Image close-up (square)
Active
On
Active in overview
Off

Trump's return to Davos heralds new age of deglobalization

As global leaders and investors arrive in Davos this week, the central question for markets is no longer whether geopolitics matters, but how quickly political risk is being priced into assets. Donald Trump’s return to the World Economic Forum, where he is due to speak on Wednesday, comes at a moment when institutional credibility, fiscal discipline and capital concentration have become investment variables rather than background noise.

CIOs caution investors against headline-driven decisions

Anyone following geopolitical tensions, the noise around China and the ongoing turmoil coming out of Washington might expect investors to turn defensive. The opposite emerged at the CIO panel during the Investment Officer New Year’s Perspectives 2026 in Amsterdam on Thursday. Chief investment officers from ING, Van Lanschot Kempen, ABN Amro and Rabobank are not retreating, but positioning with intent. Their shared view was that the greatest risk is not geopolitics itself, but investment decisions driven by fear. That perspective ran through the discussion.

Protectionist reflexes still stand in the way of Europe’s champions

The failed partnership between Italy’s Generali and France’s BPCE is more than a collapsed deal in European asset management. It exposes how challenging it remains for Europe to build financial scale once a project becomes truly cross-border, and how protectionist reflexes, legal uncertainty and unfinished integration can combine to smother a transaction.

Venezuela, Greenland and the return of spheres of influence

When United States forces seized President Nicolás Maduro of Venezuela, the political shock was immediate. The market reaction was not. Oil prices barely moved, investors stayed largely on the sidelines and attention quickly shifted from what had happened in Caracas to what it might reveal about how Washington now intends to wield power beyond its borders.