(Reuters) - Following are selected quotes from executives speaking at the Reuters Global Finance Summit being held in Hong Kong, London and New York until November 13.
JOSEPH PERELLA, CHIEF EXECUTIVE OFFICER, PERELLA WEINBERG
PARTNERS
"Unlike collapses of the past where the finance industry just brushed it off, kept going, they're right there at the vortex of the storm. The industry is the problem, it's not a subset of it. It's not a containerized explosion."
"The private equity business got tranquilized, like the lion in the jungle you shoot the bee into it and it's lying there limp."
On the advantage of being a boutique company: "When you're public you have to have a volume-driven business model which means you sleep with everyone."
DONALD MARRON, CHIEF EXECUTIVE OFFICER, LIGHTYEAR CAPITAL
On retail investors feeling the effect of the financial crisis: "This is the first 401k crash."
"Wall Street is in the business of making illiquid things liquid .... Securitization wound up making liquid things illiquid."
ROBERT KAPITO, PRESIDENT, BLACKROCK INC
"Isn't it ironic that the securities that caused most disarray for sell side firms are the ones they wanted to sell to me?"
On regulating complex securities: "I think the buy side can help in regulation in one way: Don't buy it!"
WILLIAM CHALMERS, HEAD OF EUROPEAN BANKS IN THE FINANCIAL
INSTITUTIONS GROUP, MORGAN STANLEY
"We're seeing the end of the fireworks post-Lehman. The intervention of the state has slowed that.
"Perception very quickly turns into reality (in emerging markets). What investors tend to do is to act on that suspicion, by their actions it turns into pressure on the currency. What they thought was a risk becomes reality. This will lead to overshoot. Continued...
© Thomson Reuters 2009. All rights reserved.
| India Investment | Nov 23 - 25, 2009 | Country Summits |
| Global Finance | Nov 16 - 19, 2009 | Financial Services / Exchanges |
| Health | Nov 09 - 12, 2009 | Health |
| Autos | Nov 02 - 4, 2009 | Autos |
| Middle East Investment | Oct 26 - 28, 2009 | Country Summits |
