Whoever decided that flying pigs belong in an advert for Zurich’s new UK bank clearly has a warped sense of irony. A check over the history of the UK banking market shows that new entrants have faced difficult take-offs and often suffered crash landings.
Zurich Financial Services, the embattled Swiss group, is the latest to be lured. Big profits at the dominant four UK banks have proved a honey trap for US banks, insurance companies and supermarkets.
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