Feb 17, 2020

City has fallen out of love with investment bankers

City investment bankers might want to follow his advice. Results from RBS and Barclays, which reported last week, and HSBC, which does so on Tuesday, show three British banks with mixed affections for investment banking. Tuesday's likely job cuts and strategic revamp move it closer still to RBS. Shrinking its investment bank would free up capital. Barclays' investment bank still dilutes return on equity for the group, and compares poorly with top-of-the-class returns at US rivals like JPMorgan. Then if investment bankers didn't back investment banks, who would?

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