What should the high-performance investment bank of the future look like? That may sound like an unusual question given the current challenges faced by the sector, but it is one that needs to be answered for one simple reason – investment banking must innovate now so it can seize the opportunity and play a full role serving the real economy over the coming years.
Eight years after the financial fallout of 2008 and faced with stubbornly high structural costs, heavy capital charges and stagnant revenues, investment banks’ returns on equity (ROE) continue to disappoint. Rather than take a long-term approach to future growth, many capital markets firms are still primarily focused on firefighting – delivering changes mandated by regulators or driven by external threats – rather than innovating.
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