By Steven I. Davis

Since this ebook used to be first released 4 years in the past, the speed of switch within the banking international has sped up and this up to date model indicates how particular banks have fared, how uniform the pressures for swap are and the explanations for the decline in a few banks.

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Cultural diversity has always been a hallmark of Citicorp's ethos, but the bank's product and geographic thrust has created a new dimension, as Pam Flaherty, Citicorp's Senior Human Resources Officer, explains: We're more comfortable than most with managing vast multinational operations, but it's still a challenge. With our heavy component of retail, our people do lots of very different things; we have more specialists than ever before. As an example, we might have people who are the world's best in credit card solicitation by mail; they know everything about Zip codes in the US and really know how to go about mail solicitation.

His counterpart at the parent bank - and former chief executive ad interim of CSFB - Hans-Ulrich Doerig, a member of the Credit Suisse executive board, agrees: One of Credit Suisse's strengths is that we have a few important, strong and common denominators plus the flexibility to manage according to our own personality. You have to decentralize; what is successful in Switzerland might not be so in London. Toronto Dominion's expansion into the US market is another successful form of a de novo expansion across borders using local recruits.

William Wirth, Credit Suisse. A universal challenge for the excellent banks is to extend their reach outside their traditional franchise on a profitable basis. The negative argument for such an extension can be heard in almost every language spoken in the banking world: 'we've achieved the limits of market share expansion in our domestic market, margins are under pressure from competition and rising costs so we have to look to new markets'. A more positive motivation is expressed by banking institutions with product capability in a global or at least international market: 'unless we extend our reach abroad, we can't be competitive with those who are'.

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