Summit Notebook

Exclusive outtakes from industry leaders

Geneva is for wealth management

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Even for an American who’s not wealthy, Geneva has a reputation as a global centre for wealth management – the place the world’s rich come to stash their money and (they hope) make it grow.

    But you don’t necessarily expect it to be so aggressive — after all, the rich tend to be demure when it comes to their banking.

    Imagine one reporter’s surprise, then, on arriving in the airport in Geneva and seeing bank ads everywhere. Think of the casino adds in Las Vegas’s McCarron Airport or the technology ads in San Jose’s Mineta Airport: it’s the exactly the same in Geneva, only with wealth managers.

    Look left – there’s UBS. Look right – there’s Julius Baer. Look up in the baggage queue – there’s a Swiss bank that emphasises a focus on the Arab world. A complete unscientific guesstimate suggests the display ads in the terminal run about 75 percent wealth management and 25 percent fine watches. (No surprise that every other storefront in the Ville Centre area of Geneva has watches on offer.)

Audio – For best M&A results? Don’t forget the fish and the booze!

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There is an entire industry out there about what to do to make a merger a success. Many of us know bankers or lawyers who work for weeks and hours on end just to make sure their deals are perfectly done with all the t’s crossed and the i’s dotted.

Millions of dollars are spent on just teaching people the best way to get a transaction from idea to completion.

AUDIO – What’s going on with the economy? Ask a trucker.

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That was the advice from truck manufacturer Navistar International Corp’s CEO Dan Ustian at this week’s Reuters Manufacturing and Transportation Summit in Chicago.

Ustian said the current slowdown has been worse and deeper than expected — even though the trucking industry had a sense that things were starting to go south as far back as 2007.

from Ruben Ramirez:

And we’re off…

The Manufacturing and Transportation Summit in Chicago kicks off our 2009 global coverage of Reuters Summits. Over the next 41 weeks we'll bring you exclusive interviews from around the world with corporate executives, government leaders and others who can give us key insights into what's ahead for their industries. First off, to get us ready for a more in-depth look at the manufacturing industry we spent a day last week in Rock Hill, SC home to two of Terex's (TEX.N) manufacturing operations. Rock Hill is located just about 20 minutes south of Charlotte, NC. Terex Hydra Platforms manufactures a product that looks like something out of the movie Transfomers. Check out the story:

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