Standard Chartered: easily said — FT.com

Standard Chartered: easily said — FT.com:

"Bill Winters, new chief at Standard Chartered, has a clear mandate. Decide which of the bank’s businesses can produce high and sustainable risk-adjusted returns. Ensure there is enough good-quality capital to support them. Cull assets at the other businesses. Cut costs viciously. Play nice with regulators and politicians. Watch the stock price rise at last, and be seated to general applause."

As the FT points out, all the other banks are going through the same process.  If everyone leaves a field that is not currently profitable, this leaves an open market; if they all crowd into the currently profitable areas, the margins will shrink.