18 Nov 2020
European banks need cost-cutting not cross-border M&A
In an article published in the Financial Times on 15 November 2020, Jerry del Missier explains why he thinks European banks need to cut costs rather than enter into cross border deals. It is Jerry’s belief that “we require consolidation not across borders or between bloated giants, but domestically to reduce fragmentation and eliminate the subscale players.” Click on the link below to read the full article.
Click on the link below to read a Letter to the Editor in response to Jerry’s article of the 15 November 2020 (Tom Groom, EY Head of Financial Services Strategic Cost Transformation for EMEIA, and UK Head of Financial Services Strategy and Transactions). Published 19 November 2020.