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For starters, they've cut back on proprietary trading considerably. Before we had quite a few prop traders who would invest the bank's funds in equities and I b
by Permit 14y ago
For starters, they've cut back on proprietary trading considerably. Before we had quite a few prop traders who would invest the bank's funds in equities and I believe only five of them remain. So the bank as a whole is less willing to risk its own funds through traders and prefers to make its money facilitating access to various markets or offering retail trading services.
Management has shifted their focus and puts a lot more emphasis put on generating small and steady profits as opposed to massive bonuses for large profits.
- gph 14y agoThose are good changes and hopefully they last. But to be bluntly honest I feel like all it will take is some time to pass and the next boom cycle to come and the same gunslinger-types will regain the management reigns with the same old outcome. Edit: Just want to add I don't have any particular idea how to solve this type of problem, so I'm not trying to condemn you or those in your profession.