US banks leave European rivals behind

摘要

It is now seven years since the onset of the financial crisis tore the global investment banking industry asunder. But on either side of the Atlantic, the degree to which firms have got back on their feet and adjusted to the new world stands in stark contrast. In Europe, almost every major player remains in retrenchment mode. Banks that once boasted big global ambitions such as deutsche bank, credit suisse and ubs are still shedding billions of euros worth of assets. For others, the immediate future is even bleaker: at barclays and rbs, cuts to the balance sheet will be accompanied by about 20,000 of jobs cuts.