The topic is investment banking (not retail banking) but both RBC and TD Bank entered the US market by buying US banks. And this is exactly what I said European

The topic is investment banking (not retail banking) but both RBC and TD Bank entered the US market by buying US banks. And this is exactly what I said European investment banks tried to do. >Europe also runs a trade surplus with the U.S. so it's unclear where this macro trend you think exists comes from either. Financial services are only a small part of the economy compared to e.g. raw materials. But I'm not an economist/accountant so I don't know where it comes out in the wash as regards trade surplus when a UK subsidiary of a US company makes money in the UK.