Now that the EU s Financial Services Action Plan has been completed, Europe s financial markets will have to face a number of important changes on banking markets as well as on capital markets. European stock exchanges can expect to see new processes of concentration, and investment funds will also face severe changes. In banking, a single regulatory market has already been created for institutional customers and a similar arrangement is now planned for private individuals in the form of a single retail market. At the same time, competition for bank customers will become even more fierce due to the increasing concentration in banking. This will inevitably have a negative impact on profitability or are there also positive examples to the contrary? This year s Banking Seminar will focus on the topics of financial market integration, competition and profitability from both, a theoretical, and practical standpoint.