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Banking Supervision Needed at EU Level, Speyer Says
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July 9 (Bloomberg) — Bernhard Speyer, head of financial market regulation at Deutsche Bank Research, talks about European banking supervision and Barclays Plc's Libor scandal. He speaks with Francine Lacqua on Bloomberg Television's «City Central.» Andrey Kostin, chairman of VTB Bank OJSC, also speaks. (Source: Bloomberg)
Enlarge image Investment Bankers Face Termination as Fees in Europe Plummet

A logo sits on the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland. Photographer: Gianluca Colla/Bloomberg
Enlarge image Investment Bankers Face Termination as Fees in Europe Plummet

At Deutsche Bank AG, revenue per employee at the corporate banking and securities division fell by 14 percent since 2006. Photographer: Mario Proenca/Bloomberg
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Credit Suisse Group AG (CSGN) and UBS (UBSN) AG, Switzerland’s biggest lenders, face the most pressure to boost efficiency as that country runs ahead of others in introducing tougher capital and liquidity rules to curtail risk-taking, making some businesses unviable. The banks’ securities units had the highest costs as a proportion of revenue among a group of the 12 largest firms in Europe and the U.S. last year, Morgan Stanley analysts Hubert Lam and Huw van Steenis wrote in a May 24 note.

While the situation may be most acute at Credit Suisse and UBS, similar dynamics are at work at other firms as the debt crisis drags on, capital requirements ratchet higher and economic growth grinds to a halt.

“Bankers are really gloomy and a lot of people are worried about their jobs,” said Edward Cumming-Bruce, a partner at London-based advisory firm Gleacher Shacklock LLP who has more than 20 years’ experience. “Banks are under remorseless pressure to cut costs and balance sheets as we witness a significant change in the way the financial industry works.”