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Who would benefit from a shakeup of the UK banking industry?


The Independent Commission on Banking is looking at ways to reduce the risk from banking to the overall UK economy and also to improve services. However, if the Independent Commission on Banking does take the controversial decision to split up investment banking and retail banking operations who would benefit?

It is difficult to see how the consumer on the streets and businesses in the UK would benefit in the short-term although in the longer-term perhaps more security for the UK financial sector and the UK economy will be the ultimate hope. However, in the short-term it is difficult to see any major benefits for UK consumers and UK businesses who would likely see the cost of banking services increase, if in effect the cost base of these operations was split in two.

There's no doubt that retail banking and investment banking are at very different ends of the financial spectrum they have lived together with very few problems over the years. It is only the credit crunch and the resulting worldwide recession which has focused the minds of governments around the world and indeed led to this situation which we see before us today. Is this a knee-jerk reaction or a move to benefit the worldwide economy, businesses and consumers?

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