Barclays CEO discusses restructuring plan, JP Morgan expert optimistic about equities, Fed expected to hold rates steady, podcast explores AI impact on markets and economic indicators post-pandemic
Barclays plans $12 billion return to shareholders and sovereign wealth fund relationships, Equities are favorable in S&P 500 according to JP Morgan's Global Investment Opportunities Head
Deep dives
Nationwide's Financial Plan Focus
The importance lies in a plan by Nationwide to increase their ROTE to 12% from the current level, return about 10 billion pounds to shareholders, and transform into a global banking leader. This plan includes establishing a broad diversified bank centered in the UK with a reduced investment banking profile aiming to diversify revenue streams.
Investment Banking Expansion and Talent
Nationwide's investment banking plans involve a shift towards more advisory fees to enhance return on capital. Organizational changes and hiring skilled bankers in sectors like healthcare and technology aim to drive growth and diversification. The company's recent advisory success with EQT sale demonstrates the positive impact of these strategic hires.
Importance of Diversification for UK Banks
Being a UK bank offers advantages like diversifying counterparty exposure in a de-globalizing world, London's historical financial prowess, and UK law governing financial contracts. Nationwide aims to leverage these strengths while highlighting the importance of the City of London in finance's global landscape.
Barclays CEO C.S. Venkatakrishnan discusses Barclays' three-year restructuring plan that aims to return over $12 billion to shareholders and expand relationships with sovereign wealth funds. Monica DiCenso, Head of Global Investment Opportunities at JP Morgan Private Bank, says equities are well-positioned across the S&P 500. Sahm Consulting founder Claudia Sahm, former Federal Reserve Economist & Bloomberg Opinion columnist, says she expects the Fed to hold rates steady on Wednesday and hopes for 'most boring meeting ever.'