Abstracts » Retail industry

Crash!

Article Abstract:

The near-collapse of hedge fund Long-Term Capital Management, which had to be bailed out by the US government, has served to highlight the negative aspects of investment banking culture. In this culture, victory is paramount, with coming second simply not being good enough. There is a strong sense of optimism, but this can sometimes become arrogance. Long-Term Capital Management's so-called experts failed to acknowledge that their approach was misguided, and the fund thus simply accumulated debt until nobody would lend to it any more.

Hedge funds, Long-Term Capital Management L.P.

---

Chief executive at NatWest Markets ousted

Article Abstract:

The removal of NatWest Markets Chief Executive Martin Owen has cast a shadow over the future of investment banking work at National Westminster Bank PLC. This development follows an earlier announcement that National Westminster is holding merger talks with Abbey National, a move which would place NatWest Markets further on the periphery within a larger operation. NatWest has come under strong pressure from institutional investors to produce better returns from investment banking.

Appointments, resignations and dismissals, National Westminster Bank PLC (London, England), NatWest Markets, Owen, Martin

---

Some parts © 2012 Advameg, Inc.