Here's some interesting quotes we found in the press this week.
'If you are the bank that decides to cut bonuses for the most important people, you'll be the first with a franchise-destroying decision'.
Sir Philip Hampton, Chairman, Royal Bank of Scotland (The London Evening Standard)
'There are still many people who are convinced that bankers just don't get it. Difficult though it may be, we must prostrate ourselves in the face of public sentiment and continue to do so until there is a genuine belief that we regret what has happened and the part we played in it'.
Marcus Agius, Chairman, Barclays Bank (The Guardian)
'Obsessing about league tables damages Wall Street. It is inward looking as opposed to client facing'.
Jes Staley, CEO JPMorgan Investment Bank (The Times)
'If I'm a highly rated analyst I don't understand why I'd sit in an investment bank, in a highly regulated environment where I am now personally liable for all kinds of things, in a tax regime where I give the government half of what I earn. Some of the smart people are looking for easier and better ways to make a living'.
Richard Balarkas, CEO, Instinet Europe Ltd (Bloomberg)
'We (the industry) have too many traders that have been trained to be aggressive, now they need to be more thoughtful, more focused and more flexible'.
Roman Regelman, partner, Booz & Company (Reuters)
'The Lehmanization of this tradition-bound Japanese bank (Nomura) is startling. The head of investment banking came from Lehman. So did the Chief Risk Officer....The top global economist, the co-heads of fixed income, senior salesmen, traders - the list goes on'.
The New York Times
'October may bring more of a 'Trick' to investors than a 'Treat'. We remain defensive, expecting a correction that could be up to 10 - 12%'
Bank of America Merrill Lynch analyst Mary Ann Bartels (CNBC)
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