Hints and tips:
...Cooley has named Rachel Proffitt as its first-ever female CEO, succeeding Joe Conroy, who will continue as chair....
...My FT colleague Taylor Nicole Rogers guest hosts, and interviews Amy Gallo, author of Getting Along: How to Work with Anyone, Even Difficult People....
...He says Mr Serra has also been entrepreneurial in recognising that Mr Gallo could make the transition from research to the very testing environment of macro fund management....
...“Both MPS and other Italian banks need more consolidation; Italy still has more bank branches than pizzerias,” Mr Gallo added....
...Alberto Gallo, portfolio manager at London-based Algebris, says Italy’s €20bn intervention — and the acknowledgment of the bad loan problem — could be a positive for big banks such as UniCredit and Intesa...
...“Any aid or injection of capital should come with a restructuring of the system,” says Alberto Gallo of Algebris Investments....
...Alberto Gallo, head of global macro strategies at hedge fund Algebris, has said the sector is paying the price for decades of weak regulation and governance....
...“If you do privatisations without doing reform first, the valuation at which you sell is going to be lower as investors have less confidence in the long-term growth of the economy,” says Alberto Gallo, head...
...Alberto Gallo, senior credit analyst at Royal Bank of Scotland, expressed a common view among investors that the appointments represented welcome change while, at the same time, guaranteeing some continuity...
...Alberto Gallo, credit analyst at RBS, says: “Italy is approaching a much needed spring cleaning . . . in parliament . . . and across the banking system.”...
...Mr Gallo at RBS admits that “reform is not simple in Italy, with intricate cross-shareholdings and shared directorships complicating efforts.”...
...Alberto Gallo, credit analyst at RBS, said Italy’s mid-tier banks “suffer from chronically low profitability, low capital levels and weak asset quality”....
...“Without a bad bank and a resolution regime you are giving a free lunch to junior bondholders of weak banks, without solving their long-term issues” Mr Gallo says....
...Alberto Gallo, senior credit analyst at RBS, considers Italy’s midsized banks to be among the most exposed in Europe....
...“Investors want things that have exposure to a recovery,” says Mr Gallo. “But banks are muddling through.”...
...“ABS channel investors’ ‘hunt for yield’ into loans to the real economy – that is the missing link in the chain,” says Alberto Gallo, strategist at Royal Bank of Scotland....
...The classical presence left the area rich in archeological remains, and the first seed of the Fondation Pierre Gianadda was sown when its creator, Léonard Gianadda, discovered the ruins of a Gallo-Roman...
...Alberto Gallo, a credit analyst at RBS, believes Monte Paschi may require additional capital in the future as a result. Political instability is also a concern....
...“In addition, it is very exposed to Italy’s sovereign volatility, holding more than 10 per cent of its asset in sovereign bonds,” Mr Gallo said....
...Alberto Gallo, senior credit analyst at RBS, said that volatility in yields will affect banks directly....
...“Gridlock in parliament means gridlock in the economy,” said Alberto Gallo, a senior credit analyst with RBS....
...Alberto Gallo, head of European credit strategy at RBS, believes it “is a positive step in the right direction” to help bring the country back on the road to financial stability and growth....
...Alberto Gallo, senior credit analyst at RBS, said Italian banks present “less equity upside” than other European banks as they still have to undertake a significant deleveraging of their balance sheets....
...Alberto Gallo, a senior credit analyst at RBS, says Italy is a “loan market”....
...Additional reporting by Rachel Sanderson in Milan...
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