Falling revenues and pending regulation in investment banking, coupled with increased capital requirements, have made private banking an attractive sector to be in for financial institutions.
Global reach has always been the defining measure of success. The largest players in the industry are from Europe and the US; as emerging markets boomed, they spent five years expanding into Asia and Latin America to ensure they can claim to be truly global.
Yet during the past 12 months, the economic landscape has shifted.
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