Feb 15, 2019
Why European banks fall short on Wall Street
If Mr Bramson and Deutsche's investors succeed, European banks will no longer try to compete head-on with big Wall Street firms. Most of the European banks that most please investors have pulled back from volatile and risky investment banking in favour of steadier consumer banking in domestic markets, and investment management. There is a long history of European banks going to New York and trying to break into Wall Street. For big European companies and investors, the imbalance of power between US and European banks may not seem too troubling at the moment - there is always someone to serve them. It is more than sentimentality to hope that at least one European bank can maintain a top tier presence on Wall Street.
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