After what we've seen from the U.S. investment banks, expectations are pretty high. If they don't produce the results, then that could be a problem. |
I think consolidation will move ahead and the first reason is that banks are flush with capital. |
Me-too deals will occur or at least be proposed but hopefully the market will prevail and tell managers such deals won't be executed. |
Sir John is leaving a great legacy. |
The business is less profitable today than it used to be and the mix has deteriorated. |
The results are very strong. We are particularly encouraged by the private banking results and especially by the net new money inflow, which was very strong. |
The vast majority of people in the Middle East feel more comfortable putting their money in Credit Suisse or UBS than in U.S. institutions. |
We think consolidation will continue to be a big driver in the sector, both cross-border and for domestic deals. |