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British Multinational Banking, 1830-1990$
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Geoffrey Jones

Print publication date: 1995

Print ISBN-13: 9780198206026

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198206026.001.0001

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The Rise and Fall of Globalization

The Rise and Fall of Globalization

Chapter:
(p.320) CHAPTER 10 The Rise and Fall of Globalization
Source:
British Multinational Banking, 1830-1990
Author(s):

Geoffrey Jones

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198206026.003.0010

This chapter focuses on the transformation of the multinational banking industry from the 1960s. The arrival of global financial markets changed the banking industry greatly. The City of London retained a position of great importance because new markets were physically located in the resurgent City. However, British-owned banks rapidly lost their significance. American and Japanese multinational banks emerged and their importance to the world became greater. On the other hand, British multinational banks reduced in size and they were weakened by problems in their strategies and structures. Eventually, British bankers entered the era of global banking from the 1960s with an administrative heritage based on segmented markets, specialist institutions, and strong corporate cultures. They were able to secure franchises which yielded profits in the 1980s.

Keywords:   franchises, global banking, City of London, multinational banks, segmented markets, specialist institutions, corporate cultures

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