Keith Mullin is founder of KM Capital Markets. He has spent over 25 years covering capital markets. Keith was editor-at-large of IFR until early 2017 and editor of IFR magazine 1996-2007.
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A monetary cycle that was supposed to have seen the Federal Reserve and European Central Bank back quickly away from their stimulative policies and move into full-blown tightening has been replaced by a rapidly hatched Plan B. Markets are struggling to figure it all out.
A decade on from the demise of Lehman Brothers – and with a new generation of leaders at the helm – the banking sector has reached a turning point. Legacy issues from the crisis have faded in intensity and, while some potentially formidable challenges lie on the horizon, the industry narrative has at last shifted to thinking about the future.
Over the decades, Japanese banks have been criticised, fairly or unfairly, as having a boom-bust approach to international business. How do the international ambitions of Japan’s major financial groups stack up today amid ongoing monetary stimulus at home and a challenging environment overseas? Is it different this time?