| IFR

IFR Future of IBD Roundtable 2015

IFR’s Future of IBD Roundtable, covering the primary origination and advisory businesses (capital markets underwriting and advisory), was a fascinating foray into a key set of client-facing businesses. These are businesses that may not have been a target for re-regulatory endeavour but they are businesses that have nonetheless been directly impacted by strategic efforts afoot in play across the industry as a result as banks seek to manage the seminal transformation from bloated revenue-seeking institutions to lean return-seeking institutions.

To purchase printed copies or a PDF of this report, please email leonie.welss@lseg.com and shahid.hamid@lseg.com

IFR Future of IBD Roundtable 2015: Particpants

John Langley Barclays John Langley is head of global finance and risk solutions at Barclays based in London, overseeing ECM, DCM, leverage finance, loans and risk solutions. He joined Barclays in 2006 to lead the EMEA risk solutions group and assumed global responsibility in 2011. He added joint responsibility for the global finance businesses in 2012, and took on his current role in 2014. Before Barclays, he spent 11 years at Merrill Lynch and started his IB career at Chase Manhattan Bank in 1990. Sophie Javary BNP Paribas Sophie Javary has...

IFR Future of IBD Roundtable 2015: Part 1

IFR: Welcome to this IFR Roundtable on the future of IBD. The purpose of today’s discussion is to address some of the key questions around where this industry is headed. The majority of discourse around regulatory and strategic change in the investment banking sector has been focused on the trading businesses so I thought it would be instructive for us to evaluate how it is affecting how the origination businesses as conducted by the major firms. It’s hard to have a conversation these days about any aspect of investment banking without people...

IFR Future of IBD Roundtable 2015: Part 2

IFR: Mark, from your position as a service provider to the banks, how do you respond to some of the issues that have come up so far? Do the issues we’ve discussed so far reflect the key themes you confront when you talk to clients? Mark Rodrigues, Thomson Reuters: Yes. We’ve talked a lot about regulation and how that impacts business decisions and priorities and we’ve talked about funding, whether that is direct from shareholders or other markets, and the efficiency of the funding mechanism. But I want to start with the customer. There was a...

IFR Future of IBD Roundtable 2015: Part 3

IFR: On the issue of capturing emerging opportunities, is there a right way or a wrong way to set up your coverage function versus your product function versus your country function in today’s world? Are there models that tend to work better? William Vereker, UBS: It’s the right question to ask because the traditional investment banking business, as we discussed earlier on, is a very high ROE business. So the cost problem, per se, of a financial institution doesn’t for the most part lie in this part of the business; it lies in all the ops and...