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BEYOND RESTRUCTURING: THE NEW AGENDA

BEYOND RESTRUCTURING: THE NEW AGENDAEUROPEAN BANKING 20172 The primary authors of this report were:Neil Reid, Partner & Head of financial Services Practice Group in EMEA, FrankfurtLindsey Naylor, Partner, LondonChris Allchin, Partner, LondonVicente Vazquez Bouza, Partner, MadridThomas Schnarr, Partner, FrankfurtRobert Rogers, Engagement Manager, LondonSofia Gardefjord, Engagement Manager, StockholmThe authors drew on the contributions of many people across the firm, but in particular wish to acknowledge the help of Matt Austen, Anthony Bice, Pablo Campos, Simon Cooper, Sean Cory, Bruno de Saint-Florent, Christian Edelmann, Andrea Federico, Philip Gudgeon, Astrid Jaekel, Simon Low, Thierry Mennesson, Ted Moynihan, Alexander Peitsch, Emmet Rennick, Ted Rudholm-Alfvin, Michael Smith, Robert Urtheil, Giovanni Viani, Tobias W rgler, Michael Zeltkevic, and Markus BANKING 2017 CONTENTSSTATUS OF RESTRUCTURING 4 Balance sheet clean-up 9 Regulation, capital.

2. Europe’s banks have spent the last nine years working hard to recover from the financial crisis. They have been repairing their balance sheets, making the changes

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