| A Day in the Life: investment director |
Issue: 07 / 2004 |
| As investment director, Ireland, a key function of Jennifer Richards role is increasing Standard Life Investments’ local presence, as well as supporting Standard Life Assurance Company. |
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| Another first for Depfa |
Issue: 07 / 2004 |
| DEPFA BANK p.l.c. achieved another market first with the issue by it of Ireland's first listed extendible bond at the end of May. The $1.5 billion issue of extendible liquidity securities was lead managed by Morgan Stanley, with Morgan Stanley and DEPFA BANK acting as co-selling agents. McCann FitzGerald was the Irish legal advisor. |
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| Basel II finalised at last |
Issue: 07 / 2004 |
| After years of discussion and consultation, the Basel II process came to an end on June 26th, when the Bank for International Settlements (BIS) published the final version of the capital adequacy framework. Entitled ‘International Convergence of Capital Measurement and Capital Standards: a Revised Framework’, the Accord marks the first significant overhaul of the capital structure of banks since the 1988 Basel Capital Accord. |
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| Business continuity plans post 9/11 |
Issue: 07 / 2004 |
| The tragedy of 9/11 demonstrated the vulnerabilities in the global financial system Karen McEntegart writes. She says that comparable vulnerabilities may exist in the Irish financial services industry, and urges companies to prepare adequate business continuity programmes. |
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| Corporate finance: IPO v trade sale - the pros and cons |
Issue: 07 / 2004 |
| While the upfront costs for going public can be prohibitive, with the transaction costs of the two most recent additions on the Irish Stock Exchange, eircom and C&C, estimated at €47 million and €19 million respectively, there are also many advantages, and research indicates that the valuation achievable at IPO exceeds that of a trade sale by 22 per cent, writes Philip Kearney. |
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| EBS brings €500m issue to market |
Issue: 07 / 2004 |
| Second issue under the Society’s EMTN programme launched. |
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| EBS’ funding and the road of diversification |
Issue: 07 / 2004 |
| EBS Builiding Society has just completed a successful €500 million senior debt issue, under its European medium-term note (EMTN) programme. Jackie Gilroy tells us how it fits in with EBS' funding strategy, which also includes the Emerald RMBS programme, and a €2 billion commercial paper programme. |
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| Financial reporting environment for insurers, reinsurers and banks, has never been more challenging |
Issue: 07 / 2004 |
| Dargan Fitzgerald and Kieran Kelly give an overview of developments at a recent seminar on financial reporting for international banks, international insurance and reinsurance companies, and other financial institutions. |
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| First corporate securitisation on the horizon |
Issue: 07 / 2004 |
| Jefferson Smurfit, the Irish paper and packaging company, told FINANCE that it is currently considering an asset securitisation, in what would be the first corporate securitisation by an Irish company. |
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| Fixed income: The internationalisation of the Irish bond market continues |
Issue: 07 / 2004 |
| In 1998 overseas investors owned just €7 billion, or 22 per cent of the Irish government bond market. However, international investors tripled their holdings of Irish gilts over the next five years, driven by, amongst other factors, the generous yield pick-up Irish bonds offered over the so-called core eurozone markets such as Germany and France, and held almost €21 billion at the end of 2003, Oliver Mangan writes. |
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| FSAP II is set to begin |
Issue: 07 / 2004 |
| The European Commission has outlined its priorities for the next stage of financial services integration. With 93 per cent of the original 42 measures under the Financial Services Action Plan (FSAP) now under implementation, Irish companies should be aware that the Commission’s future priorities include the rapid adoption by the Parliament and Council of the 8th Company Law Directive on Statutory Audit, and of forthcoming Commission proposals for a Third Money Laundering Directive and for a Directive on Capital Adequacy. |
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| Green’s €710 million loan closes |
Issue: 07 / 2004 |
| In the past number of weeks, Green Property’s €710 million loan has been fully syndicated, and the funds will be used to pay down its remaining management buyout (MBO) debt. |
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| Growth in funds recruitment |
Issue: 07 / 2004 |
| Several of Dublin’s leading fund servicing companies, including State Street, Fortis, International Fund Services (IFS) and Bank of Bermuda, are actively recruiting for positions in administration, fund accounting, client support, relationship management, investor servicing, financial reporting, alternatives, custody and transfer agency. |
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| Guest is new head of ABN AMRO |
Issue: 07 / 2004 |
| David Guest has been appointed ABN AMRO country representative and country coverage head for Ireland, assuming the role rom Tom McAleese, who left the bank earlier this year to take up the position of country manager and managing director, Ireland, for Barclays Bank plc. Anne Gleeson, former chief operating officer at ABN AMRO IFSC, is to step into Guest’s old role as managing director. |
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| IFRS and Tax |
Issue: 07 / 2004 |
| Many groups are facing mandatory changes to the basis of accounting as the EU enforces international accounting standards. There is discussion at present as to the implications of such standards for taxation liabilities of companies. Those implications may be more limited in scope than might be expected. |
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