Transcript: Thomas Russo interview

Gillian Tett: Obviously one of the hot topics at Davos this week is the issue of financial market regulation, and competition between financial centres, and I had wondered if you could tell us how you see the competition developing between New York and other centres like London at the moment?

Thomas Russo: Well, the competition is certainly fierce, if you look at just some of the literature from for example London Stock Exchange they make much of the fact of the difference in the regulation and the litigation in the United States, and it's been quite effective...

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