European investment banks set for job cuts

7 September 2012

Investment banks in Europe are likely to have to make significant changes to their businesses in the coming years as the continent's debt crisis rumbles on.

That is the opinion of a number of analysts in the financial industry, who have told the Financial Times that conditions in this arena are unlikely to ease at any stage in the near future.

Over the course of the last two years, many lenders have attempted to improve the state of their balance sheets by implementing measures such as job cuts and reducing their level of investments.

And the head of a large global financier's investment banking division on the continent told the news source: "All business models are under severe pressure and almost everyone is losing money in investment banking in Europe."

The individual went on to say all financiers are still analyzing their cost structures to establish where they can save more money.

By Tony Aynsley

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