.
RBS plans to sell its Asian retail and banking assets as part of its restructuring plans to scale back its operations in Asia, where its presence greatly expanded after the acquisition of ABN Amro. The bank had signalled its retreat from the region last month with the sale of its $2.4bn stake in Bank of China.
This CDS report was written by Markit’s Gavan Nolan
It is not often that a company reporting a £24.1 billion net loss for a year - a UK record - would be regarded as a cause for celebration. But these are extraordinary times,
Last time we checked (Forbes this time last year), with around $3.8 trillion of assets, RBS was the biggest company in the world.
But with profits for 2008 coming in at £80m, we think it might also qualify as the worst.
Markets live chat transcript for the chat ending at 12:15 on 20 Feb 2009. Participants in this chat were: Paul Murphy, FT (PM) Neil Hume, FT (NH) PM:Welcome! PM:This is Markets Live – FT Alphaville’s daily market commentary
The former bosses of RBS, one of the UK’s highest profile banking casualties, admitted to a parliamentary inquiry into the near-collapse of the bank and HBOS that RBS’s acquisition of Dutch rival ABN Amro at the height of the boom in financial markets “a bad mistake”.
Fortis shareholders will vote Wednesday on whether to sell the Belgo-Dutch group’s Belgian banking operations to BNP Paribas amid warnings of dire consequences if the deal is rejected, as looks increasingly likely.
Earlier this morning former chairman of RBS Sir Tom McKillop admitted that a lot of the bank’s’ thinking, back in 2007 - the year it bought ABN Amro - was rather panglossian. ‘’All was best in the best of all possible worlds”
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