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Europe’s banks must reform to combat the rise of challengers

Business models need to be overhauled if incumbent banks are to keep up with new entrants

Longer-term, European banks need to challenge their core business models
Longer-term, European banks need to challenge their core business models Photo: Getty Images

Christian Edelmann is managing partner for Europe at Oliver Wyman

June's Eurogroup gathering of finance ministers in Luxembourg promised to offer more clarity on integrating European banking and capital markets. Instead, it was widely seen as a disappointment.

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