Post 08, How Investment Banks Have Shaped Up

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By Megan Murphy, Justin Baer, Francesco Guerrera, Patrick Jenkins, Jeremy Grant, Martin Arnold and Sam Jones

Published: December 20 2010 19:27 | Last updated: December 21 2010 00:03

In the past decade the investment banking world was hit by a virus. Known as "Goldman envy", it prompted the likes of Morgan Stanley, Merrill Lynch and UBS "“ and the now-defunct Lehman Brothers and Bear Stearns "“ to ratchet up risks to try to replicate Goldman Sachs' strong profit growth.

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