'Glass-Steagall is back' – RBS op risk head
New market structures have given operational risk primacy over market and credit risk, the OpRisk Asia conference heard today
Regulatory changes and industry restructuring have effectively doomed the universal bank model – and led to the return of the US Glass-Steagall Act by the back door, the OpRisk Asia conference in Singapore heard today (July 30).
David Sharratt, head of Americas operational risk at RBS, said the universal bank had had its day. "Universal banks are much less profitable now, and there is pressure for
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