Bank strategy and results
BNP Paribas has set out an ambitious plan to increase the return on equity of its corporate and investment bank by almost half over the next three years to 19% in 2020.
Societe Generale had a more muted boost from fixed income volatility than many rivals from US elections last quarter, partly due to a tougher comparative with the end of 2015 when it outperformed others.
Deutsche Bank fired about 300 more staff last week as part of its attempt to cut costs and improve profitability, and faces another shake-up in its senior ranks with the possible departure of investment bank chief Jeff Urwin.
Goldman Sachs’ decade-long struggle to break into the restructuring game may be at an end as the latest man to run the bank’s effort, Roopesh Shah, taps out.