Geeks at the gates

Banks could be "unbundled" if they reject technology overhaul

David Rowe

When Kohlberg Kravis Roberts bought RJR Nabisco in 1988, it inspired the book – later a movie – Barbarians at the Gates. The episode helped create the myth that financiers were the masters of the universe and became the stuff of nightmares for successive generations of corporate chief executives.

Today, there has been something of a role reversal. Most institutional financiers are mired in new regulations. More seriously, they are also struggling to find a path through a maze of legacy

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