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January 27, 2014

Reg reform bank impacts will take another 6 years | Barclays’ CEO Jenkins at Davos

Reacting to re-regulation will take "until close to the end of this decade", says Barclays CEO Antony Jenkins at Davos as quoted in this article from the FT(subscription required).

Reacting to re-regulation will take "until close to the end of this decade", says Barclays CEO Antony Jenkins at Davos as quoted in this article from the FT(subscription required).
 
Other bank heads chimed in:
  • Deutsche Bank CEO Anshu Jain sees banks moving to "a more utility-like model … but still representing a good return on capital"
  • Berenberg UK Chairman Andrew McNally thinks "investment banking will go back to being a moving business [trading on behalf of clients] not a storage business [proprietary trading]" – echoing the resonant point about bank balance sheet constraints from the recent TABB Fixed Income conference
Aaaggghhh!!! So much for re-regulation being nearly over. Six more years of compliance work???
 
Actually I think its likely pure compliance activities are becoming routine.  Instead smarter banks are directing their efforts towards business innovation and proactive change programs to improve revenue and returns on capital given the new regulatory-driven financial costs and constraints.

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