From the WSJ report: “…..Welcome to the new Wall Street, where back-office work trumps backslapping. For all the talk that "Wall Street is back," bad habits and all, from the ravages of the 2008-2009 crisis, there are signs that the financial industry is undergoing a profound transformation.
It has taken half a decade of denial and trial and error, but some of the world's largest banks seem to be close to figuring out how to make money in an environment of tighter rules, less benign markets and more demanding customers….
The new normal still is a work in progress. But the first glimpses suggest that the global banking sector will be less crowded at the top, more boring and generally less profitable for both shareholders and employees. The hope is that it also will be less prone to regular blow-ups.
Read all about it at http://online.wsj.com/article/SB10001424127887323463704578494740076540374.html