"Golden Decade" Coming for Banking

Ex-Barclays executive sees a bright future for banks; sanctions on Russia are the one cloud on the horizon.

The world’s securities firms are poised for 10 years of growth, according to Hans-Joerg Rudloff, the former chairman of that business at Barclays Plc.

“Investment banking has a brilliant future,” Rudloff, 73, said in an interview in Milan on April 16, making his first public comments on the business since retiring from Barclays in February. “The industry is looking at a golden decade.”

“The attitude of Western powers toward the crisis, if you analyze it, what they’re saying is that they’ll wage war with different means—financially, economically, diplomatically,” Rudloff said. “If that’s the intention, what has driven the last 25 years’ of development—that is, globalization—will come to an end.”

Four-way talks in Geneva ended April 17 with an agreement aimed at taking the first steps toward de-escalating tensions in Ukraine, after Russian President Vladimir Putin said he hopes he won’t have to send in troops. The U.S. and its European allies demanded Russia help calm the crisis or face new sanctions. A week earlier, the Obama administration told asset managers it was planning additional sanctions.

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