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Dear Clients, Partners and Friends,
The reporting season for the 2016 results has started without major surprises. Investors in equity markets have had a pleasant first quarter. The outlook for the global economy is bright. Is this all too good to be true?
Following the markets in our region, we can confirm that developments are pointing in the right direction on our end as well. Market efficiency is being increased to the benefit of investors wherever possible, and I would see the upcoming merger of the Romanian Stock Exchanges as another bold step in this direction.
On this positive note, I would like to wish you a successful start to the second quarter!
Susanna Scheffold
Global Head of Securities Services
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