EJF Capital Co-Founder Neal Wilson: Bank Consolidation to Accelerate

Nov 1 2017 | 10:27am ET

Neal Wilson, co-founder and COO of EJF Capital, said that his firm projects that the U.S. banking sector will consolidate from 6,000 institutions to 1,000 in the future. 

Wilson kicked off the SuperReturn Private Credit event in Chicago on Nov. 1 with a speech called “The changing dynamics of the regulatory & economic environment.” He cited three tailwinds that will help fuel this consolidation: deregulation, tax breaks, and higher interest rates.

Wilson said that tax reform would bolster banking capital, which would allow firms to bolster reserves and purchase their neighbors.  

In his early remarks, Wilson also said that he anticipates that Jerome Powell will become the next Chairman of the Federal Reserve. “I think you should feel very pleased if he is picked by Trump to be the head of the Federal Reserve,” he said.

Wilson called Powell and excellent pick and praised him for his bipartisan approach to policy and his work on advocating for Congress to better manage the debt ceiling.

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November  is  one of the best performing months for the major stock indexes and also the beginning of a strong multi-month stretch across all of the stock indexes.