Aug. 2 - Memo to new RBS boss Ross McEwen: HSBC is your model, not Lloyds, says Reuters Breakingviews
Agenda setting his sights I would our culture -- -- is breaking views today. The banks again while BS should they need to be more than just a -- this copy with me is -- breaking news bank economist George had a good to have you back to what's been a busy week for you I'm. All right what I should start with -- -- Q and the new C. What do you make this cut. Well he's probably quite -- and so it's because he's. In the government its -- sentence shareholder you know BS. -- today it seems to. Clearly won't sell -- to be more retail commercial bank rather than investment bank gets his experience largely is in retail banking. He'll say of musical experience in and Australia this way he's unfold these companies on do you believe what sentences. On all the experience he's -- Roy got the deal. Everyone's comparing our PS2 -- you think that sort of slightly. Misleading comparison HSBC is probably bats because of the corporate lending slash investment banking side. I mean it was a big corporate bank as well but the points is really and -- ago or so ago. So very few billion of them market investment banking risk weighted assets. And the question is how many if not how much of that investment bank. He's needed to award is probably going to. Don't want to be in turning mobius is -- -- corporate -- to realize BP you'll get and they kind of companies. And says still needs an investment bank and it needs to kind of I lost the question that says how much is the genuine. Corporate lending tenets of -- since it's in a big corporates have on how much is the how much of it is. This. And casino type investment banking. Book it's. The problem is a bit of the banks that intends to kind of and disclosed that took kind of some of decency. There will be available later davis' casinos of course but we'll get a sentence from how much cops arrest at a us probably. I mean assuming this is what he is getting to -- week we -- we -- -- he should do -- in the navy uniquely government and insanity. We need to need to be investment bank -- to suppress news. How many days ATA these billions. -- -- Are actually genuine talent that is very difficult so from the outside but as you say who he will be out so if he -- down that -- It -- taken -- ourselves making these cuts. Cody -- and stuff that's. Festival festival -- thoughts and see whether the government in September -- -- this always seagate and this good bank bad bank split which is an entirely different debate this is it's not necessarily focus on the investment bank is more to do it obvious -- And of that dot facets in in you know Stan and don't know about it. I was to blame the loss making and it's quite possible that the government might just -- they would only two days. It and respectability that access so when do we -- way nets who into the end of the year in the various courts. No word on on the numbers themselves and it -- that the stock is down ball 5%. Maybe you've been a little bit more now. The story mark conclusion on what I heard on the on the numbers because I think they they like what they hear on the C -- aside I I think they -- because compared to say that Hoover gives a -- like these that this isn't a good. I've been put before it is that puts him. Bullock. Obvious says are up 5% yesterday on the basis of good -- results. And so people assuming that that would have you read across intend to outlining Colombo month. And profit. But how much he comes across the Soviet polity in fairness because -- -- And ways though it was Lloyds is kind of more kind of straining of police say. And they still well look I mean dozens and in Saudi separate payment prosecutor has these just go to -- I -- the bank as well. Okay -- get just as they age is easy to go on Monday and many go -- -- absolutely. He -- -- carpenters excellent and I took four agenda setting got financially as I what's -- US Sprague and you show every day 12:30 eastern. Seventeen petty BST. IMAX Acropolis is Francis.