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December 2017 issue.

“Now, it’s about internally changing what we’re doing or, in a large-scale way, Facebook and Google will come in and do it for us. We’re not immune to the pressures that exist in every other industry” 

One senior banker doesn’t see only Morgan Stanley as his main competition in sales and trading

“There has been an almost comical attempt to pretend that ICOs are not securities just so as to avoid SEC regulation. But eventually we will come to a recognition that of course they are securities, effectively equity securities. That’s simply a work in progress”

A fintech source responds to Euromoney’s request for comment on analysis that more value has been raised through ICOs this year than through IPOs

“There are three Cs here: cultures, colours and contrasts. But there’s a fourth, too: chaos. Chaos is good. Chaos creates innovation”

Greed is good, India-style

“We are not in the business of doing new things any more. We are in the business of doing the same thing over and over and not making any mistakes”

One banker gives his rather bleak view of banking in 2017

“Like many of you, I used to be sitting on a table”

Something lost in translation at this Mumbai conference keynote?