What's Behind the Proposed Bank Mergers?
Publication:
The Empire Club of Canada Addresses (Toronto, Canada), 12 Feb 1998, p. 320-327


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What's Behind the Proposed Bank Mergers?


The speaker's intention to step back and look at what's behind the desire to merge. The real driver globalisation and how that is so. Why globalisation is happening. New opportunities being created. How a company can achieve scale. The record number of takeovers last year. The pursuit of size and the pursuit of profitability. An example of disrupting the balance between domestic players. The escalation of foreign competition and domestic dislocation and the consequences. Executives wrestling with growth strategies. Scale as a large part of the answer. Today's critical stake in the global market for most countries, with examples. Recognizing scale as an important base for cultivating growth. Banking in Canada. The discomfort in Canada with a banking merger. Reasons for that discomfort. Singling out the banks for special attention. The widening gap in scale between Canadian and foreign banks. The consolidation race and Canada's success in that race.