Mr. James Hyde

"Accounting practices in Europe differ from the mark-to-market approach in the U.S. and accountants often have to change the models as the market develops," said James Hyde, a bank analyst at European Credit Management, a fund manager in London.

The bank is looking very closely at "non-staff costs, especially at the investment bank", said James Hyde, banking analyst at Fox, Pitt-Kelton.

He said the bank was planning to cut back on client services, tighten travel and entertainment budgets, and reduce marketing and consulting costs.

Analysts said the bank would also take a close look at staff costs, including compensation structures.

JAMES HYDE, ANALYST, EUROPEAN CREDIT MANAGEMENT: Oh, hello.
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JAMES HYDE: Hello.
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JAMES HYDE: Yes, sorry.
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JAMES HYDE: Well, the second part, just to repeat, clearly there is adeterioration and possibly a re-estimation of non-performing loans.So, as I said, February presentation pack you had end of year at0.6%.
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JAMES HYDE: Yes, and wouldn't you be cautious on this given thisrapid increase in non-performing loans in the system.And, as youindicate, in the first quarter.
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JAMES HYDE: In percentages, not necessarily numbers, presumably?
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JAMES HYDE: But do you not see any concern into taking growth -- intosort of growing into this situation where asset quality isdeteriorating?
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JAMES HYDE: Okay, and in terms of funding --
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JAMES HYDE: Okay.
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JAMES HYDE: So that would make you grow less than 20%?Or you'resaying that is already projected.Which way?

"There is a certain assumption that this could be a slow dance leading to a full marriage," said James Hyde, industry analyst in London for Merrill Lynch.
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Dresdner evidently would insist on a 50 50 joint venture bank, even though it would provide lower profits, Mr. Hyde said.Even if the talks are successful, it would take a year to mesh the retail operations. Prospects of a merger by Germany's arch rivals spurred grim forecasts of mass layoffs, which could lead to union opposition.The Unifi banking trade union in London estimates that "there could be thousands of jobs cut" in London's financial district if the German banks aligned.Similar mergers in the past have cut head counts by 20 percent, Unifi said. "The genie is out of the bottle," Mr. Hyde said.

James Hyde, banks analyst at Fox Pitt Kelton, said rather than facilitating such a deal with Allianz, he saw yesterday's announcement as a potential prelude to a deal between Deutsche Bank and a bulge bracket investment bank such as Merrill Lynch or Morgan Stanley Dean Witter.Positioning Deutsche Bank as a (1) corporate & investment bank, and (2) asset gatherer would make it a much more acceptable merger candidate to any American investment bank, he said.

Publication date : 2000-12-05

DEPFA BANK announced today that Mr James Hyde, Executive Director and Chief Risk Officer, has left the Bank with effect from 2 August 2002. Mr Hyde has made a significant contribution to the Bank since joining in October 2001. Mr Hyde joined the Bank from Fox-Pitt, Kelton having worked for many years as a senior analyst in the City of London. DEPFA BANK regrets his departure and wishes Mr Hyde every success in his future career and thanks him for his contribution to the Bank over the last year.

Tim Nichols, 15, and James Hyde, 13, are earning Eagle Scout status by heading projects to paint the main building and tool shed, respectively.
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Hyde is a senior patrol leader.

James Hyde has also been appointed as an Executive Director to the Board of DePfa Bank Europe.Hyde joins DePfa Group from Fox-Pitt, Kelton, where he was a senior bank analyst.Prior to this position he was with Merrill Lynch and has been a banks analyst for altogether eleven years.In the earlier part of his career he was a project finance specialist.Hyde will play a key role in the reorganisation of DePfa Group leading to the splitting of the public sector activities and the property finance activities of the group.He will eventually have responsibility, in particular, for credit and market risk across the DePfa Public Sector Group.

James Hyde

James joined the Asset Management Sector Team as a Technical Specialist in April 2009.

Before joining the team and the FSA, James worked in asset management as a Senior Analyst for financial sector investments at European Credit Management.
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James was also a Director and Chief Risk Officer of Depfa Bank plc when it was restructured and moved from Germany to Ireland over 2001 and 2002. He has an MBA from Manchester Business School and a BA (Economics) from Manchester University.

``Second quarter revenue slumps will be even worse , '' James Hyde , analyst at Fox-Pitt Kelton in London , told Reuters.

He said profit falls and the cost of aggressive hiring and expensive technology investments would lead to more industry downgrades which could further harm share prices.

Many banks have also been rebalancing portfolios in tight markets by increasing their exposure to alternative investments including hedge funds where bankers say margins are high.

Analysts say revenues will be hit worst at private banks relying on brokerage and transaction volumes that have dried up.

Some analysts warn that Swiss giant UBS AG , the world's largest wealth manager with more than 2.4 trillion Swiss francs in assets under management , may suffer from falling brokerage fees due to its heavy U.S. exposure through broker PaineWebber.

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``I know of very few banks that do not want to expand in private banking , '' said Hyde at Fox-Pitt Kelton.

As a result , pay packages are shooting through the roof.