Jan Kalff: investment bank is market mainstream

ABN Netherlands former Chairman Jan Kalff said that the anticipation for virtual banks was rather optimistic but in fact the demands for such kind of bank was lower than expectation, and the virtual banks would pose little threat to traditional banks.

He refused to comment on the merger between Merrill Lynch and HSBC Holdings (0005), just saying that the expansion in investment banks may be a trend in the future

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