Summit Notebook

Audio-Noor chief says Islamic banks now part of global banking system

February 5, 2008

72dpi.jpgHussain al-Qemzi, Noor Islamic Bank chief executive, tells Reuters Islamic Finance summit that Islamic banks are now part and parcel of the global banking industry. Qemzi is seeking to expand his United Arab Emirates-based bank to become the world’s largest Islamic bank in five years. 

Audio-Muslim banker calls for more innovation in Islamic finance

February 4, 2008

mumtaz.JPG Asif Mumtaz, regional head of HSBC’s Islamic finance arm HSBC Amanah, called for more innovation to move Islamic banking further towards the industry’s mainstream. Mumtaz told a Reuters Islamic Finance summit in Dubai that there remained plenty to do in the areas of regulation and human development.

Dunkin punches hole in Sovereign CEO’s story

November 9, 2007

campanelli1.jpgSovereign Bancorp apparently got some angry phone calls on Wednesday after its CEO told the Reuters Finance Summit that the thrift was in talks with Dunkin’ Donuts to put its ATM machines in some of its franchises.

Is a Reuters Summit cancellation a sell signal?

November 8, 2007

ackermann.jpgSudden cancellations of speaking engagements by CEOs can often raise red or other kinds of flags for investors. In the good times it may mean there is a big deal in the offing, perhaps even a takeover of the company. In the bad times, it may mean that the executive is about to be canned. Last week’s decision by Chuck Prince to cancel a speech he was due to give to the U.S.-Japan Business Conference on Sunday was seen by many as additional confirmation that he was on the way out as Citigroup’s CEO.

S&P analyst Azarchs says ‘things seem to be heading the wrong way’

November 8, 2007

azarchs1.jpgTanya Azarchs, managing director at Standard & Poor’s Financial Services Group, is mostly sanguine on U.S. banks and brokers from a credit standpoint. She told the Reuters Finance Summit that their ratings are expected to hold at current levels through the worsening downturn in the credit cycle.

Sovereign CEO says ‘you have to earn the right to be an acquirer’

November 7, 2007

campanelli.jpgSovereign Bancorp CEO Joseph Campanelli says he’s in no hurry to follow in the footsteps of his predecessor Jay Sidhu, who transformed what was once a $400 million Pennsylvania thrift into a regional bank with $82 billion in assets and branches stretching from Maryland to Boston. Sidhu’s acquisition binge did little for the bank’s share price and he was forced to resign in October 2006.

Are biz-school and college grads’ pain Houlihan Lokey’s gain?

November 6, 2007

werbalowsky.jpgJeffrey Werbalowsky, co-CEO of middle market investment bank Houlihan Lokey Howard & Zukin, admits to indulging in a touch of schadenfreude at the recent woes of his much larger rivals who coined money during the M&A boom. But the gains from the credit crunch for Houlihan are more than psychological.

BONY CEO says fear ahead of greed right now

November 6, 2007

kelly.jpgBank of New York Mellon CEO Robert Kelly is guardedly optimistic about the credit crunch which big banks like Citigroup and Merrill Lynch have been struggling with in recent weeks. But he admits that the markets are going through a tense moment.

Thomson says Money Honey a “rock star”, his ties appropriate

November 6, 2007

thomson1.jpgmariabartiromo.jpgTodd Thomson, the former CFO and head of wealth management at Citigroup, said his relationship with the Money Honey?, CNBCs news anchor Maria Bartiromo, was not only entirely appropriate but had been a terrific asset? to his business at Citi.

Goldfish and the Art of Wealth Management

November 6, 2007

thomson1.jpgWhen Todd Thomson, Citigroup‘s former head of wealth management, lost his job earlier this year, there were reports that he was being punished for lavish spending. Offered as evidence by his detractors was an office — which some wags dubbed the Todd Mahal — reportedly featuring a wood-burning fireplace and a fishtank.