From THE GLOBE AND MAIL:
Canadian banks that covet a bigger slice of the U.S. market have identified a small window of opportunity to potentially steal corporate business from troubled American banks.
Now some are pulling out all the stops – using top bank brass to wine and dine the heads of small U.S. companies and flying in analysts from Canada to provide market insight – in an attempt to convince those businesses to change bankers.
Corporate banking is known for being a tough market in which to grow, since companies often stay with one primary lender for decades. But past recessions have shown economic downturns produce temporary upheaval, which can be fertile ground in the hunt for new business…
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EDITOR’S NOTE: Canadian banks are heavily regulated and thus did not suffer the melt down of the major USA banks in 2008 band 2009 that necessitated their rescue via TARP.
