China Merchants Bank (CMB) is relatively new to the U.S. market. Having opened its New York branch (CMB-NY) in 2008, CMB is interested in (a) understanding the history and logic behind the business choices made to-date by other foreign banks operating in the U.S. and (b) developing a road map to guide CMB’s U.S. business strategy for the years to come.  The Capstone team will study the evolution of the U.S. business strategy of a group of foreign banks selected for comparison with CMB. Learning from their wisdom and possible mistakes, the team will develop guidelines for CMB’s medium term U.S. business strategy in, both, wholesale banking (corporate and investment banking) and private banking.