Relationship banking isn’t dead, just different

Some asset managers are pumping banks for liquidity leads. But what can they offer in return?

Trader
Asset managers want banks to share information on liquidity, but they have little to give in return

They used to be tight.

In the not too distant past, banks sought out the business of asset managers, plying them with free research, market intelligence and trade ideas during the day, and occasionally, sparkling entertainment. All those giveaways cemented relationships and business.

Then came Mifid II.

Since its inception, the directive’s best-execution rules have rumbled over the European rates market, requiring asset managers to prove they had got the best price for their customers. The

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