Analysis: Are European Lenders Facing a Retention Crisis?

[kreslik.news]

2017 was always going to represent a tough year for Europe’s biggest lenders, with a litany of industry headwinds, the lingering specter of Brexit, and other operational woes combining to erode the profitability of banks in the region.

The origins of this dilemma stem from several years ago, with rising labor costs in Europe’s financial capital, London, incurring mounting costs for European lenders. This trend was most clearly seen across trading desks, back office, and IT roles over the past few years, many of which were the first roles to be axed as lenders embarked on various ‘fix-it’ plans.

Banks have always ... (read more)