New Constructs CEO on Bank Earnings Week

The transcript discusses the challenges and strategies of traditional banks in adapting to market demands and technological advancements. It highlights the cyclical nature of investment banking, the performance of Morgan Stanley, and the commoditization of asset management. The discussion also covers the impact of fintech and regulatory differences, emphasizing the need for traditional banks to innovate and transform through acquisitions to remain competitive.

What are the key factors that may lead to the market punishing businesses relying on cyclical investment banking?

How does Morgan Stanley's performance in advisory fees and equity underwriting reflect on the overall market?

What challenges do traditional banks face in competing with fintech companies?

What strategic advantages do large banks have over fintech companies?

In what ways can traditional banks transform into more tech-savvy firms?