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Business in Britain in the Twentieth CenturyDecline and Renaissance?$
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Richard Coopey and Peter Lyth

Print publication date: 2009

Print ISBN-13: 9780199226009

Published to Oxford Scholarship Online: September 2009

DOI: 10.1093/acprof:oso/9780199226009.001.0001

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The Decline and Renewal of British Multinational Banking

The Decline and Renewal of British Multinational Banking

Chapter:
(p.207) Chapter 11 The Decline and Renewal of British Multinational Banking
Source:
Business in Britain in the Twentieth Century
Author(s):

Geoffrey Jones (Contributor Webpage)

Lucy Newton

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199226009.003.0012

This chapter discusses the renaissance of British multinational banking from the 1990s. British commercial banks had pioneered multinational banking during the 19th century, but they were unable to build on this legacy during the new wave of global banking which began in the 1960 with the advent of the Euromarkets. However, from the 1990s there was major restructuring and a much improved performance. The chapter explores the shifts in strategy and management which enabled HSBC and other British banks to become global leaders in contemporary multinational banking, at least until the global financial crisis which began in 2007 raised fundamental questions about the future trajectory of the entire global financial system.

Keywords:   multinational banking, British banks, 20th century, financial crisis, restructuring

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