Europe’s once-robust investment banking sector has relinquished significant turf to Wall Street in recent years. This may worry some Europeans, but professors Charles Goodhart and Dirk Schoenmaker see little cause for concern. They argue that the five big US banks will continue to engage in cutthroat competition with one another and with their Chinese rivals, and that European authorities still will hold some sway over the US banks.getAbstract recommends this report to bankers, policy makers and investors seeking insight into Europe’s shifting place in the world.
About the Authors
Charles Goodhart is an emeritus professor at the London School of Economics. Dirk Schoenmaker is a senior fellow at Bruegel and a professor of banking and finance at Erasmus University.