Leading lights

The McDonald's burger bar at Liverpool Street in London and the more ritzy-sounding La Defense on the outskirts of Paris lie at the heart of structured products. The business was created there by financiers working into the night to create models that would make option pricing understandable and palatable to a retail investor audience.

There were other nerve centres, starting from convertible bonds desks in New York, servicing issuers of these bonds and warrants in Tokyo, also taking in Brussels

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