Barclays Ready to Dump Up to 7,000 Low-Return Clients

The transcript discusses a bank's strategy to reduce its client base using a new system called Flight deck, which ranks clients by return on capital. The bank aims to cut down from 32,000 to 8,000 clients. The discussion also covers the impact of low market volatility on client management and potential changes if volatility increases. It explores where the eliminated clients might go, including US banks or the non-bank sector. Finally, it predicts more mergers and acquisitions in the UK banking sector, driven by the need for consolidation and improved profitability.

What factors are contributing to the banks' need to be ruthless in client management?

What does the chairman of HSBC suggest is necessary for improving profitability in the European banking sector?