TNAG-0336-FCO40-372-Visits-of-Governor-of-Hong-Kong--Sir-Murray-MacLehose--to-UK-1972 — Page 98

National and Grindlay's Kerr: “We are going local.”

National and Grindlay's sets up shop in Hong Kong

FROM THE BUSINESS DESK A BANK which has its origins in the tea, jute and engineering trade of Calcutta over a century ago has opened an office in Hong Kong, with the intention of expanding its services in the Pacific area. This is National and Grindlay's Bank, which is thus joining the growing number of banking and trading companies which are extending and deepening their activities in the Colony.

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Heading the local office of National and Grindlays is Mr Colin Kerr, who has been with the bank for many years in its widespread branches, which run from the Middle East through East Africa and on into Southeast Asia. The bank already has a Hong Kong connection it now holds a majority shareholding in Dao Heng Bank there. It has representatives in Singapore and Tokyo, and Mr Kerr says: "There is a new trend in our thinking – we are going local, so to speak, by joining with local interests. We are primarily a foreign bank, east of India and Ceylon.'

Among the areas of the Pacific that National Grindlay's is eyeing tor possible new development is Fiji and, Mr Kerr adds: "I shall

be very disappointed if we don't soon set up a branch in Japed." **

Reference.

The Asian

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-15 July '72

DD 897152 154596 500M 2/72 GM 3643/2