Word: blommestein
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...obvious that domestic mergers offer big commercial banks a fast way to reduce expenses before they take the more uncharted jump outside national borders. "There's a preference to start with domestic mergers first because they offer the quickest way to reduce excess capacity by cutting jobs," says Hendrikus Blommestein, acting head of the financial markets division of the Organization for Economic Cooperation and Development in Paris. Jean-Pierre Danthine, a professor at the University of Lausanne, suggests an additional motive for the at-home trend in corporate behavior: domestic mergers have the advantage of eliminating local competition. "If there...
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