首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
European banks’ fourth-quarter earnings, releases of which are clustered around early February, have been surprisingly optimisti
European banks’ fourth-quarter earnings, releases of which are clustered around early February, have been surprisingly optimisti
admin
2022-11-01
214
问题
European banks’ fourth-quarter earnings, releases of which are clustered around early February, have been surprisingly optimistic. Yet the chronic illness that has dogged the industry for years remains. Interest rates are rock-bottom, compressing lending margins. Lenders must set aside lots of capital to reassure watchdogs, which depresses returns. And Europe has too many banks, which constrains scale and profits. UBS forecasts the European sector’s return on tangible equity (ROTE) will hit 8% by 2022—above last year’s 5.6%, but still below its cost of capital of 10%. Its price-to-book ratio hovers around 0.5, below its lowest point in 2009.
Much of that has been outside bosses’ control. The current bosses, drafted in to restore lenders to health in the 2010s, has also managed to lift core capital ratios. But reviving profits and valuations requires a strategic rethink that "wartime" CEOs have shown little will or skill for. A growing chorus of investors and board members want fresh faces to embrace the mission.
One problem is that the pool of candidates is drying up. When Mary-Caroline Tillman of Russell Reynolds Associates, a headhunter, worked on bank CEO searches ten years ago, her shortlists included 15-20 qualified candidates. Today she typically finds five or six. A lot of industry stars are now too old; a few others have lost their prime. Many suitable executives do not want the top job, which comes with more scrutiny from the press than elsewhere. It is also less richly rewarded. Last year James Gorman, who runs Morgan Stanley, an American bank, was paid $33m. ING faced public criticism in 2018 when it proposed raising its boss Ralph Hamers’s pay to €3m ($3.6m).
Recruiting outsiders is also hard. Aspiring CEOs must be closely examined by European regulators, implying a ton of banking experience, says Elena Carletti of Bocconi University, who also sits on UniCredit’s board. In America Wells Fargo is the only big bank subject to such rules. Language can create barriers, too. After falling out with Jean Pierre Mustier, its French boss who is due to step down in April, UniCredit’s board is said to have favoured Italian-speakers.
There is hope, however. Industry veterans praise a class of bankers climbing up the ranks. Headhunters, meanwhile, are considering bright executives in adjacent industries, such as payments or insurance.
Whether they make it to the top or not largely depends on banks’ boards, many of which pay lip service to transformation but choose boring candidates. That partly reflects their own conservative position. To cure ailing banks, boards too need new blood.
Recruiting CEOs outside the banking system is frustrated by__________.
选项
A、thorough scrutiny by the banking regulators
B、extensive experience of banking regulators
C、CEOs’ aspiration to be regulators
D、the language barrier of Italian
答案
A
解析
由题干关键词Recruiting CEOs outside the banking system定位至第四段第一句,该句为本段的主题句,其后几句解释了原因。第二句提出第一个原因,欧洲监管机构严格审查,要求拥有丰富的银行业经验。第四句提出第二个原因:语言障碍。选项[A]“银行监管机构的彻底审查”与第一个原因表述一致,故为答案。
转载请注明原文地址:https://kaotiyun.com/show/JrMD777K
0
考研英语一
相关试题推荐
Thebiggestsuccessofthefossilfuelindustry’sdecades-longcampaigntopushdoubtaboutclimatescienceisthatitforcedth
Thebiggestsuccessofthefossilfuelindustry’sdecades-longcampaigntopushdoubtaboutclimatescienceisthatitforcedth
AstudyinCyberpsychology,Behavior,andSocialNetworkingsuggeststhatartificialintelligenceholdsapromisingfutureinhe
AdecadeagobiologistsidentifiedaremoteprotectedareainnorthernLaos,calledNamEt-PhouLouey,asthecountry’sprobable
AdecadeagobiologistsidentifiedaremoteprotectedareainnorthernLaos,calledNamEt-PhouLouey,asthecountry’sprobable
TheInternetaffordsanonymitytoitsusers,ablessingtoprivacyandfreedomofspeech.Butthatveryanonymityisalsobehind
Happypeopleworkdifferently.They’remoreproductive,morecreative,andwillingtotakegreaterrisks.Andnewresearchsugge
ThequestionofhowAmericansspentand,crucially,savedmoneyoverthepasttwoyearsloomslargeovertheeconomytoday.Ins
Doesthelanguagewespeakdeterminehowhealthyandrichwewillbe?NewresearchbyKeithChenofYaleBusinessSchoolsuggest
Doesthelanguagewespeakdeterminehowhealthyandrichwewillbe?NewresearchbyKeithChenofYaleBusinessSchoolsuggest
随机试题
某餐厅设有可坐12人和可坐10人两种规格的餐桌共28张,最多可容纳332人同时就餐,问:该餐厅有几张10人桌?()
Sheisso______thatshedoesn’tevenknowwhereBeijingis.
病人饥不欲食()
下列关于呋喃妥因叙述正确的是( )。
根据《建筑桩基技术规范》(JGJ94—2008)的有关规定,下列判断正确的有()。
噪声控制技术可从()等方面来考虑。
下列关于罐区防火设计要求说法错误的是()。
中国公民赵某,2016年取得收入如下:1.12月工资、薪金2.股权转让所得、利息、股息、红利所得(1)将原始投资价值50万元的股权以10万元转让给女儿,转让时股权公允价值为120万元;取得银行信托理财产品利息收入4400元,国债利息收入5410元,
甲公司是国内一家雨伞生产企业,用料及工艺制作都十分考究,制作的雨伞在国内十分受欢迎,但是出口到美国的雨伞就是销不动;而东南亚一些国家的企业销往美国大量的花式繁多的纸伞在美国却大受欢迎。因为,美国人是在下雨的时候才临时买一把伞,等到这场雨停了,这把伞的寿命也
Treesthatblocktheviewoftheoncomingtrafficshouldbecutdown.
最新回复
(
0
)