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Theme: BIS Basel 3 regulatory consistency assessment

BIS Basel 3 regulatory consistency assessment The BIS preliminary report on the progress of the implementation of Basel 3 on capital requirements in the EU, the US and Japan drew sharp criticism from the European Commission. We find the BIS’ findings, on the whole, fair and measured. We have made no changes to our normalised RWA […]

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Tricumen Approaches: The Bank of the Future

The Bank of the Future New regulations and tighter margins have depressed ‘typical’ wholesale banking pre-tax RoE to about 19%; the outlook is not optimistic. In our view, future leaders will operate a new wholesale banking model, one which utilises hitherto neglected synergies between the ‘traditional’ capital markets operations with other areas of the bank; […]

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Sector: Capital Markets 2Q12 Update

Performance of the Top Investment Banks in the 2st Quarter 2012 Tricumen publishes its Capital Market Results Update for 2Q12, comprising granular analysis of product revenue for the world’s leading Investment Banks. =

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Banks: Bob Diamond’s Tenure at Barclays

Bob Diamond’s Tenure at Barclays – A Review With Bob Diamond’s resignation from Barclays, it is worth taking stock of his impact.  Tricumen’s review charts the growth of Barclays Capital into a top tier investment bank and sets out BarCap’s revenue growth from 1998 to the present day compared to average revenues of the Top […]

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Theme: EMEA Equities

The resilience of ‘low touch’ Tricumen today publishes an analysis of the European cash equities market looking at the use of ‘high touch’ vrs ‘low touch’ and the impact of ‘low touch’ on the cost income ratio of cash equity trading units: We see no evidence of European investors shifting away from low to high […]

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Banks: J.P.Morgan’s CIO Unit

J.P.Morgan’s CIO Unit Tricumen today publishes details on J.P.Morgan’s CIO unit setting out its functions and historical performance.  We identify similar units at HSBC and Goldman Sachs and examine whether the recent losses support the view that prop trading should be curtailed through measures such as the Volcker rule.

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Theme: Basel Committee trading book proposals

The Basel Committee trading book proposals Tricumen today publishes its initial analysis of the Basel Committee on Banking Stability’s trading book proposals: Our initial analysis of the Basel Committee’s 3-May-12 consultative document suggests that the most stringent application of all proposals could increase risk-weighted assets (RWA) at CIB units of banks we cover by as […]

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Sector: Capital Markets 1Q12 update

Performance of the Top Investment Banks in the 1st Quarter 2012 Tricumen today publishes its Capital Market Results Update for 1Q12, comprising granular analysis of product revenue for the world’s leading Investment Banks.

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Theme: Equity Derivatives in Asia ex-Japan

A Maturing Equity Derivatives Market in Asia ex-Japan The equity derivatives market in Asia ex-Japan is growing, and maturing.  Investors seek lightly structured, tailored product.  In our report we highlight 16 significant market segments, as defined by the size of clients’ ‘wallets’.   Successful banks appear to have a ‘balanced client portfolio’ across multiple segments, […]

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Sector: Capital Markets FY11 update: Products & Regions

Our initial ‘Ground Europe’ 4Q11/FY11 Results Update, published on 18-Feb-12, outlined our high-level forecasts for what we believe will be the key areas in 2012. This report details FY11/FY10 product and regional revenue trends for 21 ‘Level 2’ products1.

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