Heard on the Street: Private banks move from “de-centralization” to “re-centralization”

1 March 2012 | 1 minute read

Private banks who lobbied hard for an arm’s length-relationship with their investment or retail banking counterparts in the aftermath of the financial crisis in 2008 are now beginning to re-work that model. “Independence is expensive,” says one senior banker who estimates cost-income ratios at most banks are stretched to as much as 80% with rising capital costs adding to the…

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