Goldman Sachs Group Inc. and Morgan Stanley were cut by an analyst at JPMorgan Chase & Co. on concern that a U.S. regulatory proposal may make the banks’ capital requirements stricter than European rivals.
Credit Suisse Group AG Chief Executive Officer Brady Dougan sought to put the bank’s legal woes behind it with the U.S. tax-probe settlement. He hasn’t assuaged investor concern about the bank’s capital and strategy.
When UBS AG Chief Executive Officer Sergio Ermotti announced 10,000 job cuts in 2012, he put hundreds of staff on leave the same day. Since then efforts by Switzerland’s biggest bank to cut costs and boost profit slowed.