Davos Bankers Feel Trump Tailwind That Leaves Europe Chasing US

At the World Economic Forum in Davos, a fresh division in global banking is emerging: firms that get to enjoy the sound of rules being torn up in Washington, and those that get to worry they’ll be left behind.

Executives at both American and European firms used the annual meeting in the Swiss mountain resort to discuss the new US administration’s approach to deregulation.

“The expectation is that the US will be well ahead of Europe in terms of being less regulated, and given that US banks do operate in Europe, that will put us at a competitive disadvantage,” ...