What was making the financial headlines one, five and 10 years ago?
One year ago…
The Parliamentary Banking Commission on Banking Standards published a report that called for a separation of retail and investment banking. EFG Eurobank Ergasias and Piraeus Bank, two of Greece’s largest lenders, revealed a џ13 billion-plus capital shortfall, and an Italian court convicted UBS, Deutsche Bank, JP Morgan Chase and Hypo Real Estate-owned Depfa Bank of fraud in derivatives sale case.
Five years ago…
UK Financial Investments, the body charged with managing the UK Government’s stakes in ailing banks, recruited Tim Sykes a a senior banks analyst at agency broker Execution. The UK government also announced its intention to hire senior women for the boards of the country’s state-backed banks to overhaul their “old boys club” culture. And Lew Sanders, the chief executive of AllianceBernstein, a US asset management group that runs money for some of Europe’s biggest pension funds, announced his retirement.
Ten years ago…
Archie Norman, the former chief executive of Asda, the UK supermarket, joined Lazard as a senior adviser. Amaranth, one of the largest US hedge funds, was preparing to expand into Europe for the first time with plans for offices in London and more investments in European securities. And Markit, the independent credit and credit derivatives data provider, bought LoanX, the New York-based loan trading and pricing platform for equity.
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