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"Both on the capital markets side and on the traditional banking side, B. of A. is under pressure".
On the equity capital markets side, activity is forecast to rise 21 percent next year, to $920 billion, while corporate bond issuance should gain 14 percent, to $1.28 trillion.
There are still concerns about credit quality issues in loan portfolios and a light demand for underwriting on the capital markets side of the business.
Schwarzman said that while the capital markets side of the equation is a happy accident for the sector, capital markets never stand still.
While it's always hard to tell during the thick of things, looking back, it seems pretty clear that the revenue multiple compression on the public markets side finally made its way through the snake when Fidelity publicly marked down a large number of its late-stage investments.
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"That tends to be people from the trading and capital-markets side".
"But the marketing side is still the Wild West.
I thought I wanted to stay on the marketing side because it means more for me".
The authority that people like Bob Loomis had has been captured by the marketing side of publishing".
He said: "Hopefully the marketing side doesn't take over from the rugby side.
Pinups of Indian actresses are marketed side by side with those glorifying Osama bin Laden.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com