Banks are getting back to basics

Massive legal bills and stuttering shareholder returns force large financial institutions to rethink their strategies

14th June, 2015
Banks are getting back to basics
The City of LondonGetty

Shake-ups at HSBC Holdings and Deutsche Bank highlight Europe’s struggle to adapt to the post-financial crisis landscape. The giant financial institutions are struggling to bolster shareholder returns amid rising regulatory requirements and waning trading revenue. As a result, the focus has shifted to deeper expense cuts.

HSBC, Europe’s largest bank, said it will cut as many as 25,000 jobs through 2017 as chief executive officer Stuart Gulliver seeks to trim costs by about...

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