Thomas Cook Finds Retail FX Business Pays Off Straddles Fine Line Between Corporate And Bank
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Thomas Cook Ltd. celebrates the first anniversary of its purchase of Deak Perrera this week. The deal made it one of the world's largest retail currency dealer and increased its foreign exchange trading revenues for 1990 by 130 percent to £31 million--respectable results for any medium-sized bank. But Cook, although a subsidiary of Midland Bank, is not really a bank in its own right: its status, somewhere between a bank and a corporate, makes it a strange animal indeed.
With the addition of Deak
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