Investment banks and the 'Industrialisation of Finance'
Since the economic crisis, global investment banks (GIBs) and the bankers who run them have been denounced in the media as having contributed to -- if not having caused -- the largest financial meltdown since the Great Depression, triggering massive government-led bailouts. Today, the panic of the crisis years may have subsided, but damage in the investment-banking industry remains – which is dangerous to the overall economy, given the important role the industry plays in capital formation and business growth. For GIBs to thrive again, they must not wait for further governmental actions and regulations but rather transform themselves from within, implementing 10 strategic steps for a sustainable future. That’s according to a study by AlixPartners, the global business-advisory firm.