Abstract:This paper contributes to financial geography by discussing globalisation and local embeddedness in the Australian custodial banking industry. Qualitiative interviews with custodial bankers revealed that the combination of cost pressures, electronic information processing systems, and electronic networking made local (intraurban) embeddedness in the Sydney financial district unimportant. Although it is essential for master custodians to understand domestic securities markets characteristics, the commoditised n… Show more
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