Some of the world's biggest banks are getting smaller as they confront pricing pressures, a new regulatory environment and more onerous capital requirements that have left them with lower returns, Yahoo reports
(NYSE:C), (BAC) and Switzerland's UBS have all announced
major restructurings as they confront a more challenging environment for
financial services globally.
Ken Moelis, founder of advisory firm Moelis & Co., said
banks are facing the same problem that many big electronics retailers are
facing with the growth of "showrooming." The proliferation of mobile
devices and online services has made it easier for shoppers to check out a TV
or tablet at the store and shop online for a cheaper price……
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