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Outlook for European banks remains positive: Oliver Wyman
  + stars: | 2024-04-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOutlook for European banks remains positive: Oliver WymanChristian Edelmann, managing partner for Europe at Oliver Wyman, discusses the outlook for European banks.
Persons: Oliver Wyman Christian Edelmann, Oliver Wyman Organizations: Outlook, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShift underway to more headwinds for European banks, analyst saysChristian Edelmann, managing partner for Europe at Oliver Wyman, tells CNBC's Joumanna Bercetche that there is a shift from tailwinds to headwinds for European banks when it comes to net interest income, and this will be key to watch in earnings over the next few days.
Persons: Christian Edelmann, Oliver Wyman, CNBC's Organizations: Europe Locations: headwinds
“With us, you know what you get, which is rare nowadays!” Alexandre Edelmann, head of Presence Switzerland, a government agency that promotes the country abroad, says in an email. “People love our country without always knowing why,” says Jacques Pitteloud, Switzerland’s ambassador to the U.S. and a veteran diplomat. We are constantly leading the pack in terms of innovation.”This is evident in the prominent role Switzerland plays in some key areas of the global economy. Acknowledging "the elephant in the room," Pitteloud says Switzerland and the EU have "a complex relationship." And as a relatively small, landlocked country in which many areas are difficult to inhabit due to terrain, Switzerland is facing challenges related to population and resources.
Persons: Roger Federer, Philippe, , Alexandre Edelmann, , Jacques Pitteloud, Pitteloud, ” Delphine Donné, Ruag, yearslong, ” Georg Klingler, Donné Organizations: Wimbledon, U.S . News, European Union, Bank, Presence Switzerland, Nestle, Roche, Novartis, Atlas, Logitech, ETH Zurich, Zurich University of Applied Sciences, EU, Greenpeace, Associated Press Locations: Switzerland, Europe, U.S, Swiss, France, China, Canada, Lausanne, Ukraine, Greenpeace Switzerland
This, regulators say, makes it harder for banks to cut costs and absorb losses in a downturn. But many bankers are expected to resist swapping guaranteed pay for potentially higher bonuses, which can swing wildly across economic cycles. UK Finance, the industry body for banks in Britain, did not respond to the public consultation, leaving individual members to comment if they wanted to. Others warned against overplaying the significance of bonuses in Britain's battle to grow its financial sector, still reeling from the loss of big-ticket listings, such as Arm Holdings. "Compensation is a small point in the grand scheme of things of a vibrant financial sector.
Persons: Toby Melville, Luke Hildyard, there'll, Suzanne Horne, Paul Hastings, Horne, Simon Patterson, Edelmann, Oliver Wyman, Sinead Cruise, Huw Jones, Tomasz Janowski Organizations: City of, Regulators, European Union, Bank of England, Financial, Bankers, Reuters, European Banking Authority, International Employment, Britain, EU, Finance, Arm Holdings, Thomson Locations: City, City of London, Britain, Banks, European, New York, Singapore, EU, Paris, Frankfurt, United States, Japan, Switzerland, London, Europe
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