The tug of war for Asia Inc's banking business

J.P. Morgan and Bank of America Merrill Lynch are the latest banks to want a slice of Asia’s lucrative corporate banking pie, but with fierce competition, can they really succeed?

To succeed in corporate banking these days, banks need a new growth story and many are turning to Asia to find it.

Long-term structural changes now under way will fundamentally affect banking in the years to come, wrote Tab Bowers, a Tokyo-based director at McKinsey and Company, in a recent McKinsey Quarterly article on the changes facing global banks. He went on to write that in all of the outcomes he and his colleagues looked at, global...

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