UK Doesn't Welcome US Business

**impertinence** · 30-07-2010, 05:44 PM

US-owned Metro Bank became the first new addition to the banking highstreet this week and its reception has been... lukewarm, at best.

Some people are incredibly against the franchise.

I guess the question is - is this pure anti-Americanism? Or simply distrust of banks, especially new ones?

In my opinion it's a little of both - but I do think people would be more willing to trust Metro if it wasn't so very American, with the gimmicks and showmanship etc. America has not carved itself a positive niche.

**Yeti** · 30-07-2010, 06:11 PM

Originally Posted by impertinence

US-owned Metro Bank became the first new addition to the banking highstreet this week and its reception has been... lukewarm, at best.

Some people are incredibly against the franchise.

I guess the question is - is this pure anti-Americanism? Or simply distrust of banks, especially new ones?

In my opinion it's a little of both - but I do think people would be more willing to trust Metro if it wasn't so very American, with the gimmicks and showmanship etc. America has not carved itself a positive niche.

Considering the role American financial instiutions had in the financial melt down can you blame people?

**Midas** · 31-07-2010, 09:15 AM

Originally Posted by impertinence

US-owned Metro Bank became the first new addition to the banking highstreet this week and its reception has been... lukewarm, at best.

Some people are incredibly against the franchise.

I guess the question is - is this pure anti-Americanism? Or simply distrust of banks, especially new ones?

In my opinion it's a little of both - but I do think people would be more willing to trust Metro if it wasn't so very American, with the gimmicks and showmanship etc. America has not carved itself a positive niche.

Hi Impertinence, and welcome to the Politics Forum!

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As to your post, I think the answer is two-fold. Firstly there is the public suspicion of any banking institution at the moment due to the role that they've played in the current financial crisis and recession, especially as that this had its roots in the US, as Yeti points out. Secondly from what little I've seen of the publicity, it's far too 'in your face' and gimmicky for British tastes, especially for a bank of all things. American sales and marketing techniques do not, in general, go down well in the UK; we're far more subtle here, and this alone I think will put a great many people off from using the bank. You'd have thought by now that Americans would have learnt this, but it seems not, and I can only put this down to either (or both) arrogance at thinking their way is best or ignorance through not having carried out sufficient market research. There have been some classic failures of American style advertising over here, two which immediately spring to mind are both from the car industry and involved Dodge and Cadillac, the latter I understand managing to sell just one car at a cost of over $5million in advertising! Thirdly I would agree that there is a degree of resistance to American business here, at least overt American business, and unless it becomes far more British in its style, I suspect Metro Bank will be another failure.

**crazylilting** · 31-07-2010, 12:45 PM

American sales and marketing techniques do not, in general, go down well in the UK; we're far more subtle here

That's for sure. If your lucky to find what you want or need here in the UK, good luck finding anyone who knows anything about it in the store it is in.

**Midas** · 31-07-2010, 06:48 PM

Originally Posted by crazylilting

That's for sure. If your lucky to find what you want or need here in the UK, good luck finding anyone who knows anything about it in the store it is in.

Hmm, can't say I've found that in particular, although I will admit that a lot of staff in typical High Street shops could do with a few more brain cells!

**impertinence** · 03-08-2010, 02:15 PM

Hi there, thanks for your welcome. Your answer is really interesting, I agree with the majority of it completely. hit the nail on the head!

**radical change** · 04-08-2010, 05:00 PM

Originally Posted by impertinence

US-owned Metro Bank became the first new addition to the banking highstreet this week and its reception has been... lukewarm, at best.

Some people are incredibly against the franchise.

I guess the question is - is this pure anti-Americanism? Or simply distrust of banks, especially new ones?

In my opinion it's a little of both - but I do think people would be more willing to trust Metro if it wasn't so very American, with the gimmicks and showmanship etc. America has not carved itself a positive niche.

I am not american but they have saved us from the Germans TWICE maybe they will help us out of this crisis, anyhow the bank must be pretty strong to be expanding into another nation

**Midas** · 04-08-2010, 06:49 PM

Originally Posted by radical change

I am not american but they have saved us from the Germans TWICE maybe they will help us out of this crisis, anyhow the bank must be pretty strong to be expanding into another nation

What the Americans did in 1942, which incidentally was to help France as much as the UK, is really of little relevance today. Given that the banking crisis started in the US and they've got their own, very significant, financial problems, so commercial takeovers aside I think it unlikely in the extreme that they'd even consider any rescue missions here.

As far as I'm aware Metro Bank is entirely a UK operation, although Vernon Hill, the founder, is an American who made his fortune in the banking field in the US, building up Commerce Bancorp from 1 branch in 1973 to over 500 branches with assets of over $50 billion when he sold out in 2007. Metro Bank is the first High Street bank to be given a new licence in the UK in about 100 years, and I believe it's had to be capitalised with £75 million in cash to secure initial customers' deposits.

**radical change** · 04-08-2010, 08:48 PM

Originally Posted by Midas

What the Americans did in 1942, which incidentally was to help France as much as the UK, is really of little relevance today. Given that the banking crisis started in the US and they've got their own, very significant, financial problems, so commercial takeovers aside I think it unlikely in the extreme that they'd even consider any rescue missions here.

As far as I'm aware Metro Bank is entirely a UK operation, although Vernon Hill, the founder, is an American who made his fortune in the banking field in the US, building up Commerce Bancorp from 1 branch in 1973 to over 500 branches with assets of over $50 billion when he sold out in 2007. Metro Bank is the first High Street bank to be given a new licence in the UK in about 100 years, and I believe it's had to be capitalised with £75 million in cash to secure initial customers' deposits.

I guess you are right, I am very unexperienced and don't keep up with the news like that.