Chapter | Business in Britain in the Twentieth Century | 2009

The Decline and Renewal of British Multinational Banking.

by G. Jones and Lucy Newton

Abstract

This chapter discusses the renaissance of British multinational banking from the 1990s. British commercial banks had pioneered multinational banking during the 19th century, but they were unable to build on this legacy during the new wave of global banking that began in the 1960s with the advent of the Euromarkets. However, from the 1990s there was major restructuring and a much improved performance. The chapter explores the shifts in strategy and management that enabled HSBC and other British banks to become global leaders in contemporary multinational banking, at least until the global financial crisis, which began in 2007, raised fundamental questions about the future trajectory of the entire global financial system.

Keywords: Financial Crisis; Commercial Banking; International Finance; Multinational Firms and Management; Strategy; Banking Industry; Great Britain;

Format: Print

Citation:

Jones, G., and Lucy Newton. "The Decline and Renewal of British Multinational Banking." In Business in Britain in the Twentieth Century, edited by Richard Coopey and Peter Lyth. Oxford: Oxford University Press, 2009.

About the Author

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Geoffrey G. Jones
Isidor Straus Professor of Business History
General Management

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