Magazine article Global Finance

Bank Behemoths to Rule in New Millennium

Magazine article Global Finance

Bank Behemoths to Rule in New Millennium

Article excerpt

The banking world will enter the new millennium after a decade abuzz with the words consolidation, integration, and synergy. The result is an industry led by the so-called universal banks and the notion of the one-stop shop for all financial services.

In International Banks: Who Will Be Leaders in the New Millennium,Total Research questions what standing these banks will have within the industry and the outside world in the next century.Total Research interviewed 100 investment professionals and found overwhelming support for the largest banks.

"If a constant theme emerges, it is that size does matter, global presence or large capital resources being cited frequently as factors which tend to distinguish the best performing banks from the rest," the study says. "Corporate investors consistently view relatively small number of banks as global leaders."These were Citigroup Deutsche Bank and HSBC, all of which regularly came out on top, whether investors were asked about which banks they regarded as leaders today, leaders in the new millennium, or good investment prospects that they would recommend to their clients or friends.

Citigroup and Deutsche Bank emerged from the study as the "most global," with consistently high ratings across North America, Europe, and Asia Pacific. The study cited HSBC, UBS, and Chase Manhattan as the other universal banks but concluded the latter's reputation was concentrated in North America, while the other two had high ratings across Europe. …

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