As large U.S. companies review their banking relationships ahead of a potential economic downturn, they should use any shifts as an opportunity to address pervasive service issues. If history is a guide, large U.S. companies will start consolidating their banking lists if and when they see signs of a recession in the year ahead. That’s the strategy companies have followed in the past as a means of buttressing relationships with their most important credit providers in deteriorating business and economic environments.
MethodologyFrom May through December 2022, Coalition Greenwich conducted 265 interviews in large corporate banking, 307 interviews in large corporate cash management and 130 interviews in trade finance at U.S.-based companies with $2 billion or more in annual revenue. Participants were asked about market trends and their relationships with their banks. Trade finance interview topics included product demand, quality of coverage and capabilities in specific product areas.