| IFR

IFR Future of Investment Banking Roundtable 2013

Investment banking is in the midst of seminal change. The post-financial crisis era has forced a convergence of regulatory, political and cultural change factors that, together, are beyond the vagaries of mere cyclical elements. That was the essential outcome of IFR’s Future of Investment Banking Roundtable.

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

IFR Future of Investment Banking Roundtable: Participants

To view the digital version of this report please click here. Andrew Goulden DELOITTE Andrew Goulden is one of Deloitte’s most experienced investment banking partners with over 30 years’ experience in the sector. He has deep expertise in operating models for global investment banks across all business divisions. He has led many large scale cost reduction and transformation programmes for leading investment banks. Harps Sidhu KPMG Harps Sidhu is currently a UK Management Consulting, FS Capital Markets Partner and leads the relationships for some...

IFR Future of Investment Banking Roundtable: Part 1

To view the digital version of this report please click here. IFR: The subject of today’s discussion is in many ways a daunting one. We’ve been through a fascinating four or five years in the investment banking industry, which is contending with regulatory, supervisory and strategic challenge in an environment of poor economic growth. We’ve seen banks deleveraging, re-strategising, recalibrating their client relationship models, trying to integrate their back office and technology infrastructure and attempting to figure out who and what they...

IFR Future of Investment Banking Roundtable: Part 2

To view the digital version of this report please click here. IFR: Some of the punitive capital charges on certain products seem fairly arbitrary to me, whether it’s project lending or long-dated swaptions trading or whatever. If the intent is to create a utility banking model, does investment banking fit a utility banking model? Harps Sidhu, KPMG: We talk about paradigm shift, I think that’s there. There’s no way the regulator is going to back down on issues like remuneration, like high capital charges on esoteric products. There are going...

IFR Future of Investment Banking Roundtable: Part 3

To view the digital version of this report please click here. IFR: So what does all of this mean for not just bank strategy but for market stratification? Back in 2006, there were probably a dozen and a half banks that had aspirations to be global and multi product and they didn’t see any kind of impediment to that being achieved. Today, we could probably agree that there may be half a dozen firms that can attain or want to attain global bulge bracket status. Where does the rest of the industry stand? Matthieu Lemerle, McKinsey: I remember a...