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.
Banks are facing seismic changes from the impact of new technology that is likely to see many collapse - akin to the near-death of Kodak from its failure to move with the times, a former boss of Barclays has warned.
Tough trading conditions have continued during the fourth quarter, putting investment banks on track for another annual decline in revenues.
UBS has appointed regional heads of its corporate client services business, which incorporates M&A and its equity and debt capital markets units. The Swiss bank said the move should allow each region to be more nimble and adapt to local issues.