...] European GTUBs' US Operations ¡ Important Components of Global Business Models As globally operating banking groups, Europe's Global Trading and Universal Banks (GTUBs: Barclays, BNP Paribas, Credit Suisse Group, Deutsche Bank, HSBC Holdings, Societe Generale and UBS Group) all have large operations in the US. Assets booked by the seven banks in US subsidiaries and branches totalled about USD1.7trn at end-2015. A strong presence in the world's largest market is important for banks that want to maintain a global franchise in capital markets businesses, but most European GTUBs have been cutting back on selected businesses and focusing on those where they can make the best returns. European GTUBs' sales and trading revenues globally have fallen more than their US peers in 2015 and 2016. It is difficult to determine how much of this trend relates to cyclically stronger US markets and how much to any segmental or geographic shift of market shares. A sluggish recovery in Europe and low interest...
