The chairman of Barclays
has said European investment banks should consider merging to create a regional champion to compete with US rivals, highlighting the anxieties of senior bankers in Europe about their sector’s future.
“If you did want to create an investment banking champion for Europe you would have to combine the investment banking arms of the main players but you would have to swallow really hard and you would need political support,” John McFarlanetold the Financial Times.
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