Investment Banking Blog

Banking on Mitigation

2007-02-08T02:24:00.000-08:00

Although the Clean Water Act protects U.S. wetlands, every year thousands of acres of swamps and marshes are legally destroyed and converted into golf courses, shopping malls and other forms of dry, lucrative ground. Since 1989, the goal of wetlands policy has been to achieve "no net loss," but that remains an elusive target. Under current guidelines, developers whose projects will impinge on natural wetlands can receive permits allowing construction in return for agreeing to offset the damage through a process known as compensatory mitigation. The two most common forms of this practice are individual mitigation, in which developers build compensatory wetlands themselves, and mitigation banking, in which developers purchase credits from companies (mitigation banks) that have restored or created wetlands nearby.

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AIM-TO announces interface w/ Australian Investment Bank

2007-02-06T02:27:00.000-08:00

HedgeCo.net -- New York, NY (January 17, 2007) AIM-TO announce a successful launch of a new version of their post-trade, operation reporting and risk management platform VerusHedge. The new version of the software has a specialized interface with Australia’s leading Prime Broker - Macquarie Bank. John Vaughan, President and Founder of AIM-TO responds: "Our Company has a "service excellence" culture. One of our emerging markets customers brought us a requirement to work closely with Australia’s leading prime broker, Macquarie Bank. Our team was able to leverage VerusHedge‘s advanced data messaging services and advanced security master to quickly adapt to the Australian bank’s systems" Stephen Casner, CEO of AIM-TO said, "While VerusHedge has always interacted with the largest and best prime brokers in the United States, it is exciting to see our clients ask us to interact with Austral-Asia investment banks. It is even better to watch our technology rapidly deliver those solutions with no interruption or disruption to our current client’s operations." About AIM-TO AIM-TO Inc, is a leading provider of Alternative Investment Management Technology Outsourcing solutions, offering the latest post trade operations and risk management system for specialized and multi-strategy Hedge Funds.

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Nanyang Commercial Bank applies to be incorporated in China

2007-02-02T02:25:00.000-08:00

Feb. 2, 2007 (China Knowledge) – The Nanyang Commercial Bank, a subsidiary of the Bank of China (Hong Kong) Ltd., has submitted an application to locally incorporate in the China mainland. The bank is applying to transform its branches into locally incorporated banks registered in the mainland. If approved, the bank will mainly provide RMB retail services. The Bank of China (Hong Kong) Ltd., as an overseas-funded bank, will continue to focus on corporate banking in the Mainland. So far, nine banks have been approved by the authorities to incorporate in China. They are: HSBC, Citigroup, Standard Chartered Bank, Bank of East Asia Ltd., Hang Seng Bank Ltd., Mizuho Corporate Bank Ltd., Bank of Tokyo-Mitsubishi UFJ Ltd., DBS Bank Ltd. and ABN Amro Bank NV. China has ruled that foreign banks that do not incorporate in China will face restrictions like being only allowed deal with single deposits less than RMB 1 million while the foreign banks incorporated in China with a registered capital of RMB 1 billion or more get to offer a full array of retail RMB services to the Chinese people.

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113 bribery cases uncovered in China's banking sector last year

2007-01-31T02:29:00.000-08:00

A team of bank inspectors uncovered 113 cases of bribery in China's banking industry last year, involving 164 people and 26.08 million yuan (3.3 million U.S. dollars). The team, which was formed in February last year to clamp down briberies in the country's banking industry, said in its report on Tuesday. Most of the cases have been tried, said the team which was set up by the China Banking Regulatory Commission. A number of bank crimes have rocked the banking industry in recent years, as China reforms its state-owned banks, which had management loopholes and weak risk-control mechanisms. Last year the former president of China Construction Bank (CCB), Zhang Enzhao, was sentenced to 15 years in prison for taking bribes totaling more than four million yuan (500,000 U.S.

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Investment bank races apps around the grid

2007-01-29T02:28:00.000-08:00

Banking giant Merrill Lynch is using grid technologies to boost the performance of its applications, with some now running four times faster than before. Juan Lando, director of the company's grid centre of expertise, said grid is a technology with "tremendous amounts of benefit" for the business. Grid allows companies to get more use out of their existing hardware. For example, a business might hit four or five peaks in demand for computing power in a day, and so would buy enough processing power - hardware - to make sure it could cope with those peaks. But that could mean a lot of spare capacity sits unused most of the time. Grid allows organisations to share that computing power - both in servers and desktops - and so reduce that waste. silicon.com Financial Services Get the latest financial services news straight to your inbox.

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Commercial Loan - Broker Or Bank?

2007-01-23T02:29:00.000-08:00

There is an estimated 5.2 million commercial properties within the UK. The commercial property market expanded by over 32 per cent during 1990-2000 (according to the new products started) compared with the previous decade, in itself a decade of exceptional growth. Bank lending for commercial property deals rose by a record £7.7 billion in the first quarter of 2005, according to data provided by the Bank of England, and property experts believe the bulk of the new lending was for investment purchases. There has also been a substantial rise in the number of investors looking to buy commercial properties to put into Self Invested Personal Pension Schemes. Property investment funds received a boost as of late last year after the Government announced plans to allow them to be included in an ISA (Individual Savings Account) wrapper.

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Banking on bonds

2007-01-21T02:29:00.000-08:00

Montgomery isn't the Big Apple when it comes to size but it can hold its own in the world of high finance. Every year investment banking firms in Montgomery underwrite billions of dollars in bonds to finance everything from road projects to school improvements, an immensely powerful industry that has deep roots in this city. "A billion here, a billion there, and pretty soon you're talking about real money." Montgomery's investment bankers know well that quip of former Sen. Everett M. Dirksen. Their bond deals usually come in bite-sized pieces of $40 million to $100 million, a vast wealth for most but just another day at the office for these power bankers. Added together they total billions of dollars. Two Montgomery firms said they recorded all-time high sales last year, a sign that the area's investment banking sector continues to succeed in this highly competitive industry, even as local firms bump against the giants of Wall Street.

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Investment bank finds things are looking up in SF market

2007-01-19T02:33:00.000-08:00

Drawn to the Bay Area by an upswing in the office market, JPMorgan Chase & Co., the New York investment bank, decided a little over a year ago to open an office in San Francisco. Kate Emerson, 31, a vice president at the bank who heads the San Francisco group, helps the bank write loans that are then sold to Wall Street investors. Emerson was involved in last year's second-biggest real estate transaction in the Bay Area, the sale of about $1 billion worth of office space in Silicon Valley to Rreef, the San Francisco real estate division of Deutsche Bank AG. "There is a great energy here," Emerson said. "I feel very fortunate to arrive when I did." The Bay Area is benefiting from a resurgence in Silicon Valley, which has improved the office market there and also had a spillover affect in San Francisco, where accountants, lawyers and other professionals are taking more space because of demand from clients in the South Bay, Emerson said.

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Commercial Bank raises capital by Dh172m

2007-01-17T02:37:00.000-08:00

Dubai: The Commercial Bank International (CBI) has increased its capital by Dh172 million in the second phase of its strategic move to financially streng-then itself. CBI's capital presently stands at Dh828 million. The bank is preparing to boost its capital to Dh1 billion by March 18, which will be a substantial increase from the Dh479 million CBI had started with. Khamis Buharoon, chief executive officer of CBI, said, "The bank declared stock dividends of 60 per cent to its shareholders in 2005, which raised the capital from Dh299 million to Dh479 million. This 60 per cent dividend is considered to be one of the best in the market and places CBI at the top rung in the banking industry of the country." The planned increase in capital from Dh479 million to Dh1 billion will happen in three tranches.

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Deutsche bank captures prestigious banking award

2007-01-15T02:36:00.000-08:00

Deutsche Bank has earned the accolade of the best private bank in the Cayman Islands in the prestigious Euromoney private banking survey 2007. The survey reflects the opinions of both advisers to private clients and other wealth management companies. The review also takes into account a wide range of factors including assets under management,profitability, ratio of clients to relationship managers and the services offered. Janet Hislop of Deutsche Bank Cayman said the award confirmed the banks high level of service and commitment to its clientele. It is very pleasing to win this award and to be recognised by advisers of private clients. To be named at the top of the rankings in this prestigious survey is a tribute to the staff in the Cayman Islands, she said.

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Deutsche Bank Publishes Fifth Annual Alternative Investment Survey

2007-01-13T02:28:00.000-08:00

NEW YORK--(BUSINESS WIRE)--Deutsche Bank today announced the results of its Fifth Annual Alternative Investment Survey, which was conducted during the second half of 2006. Over 1000 representatives from almost 700 institutions responded to this year's survey, including banks, corporations, insurance companies, consultants, family offices, high net worth individuals, wealth management companies, funds of funds, pensions, government organizations, endowments and foundations. "Despite a series of setbacks and scares in 2006, survey respondents feel the hedge fund industry will continue to grow modestly in 2007," said John Dyment, Global Head of the Hedge Fund Capital Group at Deutsche Bank. "Investors indicated that they are keeping the market and industry events of 2006 in perspective and using risk management as key factor in selecting hedge fund managers." Highlights of Deutsche Bank's Fifth Annual Alternative Investment Survey Investors rank the best performing investment strategies for 2007 – 18% rank long/short equity as the top performing strategy, 13% rank macro and 12% rank event-driven/relative value strategies as top performers.

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CanWest creates media powerhouse by buying Alliance Atlantis

2007-01-11T02:28:00.000-08:00

TORONTO - Consolidation in the Canadian media sector took another leap forward Wednesday, as CanWest Global Communications Corp. agreed to buy Alliance Atlantis Communications Inc. for $2.3 billion, giving CanWest access to 13 specialty channels including Showcase and Food Network Canada to bolster its conventional TV network. CanWest, the Winnipeg-based owner of the Global television network and 11 major daily newspapers across the country, including the National Post, acquired Alliance Atlantis with a private equity arm of New York investment bank Goldman Sachs. It is the first major media deal to follow last summer's $1.7-billion purchase of Citytv parent company CHUM Ltd. by Bell Globemedia. ``The combined expertise of CanWest and Alliance Atlantis will enable us to produce even better Canadian content, promote it more effectively and provide greater access to more viewers across more platforms,'' Leonard Asper, the chief executive of CanWest, said after the deal was announced Wednesday afternoon.

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Frick a rising star in banking

2007-01-09T02:43:00.000-08:00

In his 27-year career with Bank of America and its predecessors Michael Frick has steadily climbed up the ranks from manger trainee to one of the top executives in the company's commercial banking department. Today, he adds another achievement and title to his resume. At 48, Frick has been named Bank of America's market president for its 17 locations in the Memphis area. He succeeds Gerald Wade. .

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Alliance Investment Bank completes merger with KLCS

2007-01-07T02:34:00.000-08:00

Alliance Investment Bank Bhd (AIBB) has completed its merger with Kuala Lumpur Securities Sdn Bhd (KLCS), which would enable it to offer stockbroking services, enhancing its capability and position as a key player in the domestic and regional equities markets. AIBB, a member of the Alliance Banking Group, said the merger of its merchant banking business and KLCS' stockbroking business was the final phase of the rationalisation process. The group chief executive officer of Alliance Banking Group, Bridget Lai, said the new investment banking structure further strengthened AIBB's competitive edge, “particulary in terms of capitalising on our end-to-end servicing capabilities – from orignisatrion to execution to distribution". “AIBB is now in a privileged position to harness all investment banking opportunities within the market.

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Commercial Bank of Dubai night at Nad Al Sheba

2007-01-03T02:38:00.000-08:00

Dubai: The Commercial Bank of Dubai announced yesterday that it was teaming up once again with the Dubai Racing Club as supporter of racing at Nad Al Sheba Racecourse tomorrow evening, the eighth meeting of the Winter Racing Challenge. Commercial Bank of Dubai was established in 1969, as a public shareholding company. Over the years, Commercial Bank of Dubai built itself into a progressive and modern banking institution, endowed with a strong financial structure and strong management, as well as a loyal and ever-increasing customer and correspondent base. Peter Baltussen, Chief Executive of Commercial Bank, said: "We at Commercial Bank of Dubai are proud of our commitment to participate in sponsoring horse races at Nad Al Sheba. "This participation comes within the framework of Commercial Bank of Dubai's social responsibility towards sports and youth activities in UAE." .

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BANKNET360 RADIO: On Banking Presents Mobile Banking Customer Service

2006-12-30T02:32:00.000-08:00

On this edition of On Banking, first ATMs allowed customers to get cash at anytime of the day. Then, online banking allowed customers to take care of their banking needs from the comfort of their homes. Now, mobile banking is poised to allow customers to access banking services from anywhere, anytime. In the final part of our three part series with mobile banking technology provider ClairMail, chief executive Joe Salesky discusses the impact mobile banking will have on customer service. Click on "Read More" below for the full article by BankNet360 Radio. .

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European Islamic Investment Bank Plc tackles key issues at Islamic ...

2006-12-28T02:34:00.000-08:00

(MENAFN Press) European Islamic Investment Bank Plc ("EIIB"), the first independent, Sharia'a compliant Islamic investment bank to be authorised and regulated by the Financial Services Authority in the UK, sponsored a roundtable debate on Islamic investing held recently in Manama, Bahrain. The debate was hosted by International Fund Investment magazine. The panellists participating in the debate included Jeremy Beswick, Head of Asset Management, EIIB; Saad Al Shamlan, CEO of Capital Management House; Zeeshan Ali, portfolio manager at Argent Financial Group International; and Bindesh Shah, founding partner of Amiri Capital. The debate was moderated by Simon Osborn, Editor - International Fund Investment. The discussion covered a range of topics under the overall theme of Islamic vs.

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Desert Commercial Bank Asset and Deposit Growth Tops Averages of ...

2006-12-26T02:35:00.000-08:00

PALM DESERT, Calif.--(BUSINESS WIRE)--Respected Irvine-based investment bank Carpenter & Company ranks Desert Commercial Bank's (OTCBB:DCBC) asset and deposit growth in the top quartile of the class among the 26 California banks formed in 2005. The peer data reflects an analysis of financial performance through the third quarter of 2006. Carpenter & Company shared the findings following the recent DeNovo Bank Conference in Newport Beach, co-sponsored with the Western Independent Bankers Association. Desert Commercial Bank's (http://www.desertbanking.com) asset growth eclipsed the statewide average by more than 47%, with total assets standing at $112,166,000, as compared to an average of $76,146,000 for other California DeNovo institutions that started in 2005.

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Chinese snub online banking amid safety concerns

2006-12-17T02:34:00.000-08:00

The majority of Chinese consumers refuse to use online banking services because they are concerned about their safety, a recent survey by the China Financial Certification Authority (CFCA) has shown. Sixty percent of the respondents said they "dare not" use services such as payment of fees and bank transfers over the Internet, said the survey which covered netizens and accountants in 10 leading cities, including Beijing, Shanghai and Guangzhou. But the number of individual users of online banking services did increase by 170 percent and the number of enterprises nearly tripled this year against the same period last year, according to the survey. About 40 million people are using online banking in China, only one third of its total population of netizens.

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Investment Bank Shares Mixed As Lehman and Bear Stearns Earnings ...

2006-12-15T02:32:00.000-08:00

NEW YORK (AP) - Shares of investment banks were mixed Thursday after Lehman Brothers Holdings Inc. and Bear Stearns Cos. reported fourth-quarter earnings that capped off stellar years, but weren't as sizzling as the results seen earlier this week from Goldman Sachs Group Inc. Both Bear Stearns and Lehman followed Goldman in beating the mean Wall Street estimate for fourth-quarter profit, although Lehman's results didn't exceed expectations by as wide a margin and its shares dropped 42 cents to $75.95 in morning trading. Bear Stearns reported earnings of $4 per share, surpassing estimates because of fees for underwriting debt and advising on takeovers. .

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Erste Bank takes over new stake in Romanian Commercial Bank

2006-12-13T02:36:00.000-08:00

Erste Bank, the majority shareholder of the Romanian Commercial Bank (BCR), took over another 7.2% stake in the Romanian group that have so far belonged to BCR employees. Erste Bank's stake thus rises to 69.11%, an Erste press release says. Of a total of 64,497,500 shares held by BCR employees (8% of the total), 57,313,356 shares (7.2% of the total) were sold or changed as Erste's offer to take over the package was accepted. About a third of the transacted shares were sold for 6.5 euro per share, totaling some 130 million euro. The other two thirds were replaced with Erste Bank shares at an exchange rate of six to one. Thus, Erste will issue 6,287,236 new shares with a capital increase accounting for 2% of the share capital of the bank. Some 12,197 of the 13,000 BCR employees agreed to the Erste offer in November.

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BANKING: Bank of America eyes takeover of Barclays

2006-12-09T02:36:00.000-08:00

Shares of Barclays PLC rose more than 3 percent Friday after an investment analyst advised clients that Bank of America Corp. may be interested in bidding for the London-based banking company. "Bank of America has previously indicated that the next phase of its expansion is to become a leading global commercial and investment bank," Merrill Lynch research analyst Edward Najarian wrote in a note to clients Friday. "In order to achieve that goal, we believe Bank of America is very interested in acquiring Barclays." Barclays' U.S. shares rose $1.91, or 3.4 percent, to $57.70 on the New York Stock Exchange, while Bank of America share fell $1.06, or 2 percent, to $51.34. Barclays, the United Kingdom's third-largest bank by market capitalization, would give Bank of America, headquartered in Charlotte, N.C., a significant international presence.

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M'sia Suggests An Asian Infrastructure Investment Bank

2006-12-07T02:37:00.000-08:00

KUALA LUMPUR, Dec 7 (Bernama) -- Second Finance Minister Tan Sri Nor Mohamed Yakcop Thursday called on Asian countries to study the possibility of setting up an infrastructure investment bank to mobilise resources primarily from the capital markets. Taking the cue from the successful experience in Europe, he said the setting up of the bank along the lines of the European Investment Bank, could lead to some financial assistance to member countries for their development needs. He said it was recognised that many developing countries in the region have under-invested in infrastructure development. This was premised on the Asian Development Bank's (ADB) estimate that lower income countries need to invest more than six percent of their gross domestic product (GDP) to meet infrastructure needs whilst middle income countries need about 3.8 percent of their GDP to sustain their economic growth.

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Wajed`s alliance imposes transport blockade in Bangladesh

2006-12-03T02:33:00.000-08:00

Dhaka, Dec 03: Sheikh Hasina Wajed's 14-party alliance today went ahead with a nation-wide transport blockade to step up pressure for "electoral reforms" after Bangladesh President Iajuddin Ahmed's parleys with the feuding parties failed to break the deadlock. Security was tight in the capital, traffic was thin and most shops, schools and private offices remained closed or worked with skeletal staff on Sunday, a working day in Bangladesh. Riot police and paramilitary troops fanned out across the city, as fears of violence loomed large. Ahmed, who is also the caretaker chief, was closeted with his 10 advisors at the presidential palace today after last night's parleys with the country's two main alliances. Emerging after midnight from the nearly three-hour meeting, which was also attended by former Prime Minister Wajed, the coordinator of 14-party alliance, Abdul Jalil, told reporters that they reiterated their demands in front of the President and that the blockade will continue till they get a positive response.

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AFX NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT

2006-11-27T02:42:00.000-08:00

TOKYO (XFN-ASIA) - Mizuho Financial Group Inc will issue a yet-to-be-decided amount of preferred subscription securities early next year, in a bid to improve the quality of its capital, the banking group said. 2006-11-27 04:35:58 China's weaker banks to get capital injections, other state help - report HONG KONG (XFN-ASIA) - China is to continue trying to improve the financial health of its weaker unlisted banks using a series of tools including capital injections from the central government as well as local-government financial support to prepare them for initial public offerings (IPOs), the Wall Street Journal reported, citing a senior banking regulator. .

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