After years of building up their international banking businesses, many regional banks now offer middle-market clients the same suite of overseas financial services as competitors 10 times their size. Unfortunately for the regionals, most of those clients don't seem to believe it.
A report by the market research firm TNS Global shows that, at a time when overseas demand in the middle-market sector is poised to rocket, the nation's biggest banks are seen as better equipped, or just better, at handling such tasks as funds transfers, foreign exchange and trade finance. JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. led the field: Nearly half of the businesses surveyed said one of the three companies had the "best" capacity to handle such matters. Entities like SunTrust Banks Inc. and Comerica Inc. didn't even register.