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Since the 2008 financial crisis made large physical networks an unjustifiable luxury, Western banks have increasingly relied on an army of peripatetic bankers to service clients in emerging markets.
Take emerging Europe, for example. In the early 2000s, most larger US and European players had outposts in multiple cities across the region, from Budapest and Prague to Kyiv and even Almaty.
With a couple of exceptions, these networks have long since dwindled to a handful of small offices in Warsaw, Istanbul and Moscow.
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