Word: players
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...former taxi drivers' restroom on Gerrard Street in London's Soho was the first home to young tenor sax player Ronnie Scott's jazz club, which he founded in 1959 and hoped would rival those he'd visited on New York City's 52nd Street. By the time the club moved in 1965 to slightly larger premises round the corner at 47 Frith Street, Ronnie Scott's had become a British home away from home for American hardboppers like Zoot Sims, Dexter[an error occurred while processing this directive] Gordon and Sonny Stitt. And it's been known simply...
...Such offbeat offerings indicate the growing need for private banks to distinguish themselves from competitors in a fragmented market that's ferociously competitive. The largest global private banks in Asia are UBS, Credit Suisse, HSBC and Citigroup, but there are scores of others, and no single player is dominant?Citigroup, which manages roughly $70 billion in Asian private-banking assets, is one of the top-three regional players, yet it still controls just 3-4% of the Asia market. With customers up for grabs, selling services can be about marketing the sizzle?bragging rights and a sense of privilege...
...serious guys have four to five accounts," says Scott. Another result is rising salaries as banks tussle with one another for talent. Industry consolidation may be the inevitable endgame. Only the biggest banks will be able to satisfy the growing salary demands of private bankers, so middle-tier players may gradually be squeezed out. "The big will only get bigger," says Didier von Daeniken, head of private banking for Credit Suisse in Southeast Asia. "As a middle player, it's not easy to make money because [staffing] costs have risen...
...rile Japan's neighbors. For a start, local media reported last week that he has plans to revise the country's pacifist constitution to allow Japan's self-defense forces greater participation in allied military operations?a signal that he's eager for Japan to become a more assertive player on the world stage. If so, Beijing and Seoul may have second thoughts about celebrating Koizumi's departure...
...government of Prime Minister Nuri al-Maliki. The Mahdi Army is loyal to the radical cleric Muqtada al-Sadr, who controls at least 30 seats in the 275-member parliament. "We must not demonize the Mahdi Army or Muqtada," says a senior Coalition official. "He is a legitimate political player...