It’s seen a lot of history since Franklin Roosevelt dedicated this building in 1937. British and American military leaders conferred here during World War II. And, through the decades, our Federal Reserve predecessors grappled with financial turmoil and the economy’s ups and downs.
The study documented the high levels of mergers and acquisitions among financial firms during the 1990s, including a noticeable acceleration during the last three years of the decade. Most of the consolidation was within countries and within segments of the financial sector. Cross-border or cross-sector consolidations have so far been less frequent. The data we collected suggested a number of conclusions.