EATING THE BRITISH LUNCH?
Will the Americans, after Big Bang, steal British corporate finance
business from UK banks? The US investment banks say: Sure we will. The
UK merchant banks complacently say: Never. But UK corporate finance
officers told Euromoney: Maybe.
"We would use any borrowing deal which we thought was
best," said the treasurer of one of the biggest British companies.
"There will be a loss of business for merchant banks, and some will
go to the wall. There will not be room for all the banks."
Another finance manager commented: "We really don't care
who it is who comes through the door. If the Americans have a bright
idea which is not being put to us by the UK banks, we'll be
interested -- and the Americans have a lot of bright ideas about the UK
scene."
However, Justin Welby, treasurer of Enterprise Oil, said: "UK
banks will...
