Toscafund's Savvas Savouri On New World Banking Order

Dr Savvas Savouri in his latest market discussion says that in the next seven years, the world's largest banks (by market cap) will not be in the US anymore, rather the emerging markets or the "new growth economies" will be playing host to the world's top twenty banks. Countries like, Russia, China, Australia, New Zealand and Canada have only had one contender in the line of the top twenty banks in the past years, however by 2020 this will change and most of the largest banks will be originating from the emerging economies.