Wealth Management 101: The Hidden World of Private Banking
Tom Spencer
JUNE 30, 2023
The financial services industry comprises firms that operate across a range of sectors: Asset & Wealth Management, Banking & Capital Markets, and Insurance.
Banking Finance Marketing Strategy 
The Fed: Chairmen More Powerful Than Presidents
Tom Spencer
JANUARY 19, 2024
The Fed influences the world economy Professors in banking and finance often use the metaphor of the economy as a plane and the Fed as the pilot. The federal funds rate determines the cost of interbank borrowing in the overnight money market, which influences the interest rates that banks charge on consumer and business loans.
Banking 
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Fintechs May Be Corporate Banks’ Best “Frenemies”
BCG
JULY 5, 2016
For all the angst over the disruptive impact of financial technology providers, the smart money in corporate banking sees fintechs as strategic allies, not enemies. Over the past decade, the fintech market has become a hotbed of customer-centric banking innovation.
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China Faces "Minsky Moment" on Ponzi Financing
MishTalk
MARCH 21, 2014
Inquiring minds are tuning into a report on the Ponzi finance setup in China. We have described in detail over the past two years how we believe China’s twin excesses (excessive investment funded by excessive debt) will inevitably unwind, causing a substantial slowdown in China’s economy, significantly below market expectations.
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Project Midas: "Bad Bank" for "Bad Banks"
MishTalk
FEBRUARY 21, 2014
I seriously do not understand this "Bad Bank" concept. If for some reason you disagree, please note that Spain now needs a "Bad Bank" for "Bad Banks". Via translation from El Economista, please consider Another bad bank? Hopefully investors in "bad banks" in Spain have learned their lesson.
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The Ups and Downs of a Career in Consulting
Tom Spencer
JANUARY 20, 2023
Consulting offers a unique breadth of exposure MBB are predominantly strategy consulting firms that mainly work on strategy projects, which are by nature much shorter than the implementation projects undertaken by other consulting firms such as the Big 4 (PwC, EY, KPMG, Deloitte).
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Chinese Banks Hemorrhaging Deposits, 1st Quarterly Drop Since 1999; Banks Offer iPhones, Even Cars for Large Deposits
MishTalk
DECEMBER 22, 2014
Chinese banks have experienced an outflow of deposits for the quarter for first time since 1999. Customers are attracted to trust funds and the stock market which has been on a tear, up 43% in the last six months. Loan Financing Scheme Will Implode Think Chinese banks can lend money at rates that exceed 7 percent safely?
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Strong Economy – Strong Buy-Sell Market
Martinka Consulting
APRIL 26, 2019
Second question: is there similar activity with larger companies, small, mid-sized, and lower middle market firms? Barlow research – Two-thirds of lower middle-market business owners are expected to retire. Sixty percent of them delayed their exit by at least two years, as per a study by Sun Trust Bank. And guess what?
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China's Central Bank Says Stock Market Correction "Mostly Over"
MishTalk
SEPTEMBER 6, 2015
In remarks to the G20 finance ministers, Zhou Xiaochuan, governor of China’s central bank says China Stock Market Correction ‘Mostly Over’. Analysts were instructed " Do not conduct in-depth analysis, and do not speculate on or assess the direction of the market. Anything greater is called a "bear market".
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Embracing Experiential Learning
Tom Spencer
MARCH 11, 2022
A few experiential learning opportunities to look for on campus include consulting clubs, finance clubs, student government, and technology development teams. As a result, students get a glimpse into what working in a particular space may feel like such as consulting, finance, politics, or technology. Opportunities on-campus.
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Is the Stock Market in Big Trouble?
The Fearless Marketer
DECEMBER 17, 2018
Do you remember the stock market crash of 2008? It plummeted because Congress rejected the bank bailout bill. I remember monitoring the news closely, and on the week of September 22 there was heated discussion about the bank bailout bill. So, that week, I took 100% of my money out of the stock market and put it in cash.
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The Transformative Power of AI in Business
Tom Spencer
JUNE 9, 2023
For example, in industries like finance and accounting, AI-powered systems can process invoices, perform data entry tasks, and generate financial reports with minimal human intervention. This data-driven approach can enhance agility and enable businesses to respond in real time in rapidly changing markets.
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147 How the Great Recession Changed Banking
Harvard Business
OCTOBER 31, 2017
Just over 10 years ago, French bank BNP Paribas froze U.S. The market panicked. There was a run on British bank Northern Rock. Over the next year, many banks fell. Investment bank Bear Stearns collapsed. We expect investment banks to embark on an even more fundamental makeover during the next decade.
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A focus on CX and EX helped Citizens Bank thrive amid pandemic
1 to 1
JANUARY 3, 2022
Businesses across all sectors were sent scrambling as the world largely shut down in the pandemic’s early days, but banks – where brick-and-mortar locations historically were the cornerstone of day-to-day business – faced some of the biggest changes and challenges. The right technology is key. It’s still an evolving journey for us.”.
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Winning Isn’t Everything: The Art of Playing Well
Tom Spencer
MARCH 17, 2023
This idea has been echoed by some of the most influential figures in the business and finance world, including Professor Michael Porter, Michael Lewis, and Warren Buffett. As a result, the value of many of these securities plummeted to zero when the housing market crashed.
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Asset Management – Industry Overview (Part 1 of 4)
Tom Spencer
MAY 18, 2019
These asset classes can include public equities/stocks, fixed income/bonds, money markets, commodities, infrastructure, real estate and alternative strategies – including hedge funds, private equity and venture capital. As such, asset manager performance tends to be correlated with stock market performance. Franklin Resources.
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113 How Banks Can Compete Against an Army of Fintech Startups
Harvard Business
APRIL 26, 2017
It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. Other sectors of retail lending have not fared much better.
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European Banks Dump Massive Amounts of Subordinated Debt on Investors
MishTalk
DECEMBER 18, 2013
The Financial Times notes a Big rise in subordinated debt issuance by EU banks Banks have taken advantage of yield-chasing investors to issue $90.7bn of subordinated debt for the year to date, a 41 per cent increase compared to the same period in 2012. It relates to bail-in procedures in the alleged European "banking union".
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Venture Capital: What it Takes to Succeed
Tom Spencer
JUNE 23, 2023
These companies often have innovative ideas and products but lack the capital and resources to bring them to market. Venture capital firms have a wide range of investment strategies and focus on different types of companies and industries. Additionally, internships, networking and informational interviews can also be beneficial.
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Argentine Central Bank Chief Quits in Currency Dispute; Hyperinflation On the Way?
MishTalk
OCTOBER 1, 2014
On Tuesday evening, Argentine President Cristina Fernández accused Juan Carlos Fábrega, head of Argentina’s central bank, of " provoking a devaluation of the peso ". In response Head of Argentine Central Bank Quits. Black Market Rate Shows 78% Decline The black market exchange rate is about 14 pesos to the dollar.
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2 Years of Networking Results in Consulting Job at PwC
Management Consulted
APRIL 20, 2014
He has a really cool history – international i-banking, college football, and more – and THEN he spent 2 years networking his way into a job at PwC. where I worked for IMG (international marketing group) at the Winter Olympics. I then took another internship in finance with Merrill Lynch. Talk about tenacity!
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"Will These Central Bank Morons Ever Learn?" asks Albert Edwards at Societe General
MishTalk
OCTOBER 27, 2014
Central Banks and the Business Cycle I like it when someone besides a few financial bloggers takes the gloves off and starts asking some hard-hitting questions. The problem is that at these stratospheric valuations, the market does not need to suffer an ACTUAL recession to see a crash. Emphasis in italics is mine.
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Highland Park Michigan Skids Towards Bankruptcy, Public Union Pensions to Blame as Usual; Fifth Third Bank and Highland Park in Pension Funding Lawsuit
MishTalk
JANUARY 20, 2014
Michigan Live reports Highland Park pensions in jeopardy if Fifth Third Bank halts loan payments. The city of Highland Park is operating on financial fumes and the pensions of its retirees could be in jeopardy if Fifth Third, one of the banks providing loans to the municipality, cuts of the money stream.
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Ukraine Central Bank Imposes 6-Day Waiting Period on Foreign Currency Purchases; Capital Controls Hit Ukraine in Effort to Halt Money Exodus
MishTalk
FEBRUARY 6, 2014
Ukraine’s central bank imposed limits on foreign-currency purchases after its interventions failed to alleviate pressure on the hryvnia, while President Viktor Yanukovych left to meet his Russian counterpart, Vladimir Putin. Visit [link] to learn more about wealth management and capital preservation strategies of Sitka Pacific.'
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French Industrial Output Drops Unexpectedly; France Finance Minister in Complete Denial; Expect the Unexpected
MishTalk
DECEMBER 10, 2013
France Finance Minister in Complete Denial Those of you seeking still more amusement can find it in one of the usual places: statements made by French politicians. This week the Bank of France upped its forecast for fourth-quarter growth to 0.5 Amusingly, analysts polled by Dow Jones Newswires had expected a 0.2% per cent in 2015.
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Pettis on Strains in China's Banking System; Avoiding the Fall
MishTalk
DECEMBER 26, 2014
Next year will be a very important year for China because possible strains in the banking system and the intensity with which the reformers present their case will give us a better sense both of how much debt capacity the country retains and of how well positioned Xi Jinping and his allies are to implement the needed reforms.
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List of strategy consulting firms in Hong Kong
Tom Spencer
SEPTEMBER 29, 2011
List of strategy consulting firms in Hong Kong 2011. List of strategy consulting firms in Hong Kong. OC&C Strategy Consultants. Roland Berger Strategy Consultants. Applied Value offers strategy, finance, and operations management services. 30/F, One International Finance Centre. Definitions.
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France Finance Minister "I Refuse to Raise Taxes to Close any Budget Gaps"; "Rethinking" the USA
MishTalk
AUGUST 15, 2014
Eurozone strategy is in tatters after economic recovery ground to a halt across the region and France demanded a radical shift in policy, warning that austerity overkill is driving Europe into a depression. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
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The 5 Key Corporate Sustainability Trends in 2023
Comatch
JUNE 21, 2022
In today’s environment, business leaders are faced with a complex blend of social, environmental, market, and technological challenges. With so much to worry about, some executives have been slow to place sustainability at the forefront of their strategy. A Global Shift Toward Sustainable Finance.
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The 5 Key Corporate Sustainability Trends in 2022
Comatch
JUNE 21, 2022
In today’s environment, business leaders are faced with a complex blend of social, environmental, market, and technological challenges. With so much to worry about, some executives have been slow to place sustainability at the forefront of their strategy. A Global Shift Toward Sustainable Finance.
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High-Powered Idiocy from Academic Wonderland; Three Reasons Banks Not Lending; Blinder is Blind
MishTalk
DECEMBER 11, 2013
In an Op-Ed in the Wall Street Journal Blinders says " Don''t only drop the interest rate paid on banks'' excess reserves, charge them. Not long ago—say, until Lehman Brothers failed in September 2008—banks held virtually no excess reserves because idle cash earned them nothing. Banks are capital impaired. I think not.
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M&A Update from ACG
Martinka Consulting
MAY 23, 2022
While the panel spoke of middle market deals a lot of what they covered applies to the lower middle market. Here are my top 10 takeaways, with my comments: It’s a frothy valuation market – sure is although my market has the two sanity checks the larger deals don’t have. 20x plus at $50 million plus deals.
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40 PM vs PMM: Where do you fit?
Tom Spencer
JANUARY 19, 2019
In technology and software companies, there are product management (PM) and product marketing management (PMM) roles. When you think about a PM’s responsibility, the first thing that comes to mind is communicating with engineers to build a product; and for a PMM, it is creating marketing materials for the product. Image: Pexels.
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Asset Management – Recent Trends (Part 4 of 4)
Tom Spencer
JUNE 8, 2019
Asset management as an industry is becoming increasingly important for a variety of reasons: The world is getting wealthier, driven by growth in emerging markets. This strategy, paired with structural changes driven by government policy (education, energy) is designed to position a country for the next generation.
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60 Oliver Wyman interview preparation: the inside story
Management Consulted
AUGUST 1, 2013
Oliver Wyman’s strategy consulting practice has made waves specifically in the financial services sector , and beyond as well. Now a subsidiary of Marsh & McLennan, Oliver Wyman is known to give MMC its strong reputation as experts over other insurance providers because of the firm’s focus on strategy. Public Policy.
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Greek Banks' Non-Performing Loans Hit 43%; Only €14 Billion Recapitalization Needed?
MishTalk
NOVEMBER 4, 2015
On November 1, I noted Greek Banks Need €14 Billion Recapitalization Following Latest Stress-Free Tests. My comment was " Greek banks did much better than expected in the latest ECB stress test (undoubtedly stress-free). The ECB's adverse scenario shows Greek banks only underfunded to the tune of €14 billion. Lars writes.
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Mish's Global Economic Trend Analysis: Expect Another "Bad Bank.
MishTalk
JULY 14, 2013
Minyanville Business and Market News. Get Involved The State of the Unions Finances: A Citizens Guide. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Expect Another "Bad Bank" Bailout in Spain; Humorous Details of Sarebs Property Assets. Abolish The Fed Sign the Petition.
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Austria "Bad Bank" Goes Bad, $8.5 Billion "Bail-In" Underway
MishTalk
MARCH 1, 2015
This entire notion that you can take bad assets from a bank and put them in a "bad bank" to make everything well, is ridiculous. The step, allowed by new legislation that gives banking supervisors more power to intervene, followed an outside audit of Heta''s balance sheet that exposed a capital hole of up to 7.6 More than 9.8
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28 $550 Billion Energy Junk Bond Bubble Busts; "Whac-A-Mole" Distortions in Multiple Markets
MishTalk
DECEMBER 11, 2014
Since early 2010, energy producers have raised $550 billion of new bonds and loans as the Federal Reserve held borrowing costs near zero, according to Deutsche Bank AG. percent in June, according to Bank of America Merrill Lynch index data. CJES), postponed financings this month as sentiment soured. percent this week from 5.7
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Bank of Japan Buying Over 100% of Japanese Bond Issuance; Steen Jakobsen Expects "FantasyLand Will Give Way to RealityLand"
MishTalk
NOVEMBER 2, 2014
China Momentum The world is now reduced to: Japan QE Infinite (Helicopter money next) – BOJ is buying more than 100% of issuance from Ministry of Finance now! Safe travels, Steen Three Key Steen Opinions Japan QE Infinite (Helicopter money next) – BOJ is buying more than 100% of issuance from Ministry of Finance now!
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71 ECB Cries Uncle, Halts ELA Amid Run on Greek Banks; Capital Controls and Bank Holiday Next?
MishTalk
JUNE 28, 2015
Today, amid an accelerating run on Greek banks, the ECB capped the ELA. Here is the key point " No more extra emergency funding to Greece’s banks, despite steady outflow of deposits since crisis escalated. That’s because commercial bank reserves have probably been significantly depleted by the rush to some cash machines this weekend.
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28 Battle Cry of the Day: Save the Bondholders; Failed Bank Resolution on Verge of Unraveling Days Before Ratification
MishTalk
APRIL 7, 2014
In lengthy negotiations last month the EU reached a deal on how to handle failed banks. Please consider EU Deal on Bank Failures Risks Unravelling A landmark EU agreement on a common rulebook for handling bank failures is in danger of unravelling over the fine print restricting when a state can intervene to rescue a struggling bank.
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Bank of Japan Vows to Stick with Easy Money Policy; If It Doesn't Work, Do More of It
MishTalk
DECEMBER 12, 2013
Abe hijacked the Bank of Japan with policy appointments under his influence and now the BoJ vows to stick with easy money policy even though over 100% of the recorded inflation is due to the declining yen, not higher wages as Abe wants. The Financial Times reports Bank of Japan Vows to Stick with Easy Money Policy.
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Greece Empties IMF Reserve Account to Pay IMF; Liquidity "Terribly Urgent" Says Finance Minister
MishTalk
MAY 12, 2015
Greece emptied an IMF holding account to repay 750 million euros ($840 million) due to the fund, a Greek central bank official said, avoiding default but underscoring the dire state of the country's finances. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
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