Mergers, Emerging Markets & Options Featured Heavily In FX Markets Of 1997
BANKS
Unlike 1996, 1997 did not see the widescale downsizings, team poachings and management shake-ups reminiscent of the year earlier (FXW, January 6); however, the issues that did emerge during the year show a changing marketplace. A look back at the year shows a market dominated by mergers of scale, a continued push towards globalization and into emerging markets, options and technology.
Far and away the biggest news of the year came just at the end, when Swiss Bank Corporation and the Union Bank of
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