Abbey National upgrades operations in Hong Kong

FinanceAsia spoke to D Gareth Jones, wholesale banking managing director of UK-based Abbey National, about plans to use Hong Kong as a hub to grow its Asian business.

Q You have had a representative office in Hong Kong since 1996. Why upgrade it to a bank branch now

A The disadvantage of not having a bank licence here was that we couldn't run a Hong Kong dollar book. We couldn't quote prices to take deposits and to sell deposit-type papers in the Asian time zone. We tried quoting prices from our London office for some time with staff coming in at 1am. But we found our...

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