Financial crisis and ownership of global banks

The aim of this work is to analyze the shareholder structure of the major European and American banking groups, with particular emphasis on the period surrounding the subprime mortgage crisis and the subsequent recapitalization initiatives undertaken by Sovereign Wealth Funds (SWFs) and national governments. The study analysed the 44 most important global banking groups in terms of capitalization (at 30 June 2008) and total assets (end of 2007). Twenty-three groups are based in Europe, 18 in the United States and Canada, and three in Japan. The source of data at 30 June 2008 was Bankscope, a database that provides detailed information on: • Controlling/strategic holdings vs. float; • Type of shareholders, i.e. bank, employees/managers, financial company, foundation/research, industrial company, insurance company, mutual and pension fund, private equity firms, self-owned shares, individuals and families and state-public authority; • Country of origin of shareholders.