What was making the Financial News headlines one, five and 10 years ago?
One year ago…
Bank of England governor-in-waiting Mark Carney exuded charm and authority, and a willingness to be flexible when it comes to monetary policy in his first appearance before the UK’s Treasury Committee. Credit Suisse chief executive Brady Dougan was lamenting the fact that Basel regulations had created an “unfair playing field” between US and European banks, and John Hourican, chief executive of Royal Bank of Scotland’s markets and international banking division, was to leave the bank in the wake of its settlement with various regulators over investigations into submissions, communications and procedures around the setting of the Libor rate.
Five years ago…
Switzerland’s stock exchange named Goldman Sachs’ head of equities for the country, Christian Katz, as its chief executive. As well as leading SIX Swiss exchange, Katz was to join the board of parent company SIX Group. Katz remains with the Swiss group five years on. Meanwhile, the Depository Trust & Clearing Corporation and interdealer broker Icap were both running the slide rule over a bid for LCH.Clearnet. In the end, it was the London Stock Exchange that acquired a majority stake in the UK clearer, although that was not until last year.
Ten years ago…
European buyout firms including Candover and HG Capital were looking for junior staff who had trained at investment banks to fill their ranks amid a surge in deal activity. Fast forward a decade, and following a period of mass job-cutting, investment banks themselves are back on the hiring trail, with associate-level staff from accounting firms in their sights as they attempt to replenish their ranks of staff to do the leg work on deals at a time when activity has rebounded in Europe. Vodafone, meanwhile, was exploring a bid for AT&T’s wireless unit, before withdrawing from the auction. Last month, AT&T scotched speculation of a bid for Vodafone.
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