The Future of Corporate Banking
Hey everyone!
I am wondering what you think about the future of the corporate banking industry (as a career path)?
Some weeks ago, I have participated in a university discussion with a leading European corporate banker from a top-tier institution, and he made clear that corporate banking is on the verge of becoming a platform industry, meaning that all the banks not only sell their products, but also supply the platform for other products for its clients from competitors (like amazon or ebay). Moreover, the competition in the corporate banking industry is intense, and European banks face a concerning price competition due to increasing regulation.
Since I am a more risk-averse person when it comes to job-security, I am wondering what you think about the opportunities and risks of a career in Corporate Banking. Will the CB industry chance drastically in terms of opportunities and compensation? Will corporate bankers still be needed in 20 years from now on?
To me personally: I am pursuing a bachelor’s degree in business and through two M&A internships at leading institutions, I am on the best way of breaking into European investment banking. Nevertheless, due to the better WLB, I still consider corporate banking as a fulfilling and interesting career.
Thanks for sharing your thoughts!
I interned at one of the US banks that's considered to have a very good CB team. Probably the top most CB team. Even though we mainly focussed on term loans and rcfs, the other products like cash mgmt etc.. Which made a good chunk of revenues, especially in the low interest environment we have.
About the things you asked, I observed a couple of things.
(I) Yes the industry is transforming a bit now, when I comes to being a platform. There's been more focus on on boarding the clients' clients onto the platform.
(II) They use more and more of technology to help them. Honestly don't know how. But they use AI to predict the cash management needs, APIs to help the clients get their banking info etc. (Similar to neo banks)
Thanks for your perspective!
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