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Consolidation and Convergence in the Financial Services Industry Nov 00 Product Image

Consolidation and Convergence in the Financial Services Industry Nov 00

  • Published: November 2000
  • Standard & Poors

FEATURED COMPANIES

  • Austria (Republic of)
  • Banco Santander S.A.
  • Money Store L.L.C. (The)
  • Wells Fargo & Co.
  • MORE

Abstract
CreditWeek recently talked with Clifford Griep, executive managing director of Standard & Poor's Financial Services Ratings. He provided his perspective on consolidation and convergence in the financial services industry, and the resultant changes that are shaping this corporate sector. Mr. Griep: There are a host of reasons, ranging from offensive strategies to defensive ones, from the well thought out to copycat strategies. The development of securities markets, occurring in spurts around the world, has traditionally disintermediated banks when they lacked either the skill set or the legal power to adapt to new roles as intermediators of investable funds. In this context, mergers have represented defensive strategies aimed at achieving economies of scale, or to wring overcapacity out of the industry....

Companies mentioned in this report are:
- Austria (Republic of)
- Wells Fargo & Co.
- Japan (Unsolicited Ratings)
- Money Store L.L.C. (The)
- Banco Santander S.A.
- Banco Bilbao Vizcaya Argentaria S.A.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, READ MORE >

- Austria (Republic of)
- Wells Fargo & Co.
- Japan (Unsolicited Ratings)
- Money Store L.L.C. (The)
- Banco Santander S.A.
- Banco Bilbao Vizcaya Argentaria S.A.

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