A journalist covering the U.S. regulatory scene, Neil Roland from MLex, recently pointed me to a speech by Federal Reserve Bank of New York President, William Dudley, in which Dudley waxed eloquent on the idea of regulators having a hand in managing bank executives' incentive compensation. Dudley's advice:
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Despite rumors and suggestions of market consolidation in the U.K. wealth management sector, private equity firms, often eager buyers in other industries, have never really gotten their teeth into buying wealth management firms, at least not outside of the United States. A smattering of deals has occurred, but never the wave some predicted around this attractive business segment. In a sign that things may have changed, however, last week saw European private equity house Permira acquire U.K. wealth manager and online investment services firm Bestinvest. This deal for the firm (which has GBP 5 billion in assets under management) is the third major private equity investment in a marquee U.K. wealth management business.
EuroFinance is always one of my preferred conferences, given the quality of the meetings and the content shared. It was very well attended this year, and the numerous conversations I had concentrated on three major areas: (1) corporate treasurers and their use of treasury management systems, (2) the continually evolving landscape of supply chain finance, and (3) SEPA, and what will happen after the February 2014 deadline.
The changing collateral environment appears to be an increasingly divisive topic as we see further regulation coming into the post-trade space, with many market players still uncertain as to just how they are going to tackle the growing requirement for collateral. The debate continued at the Mondo Visione post-trade event last week as both panelists and audience members engaged in a lively encounter, discussing the reality of a supposed "collateral shortage," innovative methods to overcoming such a shortage, and the various shapes of collateral segregation accounts.