“New but not yet normal” is how McKinsey describes the current investment banking climate with profound regulatory change fast approaching. On the upside, companies have great need for refinancing, investors are less risk averse; trading and capital markets are running at pre-crisis levels. On the downside, with the withdrawal of government market support plus Dodd-Frank, top 100 banks’ return on capital will fall dramatically, predicts McKinsey.
The McKinsey article covers some of the following topics:
- Talent and innovation: Finding new formulas
- The pursuit of scale economies
- Shifts in risk taking
- Balance sheets: A new strategic weapon
- Local franchises matter
- Institutional relationships: Up in the air
- Restoring order
— Adapted from McKinsey’s June 2010 white paper, “The future of corporate and investment banking”. Eighty-five years old, McKinsey & Co. has grown into a global partnership serving two-thirds of the Fortune 1000.
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