Record Numbers Of Overseas Banks Close And Set Up New Offices In London In 1999
PEOPLE NEWS
LONDON--A record number of foreign banks closed branches in London last year--but a record number also opened new offices, according to a survey published last week.
The study, conducted by global management consultancy Noel Alexander, shows 53 overseas banks left London, while 35 set up operations in the city between June 1999 and June 2000.
At least 10 banks closed foreign exchange dealing desks when they left London, while only one--DLJ--established a significant forex operation in a new
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