Investors’ Message for European Banks: Forget About Wall Street
- Stock investors reward wealth managers after initial earnings
- Investment bank units struggle to keep pace with U.S. peers
This article is for subscribers only.
Investors have a message for Europe’s banks: you can’t win with investment banking -- even when you do.
The market has been calling for some time on Europe’s banks to seek their fortunes away from Wall Street. After lenders’ first profit indications for the start of 2018, buyers rewarded Credit Suisse Group AG for doing just that, while punishing Barclays Plc and UBS Group AG, in part because their results owed too much to the volatile world of trading stock and bonds.