Global Finance names Commerzbank one of “The Innovators” 2015

Global Finance magazine has announced “The Innovators 2015 – Transactions Services”. This is the publication’s third annual listing of global financial institutions and firms that are engendering innovation in treasury and transaction processing.

Commerzbank was deemed an Innovator for its approach to sustainable trade – Commerzbank takes the view that banks are responsible for deciding who to finance and have to accept there are transactions that cannot be touched, even if that is to the detriment of their balance sheets in the immediate future. As such, the bank assesses the sustainability of every single transaction it receives against a strict set of criteria. Not only is Commerzbank a pioneer in its approach, but also as a thought leader, having released a forward-looking report titled “Five Drivers of Sustainable Trade: Understanding the Magnitude of Change ” in March 2015 to drive change among competitors in order that this approach is adopted universally.

To read more about the award nominations please click here

Commerzbank Executive Perspective for Thomson Reuters Sustainability

Portrait Rüdiger Senft im März 2015Following the release of Commerzbank’s Sustainable Trade report last month, which found that the banking sector probably has more impact on the uptake of sustainable business practices and strategies than most other sectors, Rüdiger Senft, Head of Corporate Responsibility at Commerzbank, writes for Thomson Reuters on the key role that banks have to play in driving forward sustainable trade.

To read the full Executive Perspective please click here

S&P says QE has few benefits for pension schemes

PW photoAs economic developments in Europe are causing funding conditions of corporate defined benefit (DB) pension plans to deteriorate, senior director and head of corporate research for Standard & Poor’s, Paul Watters, writes for FTSE Global Markets about the less-than-expected impact of the European Central Bank’s (ECB) Quantitate Easing (QE) program. Furthermore, he goes on to say that there is even a risk that QE will achieve nothing more than promoting stagflation in the euro area, and with inflation rising we could see a bad situation made even worse.

 To read the full article, please click here and turn to p19.

S&P tells TMI that Germany’s Mittelstand seek alternative funding sources

Dr Mark Währisch

Dr Mark Währisch

In the latest edition of TMI’s magazine, Standard & Poor’s Mark Währisch, Alexandra Krief and Claire Mauduit-Le Clercq reveal that slow banking disintermediation in Germany has not deterred the country’s famously robust mid-market, or Mittelstand, from seeking alternative funding sources to finance growth, including the well-established US private placement (USPP) market and the German Schuldschein market. Somewhat shielded from the current difficult economic conditions by their focus on exports, Germany’s mid-market firms still suffer from limited transparency – an obstacle to overcome going forward.

To read the full article, please click here.

Daniel Schmand discusses the EU’s 4th AML Directive in Financial News

Daniel Schmand‘Hunting terrorists and crime gangs’ reads the headline for an article that takes an in-depth look at how trade finance units are enlisted to fight money laundering.

Daniel Schmand, Head of Trade Finance & Cash Management Corporates EMEA, Deutsche Bank spoke to Financial News about what the new regulation would mean for banks – and for intra-EU trade.

To read the full article, please click here (please note that this article is behind a pay wall).

Natixis’ Artus proclaims expansionary monetary policy as the bête noire of Europe’s economy

In a recent IFR article, Natixis’ Chief Economist Patrick Artus argues that despite QE being hailed as a panacea for economic health, it is only for the benefit of the financial markets. Indeed, it is because of bond holders – such as institutional investors and banks – that monetary policies will remain expansionary for a long time, despite the little aid it will provide for Europe’s inflationary issues or its low growth.

Serving to benefit the region’s bondholders, a loosening in monetary policy would lead to a rise in interest rates would lead to massive capital losses for the bondholders – a result the central banks cannot accept. As in Japan, the ECB must therefore conduct monetary policies that keep long-term interest rates low to avoid a financial crisis unravelling, even if it provides little benefit to Europe’s overall economy.

Certainly, expansionary monetary policy could prove to be the bête noire of Europe’s economy.

To read the whole article, please click here.

Moorgate Manchester opens for business

AnnaManchesterMoorgate has opened a Manchester office – located in the city’s banking district at 76 King Street. The office will be run by Anna Sharrock (pictured on the office’s swanky roof terrace) and will serve both our existing clients and, hopefully, new clients – especially those focused on selling financial services to UK SMEs. Telephone number to follow (BT allowing!) – otherwise contact Anna on anna.sharrock@moorgategroup.com

 

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