How they are trending and what banks can do to control them A decade since the credit crisis, the world’s major banks are still struggling to bring costs under control. Having gone through multiple cost reduction programmes post-2008, firms are under continued shareholder pressure to increase return on tangible equity. With revenues under pressure from a flatter yield curve and an uncertain outlook in many business areas, cutting group function costs remains key to improving ROTE. Here we look at function costs trends and assess the measures with the greatest potential to transform long-term costs. To learn more about how banks are seeking to optimise their support function costs in the face of persistent revenue pressures, please download the full white paper here. You can also reach out to Nicholas Yazdani at nicholas.yazdani@mclagan.com for further information and support. Related Articles Reimagining Total Rewards for a Changing World Rewards Outlook: Wealth Management and the Role of Modeling How the Rewards Function is Being Shaped by Technology Personalising Rewards to Deliver Employee Engagement: An Impossible Dream? Vergütungsmodell in agilen Organisationen Five Ways Data & Technology Can Help Manage Employee Rewards for a Changed Workforce Analytical Job Evaluation: Value-Adding Business Process or Bureaucratic Relic? Location-Based Pay Heats Up as Workforces Remain Remote Aon’s 2020 Mid-Year Salary Increase Report for China Shows Lower Wage Growth Across Most Industries A Year Unlike Any Other for the European Banking Industry
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