Mutuals can teach banks lessons in service

BEING good at international financial services is like communicating with teenagers – you have to be relevant.

“Go and talk to them,” said Chris Cummings, chief executive of The City UK.

“Go on business delegations to these countries. Understand what you are good at.

Sign up to our Business newsletter

Sign up to our Business newsletter

“We are the best at financial services. We are the best at professional services.

“These are the things that other countries want to buy.

“We don’t have huge acreage of commodities that we can sell. So we have to focus on our competitive advantages.”