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经济学人:瑞士银行 谭天忠的微调(2)

时间：2018-12-03 03:19:52

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 　　He now intends to bring in SFr4bn through a rights issue. (Share sales in 2015 raised SFr6bn.) 他现在打算通过供股来注入四十亿瑞郎。（2015年的股权交易筹集了六十亿瑞郎。）

　　Shareholders1 had never been keen on the flotation, which would have diluted2 their returns from the division that contributes most to Credit Suisse's profits. 股东们从来不会热衷于增发新股，因为这将会稀释他们从红利分配中获得的收益，而红利分配占瑞士信贷利润的比重最大。
　　A climb in the share price, by more than 50% since July, has made a rights issue more attractive. 自7月来，股价增幅超过50%并正处于高点，这使得增发更加吸引人。
　　The issue will lift Credit Suisse's ratio of common equity3 to risk-weighted assets (a key gauge4 of banks' strength) from 11.7% to 13.4%. 股票发行会将普通股在风险加权资产中的比重（衡量银行实力的关键指标）从11.7%提高至13.4%。
　　That boosts it from a middling position among its European peers, but still leaves it behind Deutsche and UBS, its bigger Swiss neighbour. 这样的做法会使瑞信在处于中等位置的欧洲同行里脱颖而出，但是仍然排在德银和瑞银（瑞士联合银行）之后，而瑞银是瑞信在瑞士最大的邻居。
　　Mr Thiam claimed the quarterly figures endorsed5 a strategic shift towards Asia which he announced 18 months ago. 谭天忠宣称，季度数据确保了他在十八个月前曾宣布的面向亚洲的战略转移。对许多人来说，这种结构看起来不太平衡，但是谭天忠确信它正在见效。
　　He considers the region's newly rich to be ideal clients for a bank which can meet the needs of both their businesses and their families. 他把该地区的新富人视作银行的理想客户，这样的银行要能够满足他们来自企业与家庭的需求。
　　Credit Suisse's Asian division, like the Swiss universal bank, provides wealth management and investment banking6 locally. 瑞士信贷的亚洲分部，如瑞士环球银行，因地制宜地提供财富管理与投资银行服务。
　　Functional7 divisions serve the rest of the world. 各职能部门服务于世界其他地区。
　　To many, this structure looks lopsided. 对于很多人来说，这种结构看起来有点儿不平衡。
　　Mr Thiam is sure that it is working. 但谭先生确定这会起作用的。
　　The Asian wealth-management business saw profits rise by two-thirds in the year to the first quarter. 亚洲财富管理业在今年第一季度增长了三分之二。
　　The region's markets business tumbled into loss, but Mr Thiam insists that a change of management will help turn it around. 而该地区的市场业务陷入亏损，但是谭天忠坚持称管理方式的改变会有助于扭转现状。
　　All this should placate8 shareholders, who have had plenty to grumble9 about—and whom Mr Thiam faces at the annual meeting on April 28th. 所有这些消息都应该会安抚股东的情绪，他们已经有一大堆的抱怨了，而谭天忠会在4月28日的年度大会上面对这些人。
　　This month he and other executives gave up 40% of their latest bonuses, which had been criticised by advisers10 to institutional investors11. 本月，他与其他高管放弃了最近一次奖金的40%，这次高额奖金早已受到机构投资者的顾问的批评。
　　The bosses had hit their targets, but the bank lost money in 2015 and 2016. 在2015与2016年，老总们达到了拿高薪的目的，但是银行却发生了亏损。
　　Better luck this year. 祝今年好运。

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点击收听单词发音收听单词发音  

1 shareholders 7d3b0484233cf39bc3f4e3ebf97e69fe     
n.股东( shareholder的名词复数 )
参考例句：
  • The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
  • the company's fiduciary duty to its shareholders 公司对股东负有的受托责任
2 diluted 016e8d268a5a89762de116a404413fef     
无力的，冲淡的
参考例句：
  • The paint can be diluted with water to make a lighter shade. 这颜料可用水稀释以使色度淡一些。
  • This pesticide is diluted with water and applied directly to the fields. 这种杀虫剂用水稀释后直接施用在田里。
3 equity ji8zp     
n.公正，公平，（无固定利息的）股票
参考例句：
  • They shared the work of the house with equity.他们公平地分担家务。
  • To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。
4 gauge 2gMxz     
v.精确计量；估计；n.标准度量；计量器
参考例句：
  • Can you gauge what her reaction is likely to be?你能揣测她的反应可能是什么吗？
  • It's difficult to gauge one's character.要判断一个人的品格是很困难的。
5 endorsed a604e73131bb1a34283a5ebcd349def4     
vt.& vi.endorse的过去式或过去分词形式v.赞同( endorse的过去式和过去分词 )；在（尤指支票的）背面签字；在（文件的）背面写评论；在广告上说本人使用并赞同某产品
参考例句：
  • The committee endorsed an initiative by the chairman to enter discussion about a possible merger. 委员会通过了主席提出的新方案，开始就可能进行的并购进行讨论。 来自《简明英汉词典》
  • The government has broadly endorsed a research paper proposing new educational targets for 14-year-olds. 政府基本上支持建议对14 岁少年实行新教育目标的研究报告。 来自《简明英汉词典》
6 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
7 functional 5hMxa     
adj.为实用而设计的，具备功能的，起作用的
参考例句：
  • The telephone was out of order,but is functional now.电话刚才坏了，但现在可以用了。
  • The furniture is not fancy,just functional.这些家具不是摆着好看的，只是为了实用。
8 placate mNfxU     
v.抚慰，平息(愤怒)
参考例句：
  • He never attempts to placate his enemy.他从不企图与敌人和解。
  • Even a written apology failed to placate the indignant hostess.甚至一纸书面道歉都没能安抚这个怒气冲冲的女主人。
9 grumble 6emzH     
vi.抱怨；咕哝；n.抱怨，牢骚；咕哝，隆隆声
参考例句：
  • I don't want to hear another grumble from you.我不愿再听到你的抱怨。
  • He could do nothing but grumble over the situation.他除了埋怨局势之外别无他法。
10 advisers d4866a794d72d2a666da4e4803fdbf2e     
顾问，劝告者( adviser的名词复数 )； （指导大学新生学科问题等的）指导教授
参考例句：
  • a member of the President's favoured circle of advisers 总统宠爱的顾问班子中的一员
  • She withdrew to confer with her advisers before announcing a decision. 她先去请教顾问然后再宣布决定。
11 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会

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