JPMorgan’s endurance is posited on the basis that “it’s so big and good at what it does.”
And Deutsche’s preeminence is predicted because, “it’s the leader in Europe and Europe is still a big market.”
During yesterday’s presentation at the Morgan Stanley investor conference, JPMorgan’s CFO Marianne Lake pointed out that the bank is number one in nearly all areas of investment banking. Meanwhile, Deutsche Bank is going for growth globally even while European rivals like Barclays pull back. Sure, there are short term issues – Lake said that JPMorgan will be making redundancies in the investment bank and Deutsche Bank’s trading revenues reportedly haven’t been so hot in the second quarter, but long term they have set a course. If they stick to it JPMorgan, Deutsche and Goldman could be the triumvirate of banks to work for in the next decade.