May you live in interesting times runs the Chinese curse and for the world’s banks, as Citigroup’s announcement of 11,000 job cuts and a $1bn restructuring charge shows, the times do not get much more interesting than this.
“宁为太平犬,不做乱世人(May you live in interesting times)是一句中国谚语。对全球银行业来说,再也没有比现在更乱、更有趣的时候了。花旗集团(Citigroup)宣布裁员1.1万人并将耗资10亿美元重组就是一个例证。
Thanks to self-inflicted wounds and consequential external pressures, the leveraged business model that defined the universal bank is broken. Regulators require extra capital, less proprietary trading and more transparency of their charges. Liquidity is “in, leverage is “out.
由于自己造成的创伤和随之而来的外部压力,全能银行标志性的杠杆化经营模式已然失败。监管机构要求银行增加资本金,减少自营交易,并提高收费透明度。流动性“登场,杠杆化“落幕。
Citigroup is not alone laying off staff and redesigning its operating model. RBS and UBS have pulled back from equities and fixed income respectively. Credit Suisse has ring fenced its investment bank. Barclays’ strategy review is set to conclude in the new year and investors are questioning the size, shape and position of its investment bank. Across Wall Street, as senior executives decide how to allocate reduced bonus pools, the year-end compensation review is bringing an added focus to strategic discussions.
【投行的乱世机遇】相关文章:
最新
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15