Globalisation drives commoditisation, as customers with clout demand service consistency across their global organisations. This in turn favours the global financial institutions, which have the geographic reach and network to meet such demands, as well as the resources to develop more sophisticated product ranges and services. In this environment smaller players – however skilled – struggle to grow or to survive. Consolidation is the inevitable outcome, particularly in over-banked markets such as Europe.
Consolidation accelerates
