Fire commission a smokescreen Oct 14, 2009
Victorians will continue to absorb much of that loss long after the current politicians have retired to the sanctuary of their merchant banks and extravagant superannuation. The loss of economic activity, productivity, homes and buildings, intensification of carbon emissions, degradation of water catchments and risk to energy and infrastructure are all parts of the bushfire costs which Victorians will continue to confront. (Sydney Morning Herald -- Business)
Groomed to lead Oct 10, 2009
Amrin says Amanah Capitals status as one of the largest local merchant banks meant that it got a steady flow of jobs ... The work of merchant banks provide exposure, experience and networking opportunities. (The Star Online, Malaysia -- Business)
Zimbabwe: Lendings Slow Down as Banks Adjust to Dollarisation Aug 15, 2009
Commercial banks, loan-to-deposit ratio was 44,5%, merchant banks 48%, building societies 28,25% and savings banks 25,31 ... For Merchant banks Interfin had a loan-to-deposit ratio of 99,80%, BancABC (72,25%), Rennaisance (62,59%), Premier (51,09%), Genesis 50,42% and NDH 0 ... Of the country's six merchant banks, BancABC handled the highest deposits during the period under review of US$18,9 million, followed by Premier Bank with US$11,8 million. (allAfrica.com)
Merrill clearing the air: no sale for Berndale Aug 12, 2009
Most large stockbroking firms and merchant banks clear their own trades directly with ACH, which is owned by the Australian Securities Exchange. The majority of smaller brokers use third-party clearers such as Berndale to settle their trades - so they do not have to tie up large amounts of money to meet the ACH's liquidity requirements. (Sydney Morning Herald -- Business)
New blueprint Aug 6, 2009
The mergers of stockbroking houses and merchant banks had resulted in the creation of full-fledged investment banks, many of which are now poised to take advantage of the improving capital markets. The role of new non-traditional players in the provision of finance is also considered an upcoming force as better value propositions emerge for the ever-discerning Malaysian consumer. (The Star Online, Malaysia)
Banks line up for slice of Myer relisting deal Aug 6, 2009
The expected $2 billion relisting of the national department store chain will be a tremendous trough for merchant banks to get a snout in just before Christmas and there has been much speculation about who will get a slice of the deal. We particularly liked the effort of one financial tome, which managed to get the names of nine different financial institutions into one paragraph while speculating about possible advisers on the deal talk about hedging your bets. (Sydney Morning Herald -- Business)
FT may offload 52% in MCX-SX Aug 3, 2009
The merchant banks are speaking to foreign investors, including exchanges, for divesting 52% stake, said Mr Massey. The sale is being done to comply with regulatory requirements. (India Times)
Too big to take risks Jul 15, 2009
It is also necessary to have an underwriting mechanism for new issues, although the London merchant banks demonstrated that this function could equally well be assumed by investment institutions, with the bank acting as mere arranger and broker. The hedge-fund function of a proprietary trading desk is also valuable in moderation, but should be separated from the advisory and underwriting functions because of the gigantic conflicts of interest involved. (Asia Times Online)
Regulatory roulette Jun 3, 2009
However, the FSA, which had no responsibility for bailouts but was a child of the 1986 Financial Services Act disaster, which wiped out the British merchant banks, was consumed by the London market's attempt to overtake New York as the world's premier financial market. The RBS takeover of ABN-Amro, in particular, was a case of megalomaniac management overpaying at the top of the market, which a regulator properly concerned with the health of the financial markets would have prevented. (Asia Times Online)
Roubini Finds Economy Even He Can Be Bullish On May 29, 2009
It allowed weak and commercial and merchant banks to fail. It acted quickly to rid balance sheets of bad assets. (Bloomberg -- Columnists)
The wreck of modern finance May 20, 2009
While the 200-year life expectancies of the old merchant banks may have been excessively conservative, eight years is surely rather too short a life expectancy for banks if the market is to function soundly. The VAR assumption, that even in the other 1% of periods the model wouldn't be too far wrong, is completely and dangerously false. (Asia Times Online)
UK shows bankers the exit Apr 29, 2009
The merchant banks also had their capital bases halved in real terms by the 1970s' inflation and sterling devaluation, and their partners were no longer rich enough to inject additional capital ... The merchant banks, brokers and jobbers of 1939-79 were deeply attached to British-domiciled institutions and deeply rooted in British society; they and their senior staff had very little alternative but to remain passively in place for the Exchequer to loot. (Asia Times Online)
Jim Leech of Ontario Teachers' Pension Plan Apr 13, 2009
Before joining Teachers', Mr. Leech was President and CEO of Unicorp Canada Corp., one of Canada's first public merchant banks, and Union Energy Inc., then one of North America's largest integrated energy and pipeline companies. During the 1990s, Mr. Leech guided two start-up technology companies to the revenue generation stage. (Globe and Mail -- Business)
The baleful BrettonWoods legacy Mar 18, 2009
process of international development, driving the London merchant banks out of the business of emerging markets advice and ensuring that only intellectually fashionable development nostrums get financing ... London merchant banks were appointed as advisors to emerging markets, stationing skilled staff in the country's capital to provide advice on government finance, economic development and infrastructure investment ... Then after World War II, the merchant banks had no international financing... (Asia Times Online)
How the fat cats made the quick lawyers jump Feb 8, 2009
In other words, the idea of recent memory of lawyers trying to reinvent themselves as merchant banks "would not be high on anyone's agenda" ... In evidence was a tombstone newspaper advertisement from the bank that read: "Rothwells Limited - one day all merchant banks will be like ours". (Sydney Morning Herald -- Opinion)
