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"We will complete the necessary transformation and repositioning of the investment bank to a less capital intensive model," he added.
Once upon a time on Wall Street (where I worked for nearly two decades), firms were smaller, less capital intensive partnerships.
"At the end of the day," Mr. Bhinde said, "mobile solves one part of the problem — it makes transactions less capital intensive.
"The plans we have outlined today significantly reallocate resources to change fundamentally the mix of the Group towards more profitable and less capital intensive businesses," Winters said in a statement.
To repair the investment banking business, UBS has adopted a plan to eliminate 10,000 jobs and scale back its debt-trading business while focusing on activities that are less capital intensive.
A Morgan Stanley spokeswoman, Jeanmarie McFadden, said the company had spent more than two years restructuring its business so that it was "less risky and less capital intensive," something that should help its rating.
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It's also less capital-intensive.
This may be because business has become less capital-intensive.
"Digital is far less capital-intensive than film," he adds.
The cheaper pound has, however, increased profit margins at less capital-intensive outfits such as TDSi.
"We will complete the necessary transformation and repositioning of the investment bank to a less capital-intensive model," he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com