Brian Bollen's Blog

NT expands TM team

Northern Trust has this week expanded its transition management team with another key hire, appointing Mike Mahoney as a transition manager for Europe, Middle East and Africa (EMEA).

From tomorrow the C-word is OK

Today, November 30, is St Andrew's Day. Amongst other longstanding gigs, St Andrew is the patron saint of Scotland.

St Andrew's Day is the landmark day in this writer's autumn/winter calendar (September weekend, Hallowe'en, Guy Fawkes Night/Bonfire Night, younger daughter's birth anniversary and then St Andrew's Day) after which it becomes permissible to begin thinking and talking about Christmas, December 1 being the first day of Advent, the official run-up in the Christian churches to the day itself.

 

RegTech spend hitting US$20bn

Fixed income dealers are spending as much as $20bn a year on RegTech (regulatory technology) to help them comply with the raft of regulations covering their trading desks, according to a new report from Greenwich Associates.

Two to dodge

Mint - Blain’s Morning Porridge

If Charlie wants to tangle now they’ll have two to dodge….

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

€50bn or thereabouts for the Brexit Bill? While some folk say Nigel Farage and Boris Johnston should cover it personally, over 40 years it’s a rounding error on the national accounts. So can we please get over it, kiss and make up and get on with real stuff? Now we just need to solve the Irish border problem… wait a few years and it will solve itself one way or another…

More snow in Wengen

Wengen has had another bumper dump of snow overnight, it seems: https://www.downhillonly.com/live-cameras-and-weather/

And it looks like it could be snowing on the Mannlichen above the town: http://www.swisspanorama.com/html/maennlichencam1.html

I don't ski myself as it's far too dangerous for a freelance, but it's clear that those who do must be getting excited about the prospects for the season ahead which starts in earnest on December 16.

BNP Paribas Asset Management appoints Philip Dawes Head of UK Institutional Sales

BNP Paribas Asset Management (BNPP AM) announces the appointment of Philip Dawes as head of institutional sales for the UK & Ireland. He joined on 20 November and is based in London, reporting to Charles Janssen, head of institutional sales for Europe.

 

HVPE looks to the future

HarbourVest Global Private Equity Limited (HVPE), a closed-end investment company, today presents its 10:10 Global Investment “Megatrends” survey, which shares insights on the big trends in private markets over the next 10 years and explains how the company is accessing these for investors.

It says that in the next decade, the key megatrends to watch are:

Godless on Netflix

Finished watching Godless on Netflix last night. An exceptionally good piece of television, and the best western I have ever seen. I recommend it highly. Extremely highly.

Early snowfalls in Wengen

Snow has fallen early and heavily in Wengen and the surrounding area. See https://www.downhillonly.com/live-cameras-and-weather/ and http://www.swisspanorama.com/html/maennlichencam1.html

The ski season starts partially this coming weekend (December 2/3) and fully from December 16 (closing April 2 2018).

Stop Press: Two Young(ish) People Are To Marry

Heavens to Betsy. I found myself nearly retching as I listened to The World At One regale us with the news that two young(ish) people are to get married.

This republican will say no more of it other than that if in this era of relentless public austerity, a single penny of public money is spent on the farce, it is a kick in the teeth for the long-suffering inhabitants of the United Kingdom of Great Britain and Northern Ireland.

Excuse me while I take time out to boak some more...incidentally, after a decade of supposed austerity, official figures show that total central and local government spending in the UK is calculated as £1,962.9bn. The corresponding figure in 2007 was £1,405.8bn. I calculate roughly that that represents an INCREASE of around 40%.

Bear that in mind the next time you hear about cuts in government spending and austerity...

El castillo, la torre yo soy, la espada que guarda el caudal...

Mint - Blain’s Morning Porridge

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

Going to be short comment this morning. Yet again my Monday morning train back to the London smoke was massively delayed by “signalling problems” and congestion. WTF! They spent the summer rebuilding Waterloo and it just doesn’t work. Did they have signalling problems like this in the 1920s when the number of trains was greater? Apparently not…

The state of Scottish football

That the French football champions can beat the Scottish champions 5-0 (away) and 7-1 (at home) puts the quality of Scottish football firmly in perspective. I've been saying for years that Scottish football is rubbish, but didn't realise just how bad the situation actually is. Worst of all, I don't see any potential for improvement.

BNP Paribas Securities Services reinforces agency lending

BNP Paribas Securities Services has today announced a number of senior appointments to its agency lending team. Adnan Hussain is appointed global head of agency lending and head of market and financing services (MFS) in the UK. Hussain has over 15 years’ experience in the development, execution and management of product strategy and sales campaigns.

ifo Business Climate Index continues record run

While Germany's politicians struggle to reach agreement on a working coalition government, the country's economy continues to purr along smoothly. Sentiment among German businesses is very strong, according to the most recent figures presented this morning by Clemens Fuest, president of the ifo Institute.

Godless take two...

I mixed up my Godless and OITNB postings. I watched the first two episodes of Godless, a new western series, on Netflix last night.

It has clearly had money and time and care lavished on it and it makes Sam Peckinpah's The Wild Bunch look like Andy Pandy.

BNPPSS appoints new HK head

BNP Paribas reports the appointment of Julien Kasparian as head of BNP Paribas Securities Services in Hong Kong (see www.brianbollen.com). 

Kasparian will lead the Hong Kong team, with a focus on deepening relationships with new and existing clients, and will be responsible for delivering best-in-class operations and services. 

A world of fears...and Malbec rules

Mint - Blain’s Morning Porridge

It’s a world of laughter, a world of tears. It’s a world of hopes and a world of fears..

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary freely available to all qualified investors on an unsolicited basis. It is not investment advice…

It’s a US holiday and markets will be thin through today. To show my solidarity with our American cousins, I’m off for a proper lunch with clients in the West End and Malbec rules* will probably apply.

What happened in China this morning? Stocks down sharply (the steepest decline this year), on the back of rising inflation worries. Dong! – that strikes a chord. It seems yesterday’s Porridge – dealing with the threat of an inflation shock – was perfectly timed. Suddenly everyone is waking up to the I-threat. 

Charles Manson and Butlins

I will forever associate the name of Charles Manson with Butlins holiday camp at Heads of Ayr on the west coast of Scotland.

I remember reading about the Tate murder in the Daily Express (still very much a broadsheet in those days), sitting in one of the camp's gardens, aged 12 and absolutely horrified. It must have been an August morning as we tried to time our occasional visits to the camp in the first two weeks of that month, the nearest that Scotland comes to summer.

Memo to the BBC

Memo to the BBC journalist currently broadcasting live from Westminster about the EU Withdrawal Bill.

The phrase you are looking for is not 'slight of hand', it is 'sleight of hand'.

Too saucy with the gods

Mint - Blain’s Morning Porridge

Either there is a civil strife in heaven, or else the World, too saucy with the gods, incenses them to send destruction.…

For the avoidance of doubt – the Morning Porridge is unrestricted market commentary, it is not investment advice…

As yet, I have not been confronted by a ravenous lion strolling around Canary Wharf, nor have I heard an owl hoot at midday, but there are many strange and scary portents in the skies, signalling at last things are happening to roil the markets….. (sadly, what promised to be a fantastic sight of the Venus/Jupiter conjunction was compromised by clouds this morning..)