Bankers said on Thursday that European groups such as Credit Suisse, UBS, Deutsche Bank and Barclays could benefit over US rivals from US bank trading rules announced Thursday. The rules would hit foreign banks with proprietary trading operations. But some foreign banks believe they could escape the ban by switching some operations from Wall Street to London or continental Europe. Many European banks say pure prop trading amounts to only 1-2% of revenues, against more than 10% for Goldman.

This entry was posted by Gwen Robinson on Friday, January 22nd, 2010 at 5:39 and is featured in The 6am Cut London (22 Jan 2010) . Tagged with barclays, credit suisse, deutsche bank, goldman sachs, ubs. Edit this entry.