The strong presence of Spanish financial institutions in Latin America may be the prime example of this motivation. Finally, many institutions may have expanded to meet ambitious aspirations for growth that comparatively small local markets might not accommodate. Certainly, one might argue that the global reach of major Dutch and Swiss institutions reflects this motivation, at least in part.
Importantly, one must ask if global institutions are more successful than their home-bound competitors. At least one private-sector study, from a major consulting firm, suggests that during the ten-year period ending 31 December 1996, most of the global financial services companies did not achieve significantly superior returns to shareholders. Nor did they appear to achieve superior revenue growth.