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BofA’s Meissner Sees Lower Margins for Banks, Handelsblatt Says

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Feb. 21 (Bloomberg) -- Christian Meissner, head of Bank of America Corp.’s corporate-finance and investment-banking businesses, said banks will have to content themselves with pretax margins of 10 percent to 15 percent, Handelsblatt reported, citing an interview.

Lenders may have to accept margins of 8 percent to 10 percent during certain times and for certain parts of their operations, he said, according to the newspaper.

Investment-banking activities may migrate to Asia from Europe in the longer term because of tougher regulation, Meissner was quoted as saying.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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