00:00We had a sense that some good news was coming because most of the banks, the investment banks, they actually posted third quarter results for stock trading that were their best for the third quarter ever.
00:09And most of them topped analyst expectations, notching about 15 billion of revenue in that quarter.
00:15The clear winner here is stock traders.
00:18They have benefited, of course, from the volatility set off by Trump's tariff war, but also by the more than 30 percent rise of the S&P 500,
00:26helped by the sort of optimism surrounding technology and and surrounding A.I.
00:32But across the board, bonuses were generally up for debt underwriting, for wealth management and for M.A.
00:39as, you know, Trump's sort of more relaxed regulatory approach has led to a lot of expectations that the deal boom is coming back.
00:45Yes. So this is a lot of it down to lower regulations.
00:49People have the courage to go into this market and make acquisitions.
00:53Who's doing poorly? Is anybody missing out?
00:56Well, the retail and the commercial banking, the bankers there, they're expected to see bonuses flat or to five percent or five percent up.
01:05So I think obviously there is some, you know, it's not completely optimistic and rosy across the board, but it is still a little bit of a jump.
01:11And, you know, Johnson Associates, they say that next year, you know, enjoy the good times while you can,
01:16because next year, if the economy slows, this momentum might not be so good.
01:21This report from Johnson Associates also touched on A.I.
01:24It does feel like a time, Sally, when companies are maybe just using it as an excuse to trim down their workforce,
01:30saying it's not because we want to preserve margins and that's why you're losing your job.
01:33It was just technological changes.
01:35What did it talk about how these banks are thinking about implementing the technology and what that means to their workforce?
01:40Well, most of the banks have said that, you know, A.I. is going to revolutionize how they do business, you know, from coding to their workforces.
01:49But there are, you know, considerations here of what it does mean for jobs.
01:53A lot of banks have said that actually they still need the human element and the human component.
01:58And in fact, a lot of them, you know, haven't haven't slowed down hiring because they are trying to expand technology
02:04and make sure they have the A.I. experts there in the field able to help them.
Be the first to comment