| Dublin debt players see opportunity in credit storm |
Issue: 08 / 2007 |
| The current turmoil in the global credit markets sparked by defaults in the US sub-prime market is creating opportunity for Dublin based credit investors, who cite the tumult as being a 'healthy correction', while there has been no fall-off in debt products looking to list on the Irish Stock Exchange. They say the recent sell-off in products such as CLOs and leveraged loans is now 'over-done', and with overall fundamentals in the market remaining strong, they are preparing for a busy Q4.. |
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| Dublin’s new ‘law quarter’ expands |
Issue: 08 / 2007 |
| Another law firm, BCM Hanby Wallace, is set to move its operations to Dublin’s south docklands. The area already houses a number of large corporate law firms and is fast becoming the legal district of the financial services industry. |
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| EDITORIAL |
Issue: 08 / 2007 |
| Comment from the editor |
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| FSA maintains industry focus with new appointment |
Issue: 08 / 2007 |
| The appointment of Hector Sants as the new CEO of the UK’s Financial Services Authority (FSA) indicates the regulatory body’s on-going commitment to hiring staff with extensive industry experience. Should we expect a similar ethos at the Financial Regulator? |
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| Green paper or amber light for pensions? |
Issue: 08 / 2007 |
| With the Government’s Green Paper on pensions due to be published in September, the Irish Association of Pension Funds (IAPF) is holding a conference on October 2nd to discuss the issues arising from the paper. |
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| Individual retirement accounts are less efficient than state pensions - Government needs to reassess its strategy |
Issue: 08 / 2007 |
| The Pension Board’s latest report on mandatory pensions recommends an increase to the current system of state pensions plus individual retirement accounts. Shane Whelan, however, writes that some of the figures in the report are ‘blasphemous’, and argues that the higher administration charges associated with moving to individual retirement accounts will ultimately reduce a pension by about 20 per cent. Instead, he recommends that the Government uses the current state pension system as a starting point, which ‘enjoys near optimal economies of scale and the efficiencies of simplicity’ and restructures it along the lines of a financial contract. |
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| Ireland flies high as aviation finance centre |
Issue: 08 / 2007 |
| Ireland emerged as a centre for aviation in the 1980s on the back of the GPA phenomenon. Today, the industry continues to go from strength to strength, buoyed by a global boom, and P?draig Rushe writes that it is no surprise to find the top three aviation lessors present in Ireland. However, he warns that to maintain and grow this business further, the tax environment must remain competitive, and skill sets must be appropriate to support industry developments and growth. |
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| Irish firms gear up for European expansion |
Issue: 08 / 2007 |
| The introduction of the Markets in Financial Instruments Directive (MiFID) on November 1st will present Irish spread-betting firms with a massive opportunity to significantly grow their businesses. |
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| Market volatility boosts CFD sales |
Issue: 08 / 2007 |
| Sales in contracts for difference (CFD) products, as well as the volume of financial spread bets placed, have soared over the past month, as investors look to make money out of falling markets. |
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| Merrill Lynch leaps into top 1000 |
Issue: 08 / 2007 |
| Merrill Lynch is one of three IFSC banks on The Banker magazine’s top 1000 world banks, alongside Depfa Bank and WGZ-Bank Ireland, on a list which also includes the main Irish domestic banks. |
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| Merrion expands its funds offerings |
Issue: 08 / 2007 |
| Merrion establishes itself as a fund manager. |
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| New firm aiming for €2 bn in AUM |
Issue: 08 / 2007 |
| GlobalReach Securities, a new Irish investment and asset management company, is planning to increase its assets under management from its current total of €550 million to €2 billion in the next six to nine months, following its recent launch. |
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| New VAT on property regime - will it impact the market? |
Issue: 08 / 2007 |
| The Revenue's Pro-Forma text, published in March, clarifies detail around the proposed new system of VAT on Property. Whilst some aspects of the proposals are positive, there are also practical concerns which need to be addressed to avoid adverse market implications. The recent announcement of some 'grandfathering' provisions is welcome however. |
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| Outsourcing is changing the shared services environment - Irish operations need to adapt if they are to survive |
Issue: 08 / 2007 |
| Shared services operations in Ireland must realign themselves if they are to continue to play important roles, as companies consider the benfits of outsourcing, according to the Deloitte global shared services survey. Shane Mohan outlines the major findings of this study. |
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| Over 25 p.c. of Irish firms seek growth via M&As |
Issue: 08 / 2007 |
| Fee income per partner is up by over 15 per cent in over a quarter of Irish law firms in 2006, and over a quarter of Irish law firms expect their company to expand via a merger or acquisition, are some of the key statistics arising out of PricewaterhouseCoopers’ Irish Law Firm Survey 2007. Billy O’Riordan looks at the survey and examines the problems of managing growth, controlling costs, managing working capital and rewarding and developing talent. |
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