Hello everyone,
An Headlink-Partners selection of articles (in English and in French) from last week on Capital Markets, Asset Management and more.
Enjoy!
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Capital Market
- US Investment Banks are making a come-back (ECB, BoJ or BoE QEs seem to be profitable for US banks…)
- Brexit: more than 1800 British institutions likely to settle down in France (very good analysis from Duhamel Blimbaum showing how a French authorities are easing the tranfer of activities from UK to France)
- How one Goldman Sachs trader made more than $100 Million (with huge bets on junk bonds. Back to 80s)
- Deutsche Bank options to solve capital dilemma seen to be limited (shareholders should be reluctant to give money to solve past sins and there are not that much assets to sell)
Asset Management and Private banking
- Brexit: access to single market crucial for Britain’s big fund managers (up to 20% of assets at stake in case of hard Brexit)
- BlackRock’s revenue dips as active investment weaknens
- What does Nevada’s $35 Billion Fund Manager do all day? Nothing (once again, the best strategy is often the simplest one. One great illustration of the rise of passive investment)
- La clientèle patrimoniale encourage les services digitaux mais se méfient des robots advisors (encore une fois, l’épargne est un produit vendu, le contact et la proactivité d’un conseiller restent clés)
Digital and Fintechs
- ING takes Fintech startup route to UK relaunch (launch of an accounts’ aggregator. Interesting move to get data and then propose an online banking offer?)
- Facebook to add buy buttons in its app (is Facebook becoming a one-stop shop?)
- The bank of the future will be invisible (makes a lot of sense, it also reminds me the transparent interfaces)
Management
Regulation
- L’élargissement de la Taxe sur les Transactions Financières aux transactions intraday, une balle dans le pied pour la place de Paris ?
- « Schroders: PRIIPs uncertainty is costing us money »
- The European Commission will not debate PRIIPs delay before November 22nd (This whole PRIIPs thing is really becoming a joke)
- PRIIPS Timeline: European Commission to adopt a revised RTS in February 2017 and considering deferral of Level 1 by 6, 9 or 12 months thanks to a quick fix (see from 10:25)