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Investment banking industry needs a disruptor

Dominic Elliott
Akos Stiller | Bloomberg | Getty Images

Finance could pick up a useful pointer or two from low-cost airlines. Investment banks that engage in trading and corporate finance have routinely destroyed value since the 2008 financial crisis – much like the aviation sector, which a McKinsey study found made no returns for shareholders over a 13-year period. It took new, no-frills entrants – the likes of easyJet, Ryanair and Southwest – to shake up staid business models.