Comment: Audacious Moves Demonstrate Flair And Solid Strategic Thinking - Bold Deals, Such As Royal Bank Of Scotland's 5% Stake In Bank Of China, Show That The Sector's Entrepreneurial Spirit Is Alive And Well - And That Flare Is Often Needed To Overcome.

Banker, The, September, 2005

Concerns about high oil prices and their impact on the global economy have not dampened bankers' enthusiasm for making bold moves. In the past few weeks, Royal Bank of Scotland (RBS) has taken a 5% stake in Bank of China (BoC) - Fred Goodwin's "ticket to the game"; Citigroup is considering raising its stake in Shanghai Pudong Development Bank; Raiffeisen has bought Ukraine's Aval; and, last but not least, Macquarie Bank is considering bidding for the London Stock Exchange (LSE). Who ever said banking was dull or lacking in entrepreneurial 'get up and go'?

All these initiatives show flare and imagination as well as solid strategic thinking on the part of managements that want their institutions to be key players in 21st century banking. By contrast, it is the...

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