Financial services will remain in upheaval for the foreseeable future, and the heavy hitters in retail and investment banking are not likely to retain their current positions, a senior Canadian banker has predicted.

"The financial landscape of the future will be significantly different from what it is today, and I don't think that any of the names that dominate today will dominate in the future," said Michael Rulle, managing director and head of U.S. operations at CIBC Wood Gundy, the U.S. unit of Toronto-based Canadian Imperial Bank of Commerce.

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