28-10-2017 17:20 via feedproxy.google.com

Wall Street could be next to get Amazon'd (AMZN)

McKinsey has published a report looking at the threat to Wall Street banks from so-called platform companies like Amazon, Alibaba, and Rakuten.
These companies could become the "front end" for big finance, taking a big slice of profits.
The worst-case scenario would put returns on a par with those in 2008, during the worst of the financial crisis.Wall Street could be next to get Amazon'd.
That's the takeaway from a big report from McKinsey, which just published its annual global banking review,
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