One-fifth of the world’s biggest banks may be broken up or sold as part of a “radical course correction” to boost shareholder returns, according to McKinsey & Co..
The number of global universal banks may drop to fewer than 10 from about 25 as they narrow their focus on products or regions, the consulting firm said in an annual review of the industry released today. Ninety global lenders are generating higher returns by following one of five distinct strategies described by McKinsey, according to the report.
