Global wholesale banking revenues have fallen by 23%, or US$70bn, in the decade since the onset of the global financial crisis, and returns on equity have halved for firms, according to consultancy Oliver Wyman. Capital markets have radically changed in the 10 years since BNP Paribas suspended withdrawals from three of its money-market funds - an event that many regard as marking the start of the financial crisis - and that has left wholesale banks with more work to address the impact the changes have had on returns.
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