Step out of Liverpool Station and into London's financial district and the accents you hear are as likely to be American as English.

More than any other foreign city, London is a home away from home for U.S. commercial banks. That includes some of the biggest names, such as J.P. Morgan & Co. and Citicorp; as well as smaller regional institutions, such as Mellon Bank Corp. and Wachovia Corp.; and niche players, such as Riggs Bank.

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