Investment bankers surveying the wasteland that is their future profitability in a post-crisis world may be forgiven for agreeing with the line from the Monty Python song: “Life’s a piece of shit, when you think of it.”
But if a report last week from Morgan Stanley and Oliver Wyman on the future of the industry is anything to go by, they could soon be singing the chorus: "Always look on the bright side of life."
