The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Customers stick with pick and mix

European corporates are responding favourably but cautiously to banks offering one-stop-shop services. On the whole, though, the banking trend is not demand-driven and customers are not massively moved by the cost-saving considerations touted by the banks. The response is pragmatic with most corporate treasurers recognizing that a multiplicity of banking relationships is advantageous. Investment banks may indeed offer an indefinable added value and commercial banks are still not up to speed in crucial areas, notably M&A.

Philippe Blavier

Ask a senior banker to describe his organization's strategy and chances are he'll soon start talking about "global relationship banking", or being a "full-service provider" or a "one-stop shop". The desire for financial superstore status has never been stronger.

Intriguingly, this aspiration is the opposite of the strategies of most of the banks' corporate customers. Governed by the forces of specialization, they are focusing on key business areas and disposing of non-core assets.

So what is driving the trend among banks to be all things to all people? What is the source of the pressure on commercial banks to underwrite securities transactions, and on investment banks to provide foreign exchange and cash-management services? Although banks claim that they are simply responding to client needs, it's clear that the one-stop shop bank is less a product of customer demand than a defensive strategy to cushion banks against cyclical ups and downs.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree