News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

The fix for low banking returns doesn’t lie in mergers

Bankers love to think about mergers, but they aren’t a simple solution to the problems of Europe’s lenders, even within the same country.

UniCredit shares plunged Tuesday after Chief Executive Jean Pierre Mustier said he was stepping down over a disagreement about the strategic direction of Italy’s second-largest bank. A widely respected figure, Mustier had pushed back against board pressure to do deals, favouring capital returns to shareholders.

WSJ Logo