Investment Banking

The fix for low banking returns doesn’t lie in mergers

Bankers love to think about mergers, but they aren’t a simple solution to the problems of Europe’s lenders, even within the same country.

UniCredit shares plunged Tuesday after Chief Executive Jean Pierre Mustier said he was stepping down over a disagreement about the strategic direction of Italy’s second-largest bank. A widely respected figure, Mustier had pushed back against board pressure to do deals, favouring capital returns to shareholders.

WSJ Logo
Big Banks Are Spinning Market Chaos Into GoldExternal link

Big Banks Are Spinning Market Chaos Into Gold