Henry Grunfeld Professor of Banking, Dr Peter Hahn appeared on CNBC to discuss what the future holds for the banks and the markets in which they operate.
Discussing recent figures from <a ?cid="PS_01_05_07_00_00_00_02&mkwid=iu6AW4a2''">Goldman Sachs, Dr Hahn discussed how banks are largely re-orientating themselves away from being principals to asset managers and moving more towards retail services, becoming less reliant on trading.
The discussion then turned on to the matter of cultural change on Wall Street and whether the US Presidential Election would ultimately result in the repeal of the repeal of the Glass-Steagall legislation.
Commenting, Dr Hahn said:
""Inter-finance trading and long-term volume of trading is declining; this is largely because investment banking was traditionally dominated by banks supporting other financial corporation.""
View Dr Hahn's full interview with CNBC here.