The Big Interview
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New support from US and others will enable leverage increase, treasurer says
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The first ever female head of a Latin American development bank wants to focus on transparency, efficiency and impact
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The bank hopes its green print will prove a blueprint to others
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'When a key investor steps away, you can still syndicate the deal', Blackstone Credit's Alex Leonard tells GlobalCapital
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The independent advisory firm now boasts a full-service equities and ECM platform after completing the acquisition of Redburn Atlantic
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Robert Lane says solar has dealt well with headwinds and that providers are being rational with their pricing
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One of the bond market’s most charismatic bankers speaks exclusively to GlobalCapital about 21 years in the emerging markets and what makes the perfect syndicate manager
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Carlos García Moreno wants telecoms group’s bonds to be the 'prime non-governmental asset' in Mexico
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Programmable smart contracts set to bring transparency to the market as banks and issuers continue trials
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Deputy finance minister tells GlobalCapital the initiative has particular focus on gender bonds
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The CEO of the London Stock Exchange discusses Arm’s decision to go to New York and the recent spate of government-led reviews to the ECM regulatory regime
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ECM veteran discusses opportunities away from the trading floor, the legacy of the financial crisis and how rule makers have misunderstood what makes investment banking risky
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GlobalCapital spoke to Titan Asset Management CIO John Leiper, formerly of Morgan Stanley and Credit Suisse, for a temperature check of secondary markets, as a critical week of central bank meetings drew to an end
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Hit €2bn retail bond had ‘communication value’ on oil company’s stance on emissions and exploration
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Ballooning net supply bodes poorly for European government bonds
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After a long career, the German discusses technological innovation and whether or not bond syndication could be fully automated
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GlobalCapital spoke to founder John Bentinck, former Goldman head of syndicate, who raised £5.3m to digitise equities deals
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Ahmed Kouchouk, Egypt's deputy finance minister, talks up the country's soon-to-be-signed off IMF loan while outlining a novel Panda bond structure and the need to be constantly sourcing new pockets of investor liquidity
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Merger with Leaseplan will increase funding needs, bring higher rating
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Michael Ebert, co-head of the Swiss outfit’s new markets business, explains how the unit will fit into its new structure
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- Financial services still have a problem with employing women - We ask two senior women from the industry how to fix it - What should women looking for a career in finance be asking employers
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GlobalCapital speaks to Barbados prime minister Mia Mottley, whose calls for the world to increase efforts to fight the climate crisis are intrinsically linked to sovereign debt
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The chairman of SNB rules out increasing its stake in Credit Suisse but says an alliance between the two banks could be possible
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A restructuring of the investment banking business that began three years ago is showing clear results in Asia Pacific, but there’s still room for growth
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The head of Austria’s debt management office, Markus Stix, previews the first sale of sovereign green T-Bills and discusses the country’s growing ESG funding task
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Nomura’s syndicate boss, Nick Dent, has set up his desk in a way designed for the sort of speedy decision-making that will, he claims, be crucial for primary credit in persistently volatile markets
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Ukraine will find itself in 'awkward' position when negotiating with creditors
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Roadmap for innovation is being drafted, chair of capital adequacy panel tells GlobalCapital
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Bank’s sustainability expert Zoe Knight spoke to GlobalCapital after shareholder motion withdrawn
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Spanish bank adds experience and sophistication to balance sheet power to grow capital markets business
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Defining clients as European, US or Japanese does them a 'disservice', says US head of advisory and capital markets. 'At the end of the day, there are SMBC clients.'
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Suriname’s debt workout has the ingredients to be a fascinating case study for sovereign restructuring. GlobalCapital spoke exclusively to the two ministers leading creditor negotiations, Armand Achaibersing (l) and Albert Ramdin (r).
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CA CIB’s drive to reduce emissions begins with slimming oil exposure
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Private credit specialist sees sharp growth in direct lending, but questions the efficacy of using IRR figures to judge a fund's performance
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In October La Banque Postale became the first bank to announce it was exiting fossil fuels altogether, and the first to have a validated Science-Based Target for decarbonising its portfolio. Philippe Heim, the bank’s CEO, talked to GlobalCapital about what this path will involve, and LBP’s wider drive to create ‘impact banking’.
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‘Role of multilateralism is crucial’ says Jingdong Hua, as World Bank treasurer announces retirementJingdong Hua, the treasurer of the World Bank, announced his retirement this week, marking the end of an illustrious career spanning across various development finance institutions in different continents where he witnessed several crises. GlobalCapital spoke to Hua about his career, the Covid-19 pandemic and his passion for multilateralism.
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Natixis's co-head of its corporate and investment bank tells GlobalCapital how Groupe BPCE has turbo charged his firm's ability to take on more business as it looks to expand into new sectors and markets
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Hayes claims the banks knew exactly what the traders were doing and that his sentence was an 'absolute joke'
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"We want to use this change of structure and these new leadership roles to foster this multi-product solutions mentality," Pete Mason tells GlobalCapital
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KfW has had a strong start to 2021, raising over €50bn in the first six months of the year — around two thirds of its target. The agency will face new challenges in the latter half of the year, particularly in the form of the European Union’s colossal Next Generation funding programme. But treasurer Tim Armbruster, and head of capital markets Petra Wehlert are confident they can navigate the new landscape.
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Natasha Harrison, the heir apparent to fabled law firm Boies Schiller Flexner, told GlobalCapital that while she was not expecting a collapse in corporate credit coming out of the coronavirus, there will be big opportunities for sophisticated distressed debt investors.
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Antonio Cordero Gomez, chief financial officer of Instituto de Crédito Oficial, spoke to GlobalCapital about the need for continued innovation in the world of ESG labelled bonds, and about Ico’s role in fighting the economic consequences of coronavirus.
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Former Goldman Sachs partner Tim Flynn co-founded credit fund manager Hayfin in 2009, with the global financial crisis of 2007-08 already in the rear view mirror. Having steered his firm through the European alternative credit market's first major test, he talked to GlobalCapital about how funds are managing their way through the Covid-19 crisis and whether their performance will attract more investors into the asset class.
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Leaving investment banking to join the world of impact investing and environmental NGOs is not something people do lightly. But having made that move a decade ago, Keith Tuffley has been tempted back, to help shape the response of Citigroup’s investment bank to the accelerating rise of sustainability.
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The Pfandbrief market is in the middle of a tumultuous year which includes not only the adoption of the EU's Covered Bond Directive but also digesting the bloc's Taxonomy for Sustainable Activities. Of course, this is all happening against the backdrop of the coronavirus pandemic and lockdowns, which have hit the commercial real estate market that underpins much of the product. Jens Tolckmitt, chief executive of the Association of German Pfandbriefbanks (vdp), spoke to GlobalCapital about how the market has coped.
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As its debt-to-GDP ratio inflates and its public finances come under pressure, some have wondered if Tunisia will succumb to a debt restructuring process. But the governor of the Central Bank of Tunisia, Marouane El Abassi, told GlobalCapital that the country is intent on securing new IMF funding as a prerequisite to entering capital markets.
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Neoen, the French renewable energy company, completed a €600m rights issue at the start of April to help fund it until 2025. Its CFO, Louis-Mathieu Perrin, spoke to GlobalCapital about the deal and explained how green equity stories can still win investors’ attention, despite a recent cooling off in stock valuations.
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Kenneth Lay, chair of the International Finance Facility for Immunisation (IFFIm), is no stranger to using financial innovation to help tackle some of the world's biggest problems. He spoke to GlobalCapital about the importance of IFFIm as a vehicle to finance the global vaccine rollout in the fight against the coronavirus pandemic.
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Ukraine is once more at the forefront of emerging market investors' worries as military tensions with Russia escalate. Amid the uncertainty, Ukraine is fighting another uphill battle to access IMF funding in order to recover its economy as soon as possible. The governor of the National Bank of Ukraine, Kyrylo Shevchenko, spoke to GlobalCapital about the challenges the country is facing and the importance of central bank independence.
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Semrush, the Boston-headquartered marketing software company, listed on the New York Stock Exchange last month during a tricky time for the IPO market. CFO Evgeny Fetisov talks to GlobalCapital about the IPO and the challenges in taking the firm public.
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Fix Price, the Russian discount retailer, became a public company at the beginning of March in a $1.9bn IPO on the London Stock Exchange. Its CFO Anton Makhnev sat down with GlobalCapital to discuss the deal.
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One big crisis should be enough for anyone's career. But Sir Robert Stheeman, chief executive of the UK's Debt Management Office, has had to face two monumental financial catastrophes in the last 13 years — first the 2008 UK banking crisis and then last year's pandemic.
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Pablo de Ramón-Laca is director general of the treasury and financial policy at Spain's Ministry of Economic Affairs and Digital Transformation. That places him in charge of the world's ninth largest sovereign debt stock, according to S&P data, for a country pummelled by the Covid-19 pandemic. Spain has the second highest number of cases in the EU and the seventh highest in the world. But even that is not the full story of the pandemic's impact.
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Sovcombank, one of Russia’s largest private banks, is making strides in its push to reshape Russia’s financial services marketplace. Dmitry Gusev, its chief executive, talks to GlobalCapital about the bank and its plans for 2021, ahead of a possible IPO.
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Veteran equity analyst and forensic accountant Steve Clapham believes it is stories that drive investment decisions and seldom cold analysis of financial accounts. But he believes it is hard to find a company which isn’t engaged in some level of financial wrongdoing and argues that auditors are blind to it, wilfully or otherwise.
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Carlos ‘Sonny’ Dominguez, finance minister of the Philippines, has been forced to swap long-term planning for emergency responses to the coronavirus. He talks to GlobalCapital about what comes next.
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Kyle Bass, made famous by shorting the US housing market in the run up to the financial crisis, has told GlobalCapital that the Chinese state is a paper tiger on the road to collapse. The Texan, who has been on a fierce campaign against the Chinese Communist Party for years now, says that US politicians are finally catching up with his position.
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Gabriel Grego, managing partner and chief investment officer at Quintessential Capital, is known among investors for his devastating critiques of fraudulent companies. A former paratrooper in the Israeli Defence Force, Grego is on what he sees as a moral crusade to sniff out corporate corruption. He is adamant, he tells GlobalCapital, that activist short selling is a force for good in financial markets — and society as a whole.
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Hugh Hendry, the outspoken founder of former macro hedge fund Eclectica Asset Management, told GlobalCapital he sees no evidence for the re-emergence of global macro as a broad and viable investment strategy. Were volatility to rise again, Hendry says he may well get back into the financial fray but the likelihood of that is vanishingly slim.
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Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds almost $400bn of assets under management, has played a critical role in maintaining financial stability during the coronavirus pandemic. Alireza Zaimi, head of corporate finance at the PIF, tells GlobalCapital how the fund weathered a commodity shock of unprecedented proportions, how the crisis has shaped its investment choices, and how its funding strategy has held up.