Sunday, 16 June 2019
From Hong Kong to London to New York, and all geographies in between, no investment bank had issuers’ ears quite like Morgan Stanley in 2014. Using its global footprint to boost its domestic business, Morgan Stanley is IFR’s US Equity House of the Year.
Many US states over the last 30 years have expressed some intent to diversify their energy sources away from fossil fuels, but they have struggled to make affordable, clean energy accessible to a wide population.
Royal Bank of Canada flexed its muscles as a leader and an innovator in the Canadian debt capital markets in 2014, pioneering the development of a new market for non-viability contingent capital for Canadian banks.
In a volatile year that saw just a handful of equity issues in Latin America, Mexican infrastructure firm Promotora y Operadora de Infraestructura’s US$624m capital raising stood out for its ground-breaking structure.
As a watershed year for global derivatives reform, 2014 saw one of the most ambitious strands of the Dodd-Frank Act finally come to life. Large swathes of the US$691trn over-the-counter swaps market were pulled out of the OTC shadows and into the bright lights of regulated exchanges.
All for one and one for all – that seemed to be Alibaba’s motto when it came time for the internet giant’s record-setting IPO. Levelling the playing field turned out to be good business for all concerned in the US$25bn deal.
The curious governance structure of Alibaba, the Chinese internet retailer, has focused attention on dual-class shares and how stock exchanges around the world should view corporate efforts to keep control at the top.
Leveraged loans are in vogue. Banks, issuers and investors love them, pushing issuance close to record highs in 2014. Regulators, however, face a far more daunting challenge: succeeding in supporting a fast-growing industry while reining in its riskier tendencies.
The outlook for Venezuela was looking relatively rosy until the bottom fell out of oil prices. Thus, while Argentina has room for manoeuvre, Venezuela’s window is looking increasingly opaque.
They say in Hollywood that nothing dates faster than visions of the future. Those old sci-fi movies look so cheesy now because reality always outpaces our ability to predict it. And predictions for how 2014 would turn out look, in retrospect, pretty outdated indeed.
The IFR Awards honour achievement in capital markets and are celebrated at the annual IFR Awards Dinner.
This year’s ceremony will be held on January 21 2015 once again at Grosvenor House in London. For full details, visit www.ifrawards.com.
The IFR Asia Awards honour achievement in Asia’s capital markets and are celebrated at the annual IFR Asia Awards Dinner.
This year’s ceremony will be held on February 11 2015 at the Four Seasons Hotel in Hong Kong. For full details, visit www.ifrasiaawards.com.
The hard copy of the 2014 IFR Americas Review of the Year is sent to all IFR magazine subscribers, but non-subscribers can view a full digital version for free by clicking here.
If you would like to order the 2014 IFR Review of the Year in hard copy, please contact firstname.lastname@example.org.