According to the Financial Times, the financial services provider is winding down some of its operations in Spain and Greece as part of returning bail-out funds to the US government.
However, according to individuals familiar with the matter and cited by the news provider, the bank is planning on launching a slimmer network of flagship outlets in key European territories as a way of streamlining its business presence.
Branches in the UK, Germany and France are predicted with these new outlets expected to make up a global network of 100 key cities for the bank, the FT reported.
An unnamed source told the news provider: âFurther down the road, we will open up in key cities in Western Europe. 2011 is a potential turning point.â
The news follows recent developments for the bank in Asia-Pacific where it recently launched its first Smart Banking branch in Singapore.
New features include interactive touch screen panels for information access, video-conferencing with analysts and advisors and media walls.
By Jim Ottewill