The European Central Bank has communicated to global investment banks the final headcount and set-up their trading desks will need to have in the euro area, bringing a formal close to efforts that started when the UK voted to leave the European Union in 2016.
“We have turned the corner,” Andrea Enria, who leads the ECB’s Supervisory Board, said in an interview. “I’m very proud of this process. It was not a territorial grab of business. It was very prudential, very focused on risk management.”
“We have just sent the banks final decisions on what we want them to do with respect to individual desks,” Enria said. “Some of them have already sufficient risk management capabilities in those desks. Some of the desks need to be beefed up.”
France Dernières Nouvelles, France Actualités
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