Steve Slater is associate editor of International Financing Review based in London and is responsible for the People & Markets section. Steve has worked for Thomson Reuters since 2001. He joined IFR at the start of 2016 after a decade covering European banks for Reuters, including the financial crisis bail-outs and nationalisations, takeovers, senior management changes and industry scandals. He has worked as a financial journalist in London and New York, covering commodities, equities and banking and capital markets.
European banks had their lowest market share of global investment banking fees in the first half of this year for at least 19 years, and Asian rivals have been the main beneficiaries.
HSBC last week ousted its chief executive John Flint after only 18 months in the job and said it will cut thousands of jobs, surprising investors and showing the bank wants to speed up cost cuts in a challenging environment.
Citigroup has promoted Andrew Truscott to co-head UK investment banking alongside Jan Skarbek.