Italian Banks Gear Up For the Euro
BANKS
LONDON--In the lead up to the introduction of the euro, several Italian banks are following different strategies--while a couple are repatriating their London treasury operations to Italy, others are staying put.
Banca Monte dei Paschi di Siena, the world's oldest bank, and Istituto Bancario San Paolo di Torino, are among those consolidating their London operations, while Banca Nazionale del Lavoro (BNL) remains committed to the UK market.
Technological advances are enabling the banks that have
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