Wall Street’s future will be dominated by firms that embrace technology from electronic fixed-income trading to blockchain and predictive algorithms, reducing the need for people in the front and back office, according to McKinsey & Co. Global investment banks that successfully adopt automated trading and other measures can increase profit by 30 percent, the consulting firm said in a report released Wednesday. [Bloomberg]
New McKinsey Conflict-Of-Interest Scandal Emerges Just In Time
It wouldn’t be right for the consulting giant not to have at least one giant question mark hanging over it.