Sunday, 21 December 2014

The IFR Awards 2014

IFR Global 2014 Cover - Awards Page

Suited and rebooted

Bank of the Year: Morgan Stanley

IFR Review of the Year 2014 By

Most investment banks spent another year under the hood fine-tuning their strategy and operations in the face of often confounding economic, business and regulatory changes. But one firm, having taken tough decisions to rebuild and remodel early, came into its own in 2014 and realised the gains of its endeavours with some glittering wins. Morgan Stanley is IFR’s 2014 Bank of the Year.


Going wild

IFR 2064 20 December to 9 January 2015

Events in Russia surpassed even the most bearish of expectations last week as the rouble crashed to all-time lows and other Russian assets slumped deeper into the mire.

Top News

The logo of VTB Bank

Russia moves to avert banking crisis

IFR 2064 20 December to 9 January 2015 By

Russian authorities have moved to ease growing signs of tension in the country’s banking system, with the central bank temporarily suspending accounting rules and readying plans to inject capital and liquidity into the sector in a bid to ease the pressure.


Russia downgrade worries grow

IFR 2064 20 December to 9 January 2015 By

Russian assets could suffer an even greater rout if the sovereign loses its investment-grade status.


Banks 'anxious' ahead of US$7.6bn Rosneft repayment

IFR 2064 20 December to 9 January 2015 By Sandrine Bradley

Russian oil giant Rosneft is expected to repay a US$7.6bn portion of a bridge loan that matures on Sunday. The settlement day for the repayment is Monday December 22, the first business day after the loan matures.


Russia-exposed banks hit hard

IFR 2064 20 December to 9 January 2015 By Alice Gledhill

Bonds from Western banks with high exposure to Russia have been badly hit by mounting concerns over the intensifying oil and rouble crisis.

People pass by a branch of The Co-operative Bank in Lo

UK stress test underlines risks of AT1 debt

IFR 2064 20 December to 9 January 2015 By

A 35% fall in house prices accompanied by a four percentage-point increase in base rates would trigger the conversion into equity of additional Tier 1 notes issued by three of the eight UK banks stress tested with this scenario by the Bank of England last week.


EM sell-off may provide opportunity

IFR 2064 20 December to 9 January 2015 By

Emerging market bonds fell victim to indiscriminate selling last week, as weak oil prices and low liquidity sent investors running for cover ahead of potential redemptions.


Aena to lead January ECM revival

IFR 2064 20 December to 9 January 2015 By

As the market moved into the dog days of December last week, there were an unusually high number of ECM bankers in situ, making last-minute preparations for IPOs slated for early 2015.


Mixed end to Hong Kong IPO year

IFR 2064 20 December to 9 January 2015 By

Hong Kong’s IPO market ended the year with polarised results last week. While Dalian Wanda Commercial Properties managed to price the city’s biggest IPO of the year near the top of its targeted range, shares in funeral services group Nirvana Asia plummeted on debut.

IFR Magazine Top News in Full (subscription required)

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Capital CityCapital City logo    

From the practice of placing a bell around the neck of a castrated ram to lead the flock

Taking the pledge

IFR 2064 20 December to 9 January 2015

NEVER MIND CELEBRATING Christmas, the Dutch are already setting themselves up for the January blues by forcing all 90,000 of the country’s bankers to swear an oath to good practice.

Special Feature

A logo of French cable operator Numericable is seen behind microphones during a news conference in Paris

European high-yield quiz of the year

By Robert Smith

Do you know your Numericable from your Wind? 


JP Morgan holds top spot but rivals gain ground in 2014

JP Morgan notched up yet another year atop the Thomson Reuters global investment banking fee league table in 2014, finishing the year with a solid 7% of the total pot – 80bp more than its nearest rival Bank of America Merrill Lynch.

Man Group

CLO market sees future in consolidation

Man Group’s planned acquisition of US fund manager Silvermine Capital appears to be the first sign of an expected wave of consolidation in the CLO market due to tighter regulations.


Russian downgrade would force more investors away

Some see the ratings move as probable, but Moscow has deep pockets…

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Mi casa, new casaVideo

Spain is seeing the first signs of improvement in the house-building sector for the first time since the financial crisis hit in 2008. David Pollard reports.

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Volatility the new norm in ChinaVideo

China’s markets look vulnerable to further losses after a steep drop in the benchmark Shanghai Index, and analysts expect further volatility ahead. Tara Joseph reports.

All Spotlight

IFR Debt Capital Markets Roundtable 2014 Cover image

IFR Debt Capital Markets Roundtable 2014

IFR’s 2nd annual DCM roundtable once again drew together a group of super-senior managers, originators and syndicators whose firms between them account for close to two thirds of total international bond issuance. As with the inaugural event in 2013, it was an opportune moment for the people who run this business to take stock of market developments and provide an update and insight into some of the transformational themes confronting the financing industry.

Investing in Midcaps Equities Roundtable 2014 cover image

IFR Investing in Small and Midcap Equities Roundtable 2014

IFR’s ‘Investing in Midcap Equities’ Webinar, held in London on October 30, tackled a lot of issues at play in an interesting but often challenging segment of the equity market.

All Special Reports