Robert Grosse is Professor of International Business and Director of Research at Thunderbird, The American Graduate School of International Management in Arizona. He has more than 20 years experience of teaching international finance, international banking, finance in emerging markets, and other finance and global strategy seminars. He has also worked as a consultant to American Express, Banco de Costa Rica, Banco de Credito e Inversiones (Chile), Banco Ganadero (Colombia), Citibank, Chase Manhattan Bank, Manufacturers Hanover Bank, and Merrill Lynch.

"Robert Grosse shows that, despite the internet, most financial services are still delivered locally; indeed the world's largest international financial institutions (such as Allianz and Merrill Lynch) are leaders in their home markets but are not true global leaders. He also shows that, in retail banking, the performance of commercial banks is strongly determined by the growth of their home markets." Alan Rugman, Indiana University "In this important book Robert Grosse shows that, despite the internet, there are few globally active financial institutions and that there are no truly global competitors. Most financial services are still delivered locally: as a notable example, in retail banking the performance of commercial banks is stongly determined by the growth of their home markets. The future of financial services will be local rather than global." Alan Rugman, Kelley School of Business

• Annonated List of Contents. Preface.Acknowledgments.Part I: The Environment.1. Introduction.2. The Globalization of Financial Services.3. The Virtualization of Financial Services.4. Government Regulation: The Second Key Factor Underlying Industry Structure.Part II: Competitive Strategies.5. The Financial Landscape: Organizations and Universal Banking (The Status Quo).6. Competitive Strategies of International Financial Institutions.7. Competitiveness of Commercial Banks from Key Countries.8. Responding to the Challenge of the New Economy.Part III: Direction of the Sector.9. Why insurance won’t survive.10. Investment banking at the crossroads.11. Financial instruments and financial structures.12. Generation of long-term investment to support long-term bond & stock markets.13. Centers of international financial activity.14. Surviving the twenty-first Century.Index

Robert Grosse is Professor of International Business and Director of Research at Thunderbird, The American Graduate School of International Management in Arizona. He has more than 20 years experience of teaching international finance, international banking, finance in emerging markets, and other finance and global strategy seminars. He has also worked as a consultant to American Express, Banco de Costa Rica, Banco de Credito e Inversiones (Chile), Banco Ganadero (Colombia), Citibank, Chase Manhattan Bank, Manufacturers Hanover Bank, and Merrill Lynch.

"Robert Grosse shows that, despite the internet, most financial services are still delivered locally; indeed the world's largest international financial institutions (such as Allianz and Merrill Lynch) are leaders in their home markets but are not true global leaders. He also shows that, in retail banking, the performance of commercial banks is strongly determined by the growth of their home markets." Alan Rugman, Indiana University "In this important book Robert Grosse shows that, despite the internet, there are few globally active financial institutions and that there are no truly global competitors. Most financial services are still delivered locally: as a notable example, in retail banking the performance of commercial banks is stongly determined by the growth of their home markets. The future of financial services will be local rather than global." Alan Rugman, Kelley School of Business

• Annonated List of Contents. Preface.Acknowledgments.Part I: The Environment.1. Introduction.2. The Globalization of Financial Services.3. The Virtualization of Financial Services.4. Government Regulation: The Second Key Factor Underlying Industry Structure.Part II: Competitive Strategies.5. The Financial Landscape: Organizations and Universal Banking (The Status Quo).6. Competitive Strategies of International Financial Institutions.7. Competitiveness of Commercial Banks from Key Countries.8. Responding to the Challenge of the New Economy.Part III: Direction of the Sector.9. Why insurance won’t survive.10. Investment banking at the crossroads.11. Financial instruments and financial structures.12. Generation of long-term investment to support long-term bond & stock markets.13. Centers of international financial activity.14. Surviving the twenty-first Century.Index

Robert Grosse is Professor of International Business and Director of Research at Thunderbird, The American Graduate School of International Management in Arizona. He has more than 20 years experience of teaching international finance, international banking, finance in emerging markets, and other finance and global strategy seminars. He has also worked as a consultant to American Express, Banco de Costa Rica, Banco de Credito e Inversiones (Chile), Banco Ganadero (Colombia), Citibank, Chase Manhattan Bank, Manufacturers Hanover Bank, and Merrill Lynch.

"Robert Grosse shows that, despite the internet, most financial services are still delivered locally; indeed the world's largest international financial institutions (such as Allianz and Merrill Lynch) are leaders in their home markets but are not true global leaders. He also shows that, in retail banking, the performance of commercial banks is strongly determined by the growth of their home markets." Alan Rugman, Indiana University "In this important book Robert Grosse shows that, despite the internet, there are few globally active financial institutions and that there are no truly global competitors. Most financial services are still delivered locally: as a notable example, in retail banking the performance of commercial banks is stongly determined by the growth of their home markets. The future of financial services will be local rather than global." Alan Rugman, Kelley School of Business

• Annonated List of Contents. Preface.Acknowledgments.Part I: The Environment.1. Introduction.2. The Globalization of Financial Services.3. The Virtualization of Financial Services.4. Government Regulation: The Second Key Factor Underlying Industry Structure.Part II: Competitive Strategies.5. The Financial Landscape: Organizations and Universal Banking (The Status Quo).6. Competitive Strategies of International Financial Institutions.7. Competitiveness of Commercial Banks from Key Countries.8. Responding to the Challenge of the New Economy.Part III: Direction of the Sector.9. Why insurance won’t survive.10. Investment banking at the crossroads.11. Financial instruments and financial structures.12. Generation of long-term investment to support long-term bond & stock markets.13. Centers of international financial activity.14. Surviving the twenty-first Century.Index