Masterly inactivity

31 March 2003

Bankers are waiting to see what the situation is like after the war ends before deciding what to do. But it will take a big postwar recovery in the markets if there aren’t to be more big cuts.

This content is for Subscribers only

Context News

Investment banks are thought to be waiting on the conclusion of a war in Iraq before deciding whether to shrink their businesses further. According to one senior executive at a major firm, substantial job cuts may be needed if there is not a rebound in market activity.

Investment banks had a reasonable first quarter, mainly because the fixed income business continued to perform well. First quarter results from the major quoted US investment banks were significantly above market expectations.

Email a friend

Please complete the form below.

Required fields *