News & Announcements

November 13, 2017

The world is interested in Iran, except the United States

I attended the Iran Capital Market Conference organized by the Securities and Exchange Organization of Iran. It took place on Kish Island, a luxury island 19 km from the continent. The Shah wanted it to give the image of a booming and international Iran. Judging from the construction, Kish Island could be the next Miami, including skyscrapers, palm trees, palaces and beaches.

One of the most interesting elements of this Iranian capital markets conference was the presence of the Indian, Indonesian, German, British and Belgian institutions. Also, the Turkish and the South Korean ambassadors were there to represent their countries. Read More

 

Blog Article
October 5, 2017

Catalonia is Worse than Brexit…and More Contagious

Lessons from Brexit

The attempts by the Catalonia region to dissociate itself from Spain has many of the traits of Brexit: quest from “being master of one’s destiny” to “we will be better without Spain”. Like Brexit, those statements contain a set of absurdities. Brexit was voted based on misinformation brought by Boris Johnson and Nigel Farage. Ignorance or sheer manipulation does not change the fact that the populations have been misled. Brexit was based on what has proved to be wrong assumptions, sky rocketing costs and insane complexity. Read More

 

Blog Article
September 24, 2017

Donald Trump n’est pas une farce, c’est un danger pour la paix mondiale

Il y a près de neuf mois que Donald Trump occupe le siège de Président des Etats Unis et continue à se comporter comme un pitbull enragé. Nous ne pouvons plus nous permettre de considérer ce reality show comme une forme de spectacle. Les enjeux ont augmenté dans les derniers mois et les derniers jours ont donné lieu à plusieurs déraillements qui ne peuvent plus amuser la galerie. Son opposition ce weekend aux sportifs protestant, genou en terre, contre le mauvais traitement des noirs, l’emmène dans une dérive raciste dont il risque de ne pas pouvoir se dépêtrer facilement et qu’il tente de nier. Même Stevie Wonder s’est agenouillé « pour l’Amérique ». A savoir plus

 

 

Blog Article, French
August 8, 2017

Iran Does Not Need the United States

Last month, I attended a conference organized by the Central Bank of Iran on financial stability in Tehran. It was an eye-opener to see the quality and depth of the research and the importance that the Iranian leadership attached to the evolution of international regulation. It was also an opportunity to assess how the Iranian leadership was reacting to the recent aggressive talks of Donald Trump and his administration. Read More

 

Blog Article
July 6, 2017

France Between Regicide and Monarchism: Understanding Emmanuel Macron

Next week, France will celebrate its Bastille Day: it was the take over of a French prison on July 14, 1789. On January 21, 1793, they beheaded their King and his wife. Since that barbarian regicide, France has constantly been oscillating between a fundamental monarchism that admires the “king” (even if he is the President of the Republic) and a profound desire to assassinate him.

France is a Monarchy

The paradox of this year’s Bastille Day, is that Emmanuel Macron invited Donald Trump to be his guest to celebrate the 100th anniversary of the entry of the United States in World War I by president Woodrow Wilson on April 2, 1917. US troops will take part of the military parade on that occasion. Needless to say, the discovery of a plot to assassinate Macron on July 14 is making it a high-risk ceremony. It will be a high risk ceremony. Read More

Blog Article
June 22, 2017

The New Shape of Brexit: Let’s be Serious Now

The real negotiation is starting with a weak United Kingdom.

Unfortunately, the field for negotiation is mined with bombs that can detonate at any moment. First, Theresa May, in a perfectly conservative entitled move, has managed to weaken the UK position in the negotiation by launching a new consultation of the British people that boomeranged. Believing she is so much better than her predecessor, David Cameron, she fell into the same trap. Manipulating democracy is not rewarding at times of unpredictable populism. Read More

Blog Article
May 31, 2017

There Is No Peace In The Middle East Without Iran

Donald Trump might have missed the most positive news from the Middle East last week. It was not his antagonistic declarations in Riyadh, Israel, Brussels and Italy.

It came from Iran: President Hassan Rouhani had managed the tour de force to be reelected against a conservative candidate and a few others, reaching 57% of the votes at the first round. Three-quarters of the Iranians voted, twenty percent more than in the US. It was a victory for those who believe that the time had come to open up Iran further to the rest of the world. Read More

 

 

Blog Article
May 22, 2017

Open Letter to Donald Trump, the Golf Addict

Dear Donald,

Since your inauguration, you are in the bunker of the first hole.

Your three worldwide golf partners, Vladimir Putin, Xi Jinping and Angela Merkel are watching you. Vladimir is laughing as he did yesterday at his press conference: you gave him so many reasons to ridicule America. You thought he would be your friend: in fact, he gave a soft quick touch to your ball to make sure it would fall in the bunker. Xi is smiling, undecipherable, happy to see you weakened after your rodomontade on North Korea. As to Angela, you hate her and she sees you exactly as the player you are: a bully who hits ferociously the ball, does not wait for his turn, throws as much grass as the ball. You do not even have a sense of the basic etiquette: you did not shake her hand while you were holding Teresa May by the hand.

Read More

Blog Article
May 11, 2017

Trump vient de créer les conditions de son impeachment

Nous y voilà.

Le barnum de la télévision dont la série-phare était « you are fired » « vous êtes viré », vient d’utiliser cette réaction impulsive contre le patron –par ailleurs très controversé- du FBI, James Comey. Il en a le droit si son Ministre de la Justice, Jeff Sessions, lui-même controversé et empêché d’exercer cette fonction dans son Etat, le lui demande. En savoir plus

 

 

Blog Article, French
May 4, 2017

“Un succès de Macron est plus important pour l’Europe que pour la France”

Georges Ugeux, président de Galileo Global Advisors, ancien vice-président exécutif de la Bourse de New York.

 

Georges Ugeux était de passage en Belgique pour un exposé au Cercle du Lac à Louvain-la-Neuve mais aussi pour faire la promotion de son roman financier “The Flying Dragon” qui vient d’être traduit en français. L’ancien vice-président exécutif de la Bourse de New York, aujourd’hui président de Galileo Global Advisors, est arrivé à Bruxelles en droite ligne de Paris où il est régulièrement interrogé par les médias français. En savoir plus

 

French, Media, Print
May 2, 2017

Quel(le) Président(e) pour la France ?

Que ce soit à New York, Londres, Berlin ou Bruxelles, tous les regards sont rivés sur la scène politique française. Londres se demande comment la négociation Brexit sera affectée.  Berlin se demande qui sera le ou la partenaire de l’axe Paris-Berlin, tout en  exprimant sa préférence pour Emmanuel Macron. Bruxelles sait que seul ce dernier est vraiment un partisan de l’Europe. Quant à New York, ce sont les réminiscences de l’holocauste qui choquent et nourrissent la préférence pour En Marche. Les Francais y ont voté a 52% pour lui. En savoir plus

 

 

Blog Article, French
April 28, 2017

Georges Ugeux sur les traces d’Agatha Christie

On l’a connu directeur financier de la Générale de Belgique, président du Fonds européen d’investissement, numéro deux du Nyse, avant de fonder sa banque d’affaires Galileo Global Advisors). Et voilà Georges Ugeux désormais auteur de roman policier.

 

“The Flying Dragon” a été publié en anglais voici un an et demi et vient d’être traduit en français (un titre sans surprise : Le Dragon volant, Edilivre, 19,50 euros). Lecteur francophone peut donc lui aussi désormais se perdre dans les arcanes bancaires asiatiques. Bertrand Wilmington était responsable à Hong Kong des produits dérivés obligataires au sein d’une grande banque internationale. Il faut une chute de 22 étages. Accident, meurtre ou suicide ? En savoir plus

 

French, Media, Print
April 13, 2017

Les Décodeurs de l’éco : Trump plie-t-il face aux Chinois ?

Donald Trump, qui a martelé durant sa campagne que la Chine sous-évaluait volontairement sa monnaie pour mieux exporter ses produits, a déclaré exactement le contraire dans la presse américaine. Le président des Etats-Unis a acté sa spectaculaire volte-face dans un entretien au Wall Street Journal paru mercredi, revenant ainsi sur une de ses promesses de campagne emblématiques. Alors, Trump plie-t-il face aux Chinois ? – Pour en parler: Jean-François Di Meglio, président d’Asia Centre. Philippe Tibi, président fondateur de Pergamon Campus et co-auteur de “Plus de Marché pour plus d’Etat !” avec Francis Kramarz. Léon Laulusa, professeur à l’ESCP Europe. Et Georges Ugeux, PDG de Galileo Global Advisors. – Les Décodeurs de l’éco, du jeudi 13 avril 2017, présenté par Fabrice Lundy, sur BFM Business. Écouter

French, Media, Radio
March 29, 2017

The Day Europe shrunk: Brexit and LSE-Deutsche Boerse

March 29, 2017 will be remembered as the Day Europe shrunk. The letter of Prime Minister Theresa May initiating article 50 of the European Treaty is delivered today. Article 50 was aiming at countries that would become dictatorships or not respect human rights. “It seemed to me very likely that a dictatorial regime would then, in high dudgeon, want to storm out. And to have a procedure for storming out seemed to be quite a sensible thing to do — to avoid the legal chaos of going with no agreement,” the writer of the article Lord Kerr said. It was never conceived as an exit strategy for legitimate Member States. Whatever the intention of the legislator was, the text was ambiguous enough to allow Brexit. Read More

 

 

Blog Article
March 26, 2017

Why the Democrats Should Not Filibuster Judge Gorsuch

The unconstitutional behavior of the Republican Party, refusing even to audition Justice Merrick Garland, despite bipartisan support, under fallacious pretexts, has deprived the Supreme Court of its ability to operate as it should. They showed disrespect, not only to the Judge and the President, but to the Supreme Court itself. Read More

 

 

 

Blog Article
February 7, 2017

The Four Walls Containing Trump’s Fury

The last few days are showing how the resistance to the furious, insane and untrue statements of the President of the United States is starting to take shape. It will, over time, strengthen and contain Donald Trump’s ability to make America less bad than he has made it since the beginning of his Presidency. Read More

 

 

Blog Article
February 6, 2017

La Thaïlande à la croisée des chemins sous un régime militaire qui s’accroche

L’instrumentalisation de la monarchie par l’armée

 

Le deuil prolongé depuis de la mort le 13 octobre 2016 du Roi Bhumibol est omniprésent dans la ville sous forme de panneaux, de photos et d’hommages. Son incinération n’a pas encore eu lieu, et risque de ne pas avoir lieu avant plusieurs mois. C’est l’incinération du roi précédent qui permet le couronnement de son fils.

 

Un des hauts-lieux de Bangkok est le Palais Royal. J’ai tenté de m’y rendre pour découvrir des milliers de Thaïlandais tout de noir vêtus qui eux-mêmes essayaient de rendre hommage au défunt souverain.  A chaque coin de rue, la police veille et attrape de temps à autres de pauvres hères pour une raison ou une autre. En savoir plus

 

 

Blog Article, French
February 2, 2017

Organisons la résistance contre Trump

Son narcissisme psychopathique ne lui permet même pas d’en être conscient, tant il est aveuglé par sa mégalomanie galopante. Derrière lui, c’est une vraie machination d’extrême droite qui, consciemment, utilise ce narcissisme présidentiel pour tester les limites des institutions à l’avantage de son idéologie. Read Full Article

 

 

French, Media, Print
January 17, 2017

The End Of The Trump Tweets?

On Friday January 20, Donald Trump will be inaugurated as president of the United States. On that day, the Donald Trump tweets will cease to exist. Do I mean that he will no longer tweet? Somewhere, I doubt it. But they no longer will be Trump tweets. They will be White House tweets, if they still exist. He decided to refuse the @POTUS handle of the president of the United States and keep his personal handle. He is wrong if he believes that it changes anything to his presidential liability. Read More

Blog Article
December 27, 2016

National-Socialisme ou Populisme?

Depuis plusieurs mois, je vois se dérouler devant nous des personnages et des évènements  politiques qui semblent devoir leur pouvoir à une pratique que tous les medias et observateurs appellent le populisme. Je me sens de plus en plus mal à l’aise avec cette étiquette que l’on applique à tort et à travers. Pris au sens étymologique, le populisme est la version latine de la démocratie grecque. Il ne devrait pas être l’épouvantail que l’on s’envoie dans le circus maximus électoral et politique. Il est commun à ce qu’il est convenu d’appeler l’extrême droite et l’extrême gauche qui ont effectivement le même programme politique, constituant un « nouveau centre ». En savoir plus

 

Blog Article
December 26, 2016

The House of Tatas Accused of Insider Trading by its Disgruntled CEO

Mr Mistry asked the court to appoint an inspector to investigate whether Mr. Tata had breached of insiders trading regulation by allegedly seeking price-sensitive information from Tata operating companies that are publicly listed.
Cyrus Mistry brought a veiled accusation that cannot be left unanswered: he accused Ratan Tata and the Trusts of violating insider trading rules, which is a criminal accusation potentially leading in India to an imprisonment up to ten years. Accusing Ratan Tata to be a criminal is despicable and, more importantly, incorrect in fact and in law. Read More

Blog Article

Another Governance Paradigm for Tatas

Tata Sons is the main shareholder of the companies in the Tata group, resulting in a $103-billion conglomerate. On top of Tata Sons is Tata Trusts, which owns Tata Sons for 66 per cent, making it Tata Trusts’ main asset.

Tata Sons supports Tata Group companies in various ways. Beyond the licensed use of the Tata brand, companies receive direct and indirect financial support from Tata Sons. Additionally, the boards of directors and management of the individual companies often seek strategic advise from Tata Sons, including support for acquisitions, divestments, large investments, business collaborations and leadership talent development. Read More

Media
November 29, 2016

Will Italy Provoke a Systemic Financial Crisis after December 4?

Italy is on the cliff of a major debt and budget crisis.
The Italian economy has been in a virtual recession while its public debt increased to 2,273 billion euros representing 132.7% of its Gross Domestic Product, despite a monetary policy that pushed interest rates at a record low. The effect of this situation on Italian banks has been to accelerate the deterioration of their loan portfolio. Read more

Blog Article
November 14, 2016

Trump already (notionally) cost $80 billion to the US budget

I know it is not immediate, but for some reasons, nobody has spoken about the sharp increase in US interest rates of the US Treasuries. On November 8, the yield of 10-year US Treasuries was 1.85%. Today, it is already at 2.25%. This increase of 0.40% applied to the level of $ 20 trillion of US public debt represents an annual cost to the budget of $ 80 billion. This is a notional calculation since the debt will only become more expensive after each renewal of debt. Read More

Blog Article
November 10, 2016

“The TRUMPet shall sound”: the mourning after…

“The trumpet shall sound, and the dead shall be raised incorruptible, and we shall be changed” is part of Handel’s Messiah and raises hopes of the resurrection. The text comes from the first letter of St Paul to the Corinthians. This Wednesday, we woke up to a profound nightmare. Read More

 

Blog Article
October 21, 2016

La Wallonie entre dans l’histoire à reculons

La décision du gouvernement wallon de refuser son approbation au Traite entre l’Europe et le Canada fait partie de la tendance mondiale vers un populisme qui rêve de détruire la mondialisation. Cette décision pose des problèmes pour la Wallonie, la Belgique et l’Europe, mais surtout la question de l’avenir des traites internationaux. Ce sujet n’est d’ailleurs pas strictement européen, et les oppositions diverses et variées au Traite Trans pacifique ne sont pas moins violentes. En savoir plus

Blog Article, French
October 13, 2016

The Federal Commission Should Cancel The Third Debate

The Federal Election Commission has remarkably failed in its responsibility to organize fair debates. The “town hall” was more formal than a classical debate and the absence of table allowed the Republican Candidate to literally circumvent the Democratic candidate. That is on the form. Read More

Blog Article
October 11, 2016

Les principaux défis de la Présidence d’Hillary Clinton

Maintenant qu’il est clair qu’Hillary Clinton gagnera haut la main les élections présidentielles, il peut être utile de se demander quels sont les principaux défis auxquels la Présidente des Etats-Unis sera confrontée au cours des prochaines quatre années. Sa capacité d’agir sur ces sujets dépendra en grande partie du Congrès : c’est pour cela que les républicains, qui savent qu’ils ont perdu la course à la Maison Blanche, se concentrent sur les élections parlementaires. En savoir plus

Blog Article, French
September 28, 2016

L’invité de la rédaction – le premier débat Clinton-Trump

L’invité de la rédaction – Georges Ugeux, président de la banque Galileo Global Advisors. Les marchés ont reculé avant le premier débat Clinton-Trump de lundi avant la présidentielle américaine. Que signifie cette réactivité? Y a-t-il de la nervosité en raison d’un résultat incertain du scrutin? Ancien vice-président de la Bourse de New York, Georges Ugeux est président de la banque d’affaires Galileo Global Advisors. More

French, Media, Radio
September 11, 2016

TV Journalists Should Not be Moderators of Presidential Debates

The wave of criticism of Matt Lauer for his performance as a moderator of the debate between Hillary Clinton and Donald Trump has evidenced the uneasiness that has been created by the various television channels. Matt Lauer had to field critics for a decision that was made by the NBC editorial staff. NBC Today is not exactly a news show. the Commander-in-Chief is not Matt Lauer’s expertise. Read More

Blog Article
September 5, 2016

L’affaire Apple est beaucoup plus complexe qu’il n’y parait

L’amende de 13 milliards d’euros imposée par la Commission Européenne au géant Apple qui vaut plus d’un billion d’euros en Bourse (550 milliards) a amené des réactions en tous sens tellement incohérentes que j’ai préféré attendre le calme de la fête du travail aux Etats-Unis ce lundi pour regarder de plus près cette étourdissante décision. En savoir plus

Blog Article, French
July 15, 2016

Italy is More Dangerous than Brexit: Europe’s Next Crisis Could be Systemic

The noise about Brexit, as historically and politically significant as it could be, has, over the past three weeks, allowed Italy to hide. However, whether its is the Financial Times about Italy’s banking crisis, the New York Times, Italy’s Plan for Banks could Roil Europe or The Economist Italy’s teetering banks will be Europe’s next crisis, serious media all came within a week to remind us that the reeal risk for Europe is Italian banking. Read More

Blog Article, Media
July 4, 2016

Brexit: la France veut-elle évacuer la Grande Bretagne?

Depuis plusieurs jours, les déclarations françaises se multiplient pour « évacuer » la Grande Bretagne de l’Union Européenne de toute urgence. Quelle mouche pique donc le Gouverneur de la Banque de France, le Premier Ministre, le Ministre des Affaires Extérieures et le Ministre de l’Economie, mais aussi les commentateurs ? J’ai tenté une analyse sur base de toutes ces déclarations. Voici mon analyse qui sera largement controversée. En savoir plus

Blog Article, French, Media
June 13, 2016

Donald Trump Desperately Looks for an Exit Strategy

As we are getting closer to Donald Trump’s nomination, his outrageous behavior has accelerated. He stated that he would not change if he were elected president, insulted the media who have blindly financed him for sake of reality TV, insulted Republican parliamentarians, refused to publish his tax returns and recently defended a fake university that bears his name. He is being more outrageous every time he speaks. Read more

Blog Article, Media
June 1, 2016

JIBLR Article: Building a European Capital Markets Union by Georges Ugeux

Journal of International Banking Law and Regulation – Building a European Capital Markets Union: The Need for Liquidity and Focus

 

The European Commission is building a Capital Markets Union (CMU) to counteract Europe’s over-reliance on bank funding. As the Commission’s CMU communication often refers to peripheral projects and misapprehension of Europe’s capital markets, this paper aims to contribute by highlighting the main challenges and action points for realising the CMU. Read full article

 

This material was first published by Thomson Reuters (Professional) UK Limited in Georges Ugeux, “Building a European Central Markets Union: The Need for Liquidity and Focus” (2016) 31 J.I.B.L.R. 314–330 and is reproduced by agreement with the Publishers.

Media, Print, Publications
May 4, 2016

Donald Trump sent me this message

 

Dear Georges,

[I wanted to answer your blog personally as you are questioning my candidacy for the Presidency of the United States of America. These are my original words, compiled to convince you of the contrary.]

A compilation of quotes from Donald. Read More

Blog Article
April 24, 2016

Time to be Serious About Cuba

These thoughts are the reflection of a people-to-people trip to Cuba with National Geographic, a program that is fundamentally educational and a discovery.

 

In 2015, the 7th Americas Summit, in Panama City, included Cuba for the first time. This U.S. initiative would have happened without the U.S. if they had refused the presence of its neighboring island. It was the first meeting between Barack Obama and Raul Castro, that led to the reopening of the U.S. Embassy and the visit of the U.S. President in Havana. It was also the clearest indication that the US were the only nation not to have such relationship. 90 miles from Key West, it was time not to submit US foreign policy to the lobby of the Cuban Americans in Florida. Read more

Blog Article
March 19, 2016

La crois­sance pour la crois­sance n’a pas de sens, il faut re­prendre les pro­blèmes à zéro

Georges Ugeux a déjà der­rière lui une longue car­rière dans le monde de la fi­nance. Il a tra­vaillé pour la Gé­né­rale de Banque, chez Mor­gan Stan­ley, à la Gé­né­rale de Bel­gique et chez Kid­der Pea­body. Il fut aussi vice-pré­sident du New York Stock Ex­change (NYSE), avant de fon­der sa firme: Ga­li­leo Glo­bal Ad­vi­sors. Au­teur, blo­gueur, ora­teur, le “Belge de New York” nous livre son point de vue sur les dé­ve­lop­pe­ments ré­cents de l’ac­tua­lité. En savoir plus

 

 

French, Media, Print
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