Changing maps: How the shape of global banking has turned upside down

Print section Print Rubric:  The shape of global banking has turned upside down Print Headline:  Changing maps Print Fly Title:  Banking UK Only Article:  standard article Issue:  Blanket repression is the wrong way to deal with political Islamists Fly Title:  Changing maps Location:  NEW YORK IN THE 1980s, when Citicorp was America’s largest bank and pursuing every avenue for international expansion, John Reed, the bank’s boss, would muse about moving its headquarters to a neutral location, notably the moon. Such sentiments are inconceivable today. Jamie Dimon, boss of JPMorgan Chase, Citi’s successor atop the league tables, recently said he is an American “patriot” first, head of a bank second. His strategy, though hardly shunning international markets, reflects this. Mr Dimon turned down several big foreign acquisitions before and during the financial ...

from Banking Services http://www.economist.com/news/finance-and-economics/21727088-american-and-european-banks-stay-more-home-chinese-ones-extend-their-reach-how?fsrc=rss
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