Jardine Fleming, a sister company of Britain's Robert Fleming, is the only firm which qualifies for that status.

ECONOMIST: Local restrictions permitting

He stayed on in the army after the war until 1967 when he worked part time for Robert Fleming, a merchant bank with family connections.

ECONOMIST: Duke of Norfolk

Nick Jefcoat, a managing director at Robert Fleming, says well-known investors are scrutinising the 1, 000 or so young German firms that are thinking of going public.

ECONOMIST: European stockmarkets