While the managerial rationale for adopting customer relationship management (CRM) has been fairly well articulated in the literature, research on strategy development is scant. Moreover, reports of “CRM failures” in the popular business press have done little to inspire confidence. To date, what little research has been conducted in the area of CRM strategy development has been confined to a single country (often the U.S.). Global CRM strategy development issues have yet to be specifically addressed, particularly which elements of CRM strategy should be centralised/decentralised. The present study examines the complexities of global CRM strategy using the case of a leading financial services company. Interviews are conducted in 20 countries. Global Head Office and external IT consultant perspectives are also considered. Our findings confirm that a hybrid approach has wide practical appeal and that subsidiary orientation towards centralisation/decentralisation is moderated by firm/market size and sophistication.