The team seems to be hiring a slew of senior folks promising to change CIB markets ranging from technology to legal and risk and controls, along with announcing a lot of reorg.
Is this business even capable of adapting to modern markets and technology where the larger players have owned majority of the market share?
It seems like all of these new hires are from better firms that had sizeable markets operations but I wonder if change will ever happen.
All this means less opportunity for promotions and more reorgs/political fights for middle management with the possibility of layoffs/cost cutting.
Any input on CIB markets would be appreciated.