Spencer Anderson is a senior report at IFR on the people and markets desk. Since joining in 2011 he has written extensively on banking regulation, tax issues and capital markets. He was previously with the Financial Times.
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Years of scandals, losses and cutbacks have lessened the allure of being a banker or trader, with the financial sector now no longer the most popular destination for aspiring graduates, according to a study from consultancy Deloitte.
JP Morgan stretched out its lead atop the investment banking fees league table in November, putting the lender on target to finish the year in the top spot once again. The firm saw its market share rise 20bp during the month to 7%, while its nearest rivals were either flat or had lost share.
Bankers at systemically important European firms have warned that the Financial Stability Board’s latest TLAC proposals will give smaller banks a competitive advantage, but look set to be disappointed by European regulators who they had hoped would resolve their concerns.