Christopher Spink covers financial restructuring across Europe, as assistant editor for International Financing Review. He is currently focusing on the Eurozone crisis as well as regulatory developments as part of IFR’s People & Markets team. Previously he wrote about M&A for another Thomson Reuters title Acquisitions Monthly. During his 15 year career Chris has also covered AIM companies and venture capital backed businesses, as head of research and deputy editor at Growth Company Investor. He also wrote best-selling book, "How to invest when you don’t have any money", when he worked at investment website The Motley Fool.
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Europe’s banks lost further ground to their US rivals in the second quarter in debt and equities trading, led by a weak performance from Deutsche Bank as it continues to struggle with its turnaround plan.
Bosses at Europe’s leading investment banks said they were in no rush to start axing jobs in London as a result of Britain’s vote to leave the European Union, and said it was not likely to be clear for several years whether they would have to make structural changes.
Deutsche Bank’s weaker than expected performance at its all-important debt trading business, where revenues last quarter fell 19% from a year ago, could impact its aim of generating enough profit to fill its estimated €6bn capital hole by 2019.