This Will Be the Defining Moment for the Banking Industry: Expert

Tuesday, 3 Jul 2012 | 3:45 AM ET

"The changes coming through with this crisis are going to change the perception of the city in major way and I think the City is getting a little bit slow on recognizing the scale of change and the nature of that change and how significant it is going to be over the long-term" Gervais Williams, managing director at MAM Funds, told CNBC.