MIFID II SPARKS CHANGE FOR INVESTMENT BANKS – MiFID II (M2) has sparked a true element of change for investment banks across the UK. The new regulation has forced asset managers to “unbundle” the total cost of investment research, there have also been predictions that UK analysts will be cut in half. The introduction of M2 has investment banks thinking that their research will slowly be dumped and will thus result in the slow death of sell side analysts. Mark Lewis, an analyst for Barclays, has since left to join Carbon Tracker as the new Head of Research of Climate Change, a climate change and energy think tank. Lewis said “New EU MiFID II regulations require banks to charge for research, which means that investors are more discriminating in what they read and are seeking differentiated views.” A survey carried out by Greenwich Associates found that Fund managers in the EU had cut their 2018 equities research budgets by 20% ($300MLN), compared with last year. #SpartanInternational