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
- La tendance au Shadow Banking s’accélère, pour le meilleur et pour le pire (le Shadow Banking représente 60% du PIB mondial. Gare au risque systémique)
- Crédit Suisse just aced Goldman Sachs in Asia but there are issues (Crédit Suisse cost to income remains dramatically high)
- Chaos at Crédit Suisse as trader hired in August let go in October (good illustration of poor performances in Crédit Suisse Equity business in Europe)
- The chart telling you to become a FI trader in a French Bank (BNPP & Société Générale did very well last quarter on FI trading)
- LCH targets non-cleared market with radical new platform named SwapAgent (Billateral trades to be valued and margined using LCH Swap curves, nice move indeed)
- A Paris, l’opération séduction pour attirer les déçus du Brexit a commencé
Asset Management and Private banking
- Vanguard, the unlikely savior of Active Management (« The whole story of the big sea change underway isn’t necessarily from mutual funds to exchange-traded funds or active to passive or human to robo-advisor — it’s really about high-cost to low-cost »)
- Top asset managers bleed $50 Billion as Industry crisis deepens (Active Managers face a doom and gloom future)
- Deutsche Bank reviewing Asset Management business (An audit is ongoing, will DB sell this unit?)
- Pioneer investments for sale once again (Amundi is in good position to buy the company but the price is quite high > €3Bn)
- Fund Industry assets fall for first time in 5 years
Digital and Fintechs
- La CDC teste la blockchain pour la gestion de collatéral (le consortium LaBChain lance un test sur le prêt/emprunt avec garantie en titres. Un vrai potentiel d’efficacité opérationnelle sur un processus complexe)
- La Blockchain expérimentée par la Banque du Canada