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Article: Bank of Boston refocuses foreign efforts.
- Article from:
- American Banker
- Article date:
- July 24, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bank of Boston Corp. is taking a new approach to building its overseas operation.
Once content to focus on wholesale banking, the company has turned its overseas spotlight on fee-based activities such as capital markets and institutional pension and retail fund management.
Moreover, a banking company long known for its emphasis on Latin America is actively expanding its Asian operations, particularly in China, India, Hong Kong, and Taiwan. Last year alone, Bank of Boston financed $6.5 billion worth of trade from Asia, and that business is growing by about 30% annually.
"Asia is starting to trade more actively with other parts of the world, like Latin America," said ...