As western economies teeter on the edge of recessions, the banking industry itself is caught in the middle of a period of deep structural change. There have been tens of thousands of job cuts in banks this year. As the bloodletting continues in Switzerland, could it be that the bonus bonanza is now over for bankers? (SF/swissinfo.ch)
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Big banks underwhelm with strategy “changes”
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Both banks have recently signalled their intention to scale back investment banking operations under the guise of putting wealthy clients first. But the changes have not gone far enough for some observers. In a note to investors, Bank Sarasin described UBS’s restructuring – announced on Thursday – as “evolution not revolution”. The note expressed disappointment…
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.