World Gets Smaller and More Complex

In the 20^th century, predecessors of international money center banks, like Banco Santander, Barclays, BNP Paribas, Citi, Deutsche Bank, HSBC, ING, JPMorgan Chase, the Bank of Tokyo-Mitsubishi and UBS, to name a few, had a presence in the world's biggest commercial and financial centers. First they followed their own national clients abroad and then they established relationships with clients in the locations where they had just set up new offices. Their business was about financing transactions