One has to wonder if being a 'Global' Bank is really an intelligent
business proposition. It requires Superman/woman to manage far-flung empires and
activities that can span more disciplines than any normal human can
realistically be expected to fully understand. And a particular risk factor are
differences in business culture that senior management - be it located in New
York, London, Frankfurt, Zurich or Tokyo - can hardly be expected to appreciate
to the extent that would be required. Deutsche Bank lending money to build
another hotel/casino in Las Vegas? Citigroup lending money secured by warehouse
receipts in Chinese Ports? An Austrian Bank lending money to a steel business in
Russia? Do these activities make sense or would concentration on a geographical
area one understands and is familiar with be more profitable in the long run?
