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Consultants paint challenging picture for banks, FT says

Recently published reports from two big consultancies, McKinsey and Oliver Wyman, suggest ways that banks may attempt to combat lowered profit potential and new challenges to their businesses. McKinsey suggested that along the road to transformation there will be some big losers, with a few global “flow monsters” surviving, while others become “universal-plus” banks in their own countries or “focused wholesale players,” reported Financial Times.