Tag Archives: Investment banking
The problem with investment banks – part 1: revenues
The investment banking industry has a problem. In fact it has at least three of them: a revenue problem, a cost problem, and a profitability problem. In the first of a series of three articles to cheer you up after … Continue reading
The Holy Grail of the European capital markets
The financial crisis could trigger more disintermediation and the ‘financialisation’ of the European capital markets. About time too. My latest column for Financial News: Even a mushroom cloud has a silver lining. And as investment bankers pick through the wreckage … Continue reading
The changing face of the investment banking industry
A unique analysis of the impact of the financial crisis on investment banks – comparing last year’s performance with 2006 – reveals an industry that is smaller, more concentrated, and much less profitable. My latest column for Financial News: Investment … Continue reading
Unravelling the enigma behind HSBC’s profits
The bank is curiously shy about disclosing the profitability of its divisions. My latest column for Financial News works out how profitable each business is and where HSBC makes its money. When HSBC reported its annual results last month, it … Continue reading
Deutsche Bank’s ‘first among equals’ dilemma
My latest column for Financial News on the personalities and context behind the latest management reshuffle. The elevation of Anshu Jain to co-chief executive of Deutsche Bank was always going to leave the bank with a high quality problem – … Continue reading
The new team at Deutsche Bank
Here’s a complete list of the management changes at Deutsche Bank, including the new members of the Management Board and of the Group Executive Committee, following the restructuring by new co-chief executives Jürgen Fitschen and Anshu Jain that leaked out … Continue reading
The parable of BNP Paribas and SocGen
My latest column for Financial News on how the two French banks have struggled over the past decade to come to terms with their failure to merge in 1999. Nearly 10 years ago, in a provocative report entitled French banks: … Continue reading