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.
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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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New Yuan Loans and Shadow Banking Collapse in China; Record Bank Deposit Slump
MishTalk
AUGUST 13, 2014
Chinese Credit Just Collapsed and shadow banking with it. Shadow Banking Aggregate social financing was 273 bn yuan versus 1500.0 bn expected and prior was 1970 bn implying that shadow banking credit contracted 112 bn in the month. trillion yuan from the previous month, the central bank said today. bn versus 780.0
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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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Navigating the Landscape of Career Options
Tom Spencer
AUGUST 4, 2023
To do this, we will use a concept called rugged landscapes , a common strategy tool in business management. Life is like a landscape For a moment, let’s consider life as a three-dimensional landscape: the job market is full of hills and valleys, which represent varying levels of success.
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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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The Most Common Money Fears of Consultants & Coaches (and How to Get Over Them)
Consulting Matters
JANUARY 29, 2020
The presence of money fears can be good if they act as alerts to be strategic about investments and with marketing and sales. When I started my business, I was a single mom with only $200 in the bank. I had just come through a divorce the decimated my finances. It's just not smart marketing. You can master marketing too.
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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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40 Unfit for Next Crisis; Laughable Banking Union Revisited
MishTalk
DECEMBER 19, 2013
Please consider Der Spiegel Online article: Not Fit for the Next Crisis: Europe''s Brittle Banking Union. German Finance Minister Wolfgang Schäuble has negotiated a European banking union suited perfectly to his country''s tastes. Here is an interesting article in Der Spiegel Online that echoes recent statements of mine.
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Laughable Eurozone Banking "Non-Union"; Expect Disorderly Breakup
MishTalk
DECEMBER 17, 2013
On December 12 the Financial Times reported EU reaches landmark deal on failed banks with a "common rule book for handling failed banks". The next day, a friend commented the banking union agreement proved me wrong. I replied "wait for the details". Some senior officials are warning the proposals are too cumbersome.
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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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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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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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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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48 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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Ukraine Government Delays Vote, Currency Hits Record Low, Default Feared; Ukraine Asks for $35B, Bank Runs Underway
MishTalk
FEBRUARY 25, 2014
Russia’s deputy finance minister said there’s a high chance Ukraine will default. Russia’s Deputy Finance Minister Sergei Storchak echoed those concerns. Lawmakers yesterday moved quickly to appoint Stepan Kubiv, the ex-chairman of Lviv-based VAT Kredobank, to head the central bank after voting out Ihor Sorkin.
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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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78 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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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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78 IMF Proposes Eurozone Fiscal Union, Banking Union, Harmonized Employment, Common Unemployment Scheme, Firewall Tax
MishTalk
SEPTEMBER 27, 2013
Fund staff argues that ommon fiscal governance, along with the banking union, are necessary to offset the "weaknesses in the architecture" of the eurozone, reinforce the club of 17 to future crises. In addition, the study argues that the most urgent step to acquire banking union goes through a firewall overall tax.
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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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Tactical Rabbit, Money Laundering, and Outright Criminal Activity by Major Banks
MishTalk
JANUARY 28, 2014
In case you don''t recognize the name, Stern disclosed the money laundering activities of HSBC, for which the bank was fined $1.9 Eric Holder specifically said during Senate hearings that prosecuting these banks criminally could cause a financial crisis. An interesting Video Interview With Whistleblower Everett Stern just came my way.
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76 Greece Bank Deposits Drop to 11-Year Low; Creditors Offer 6 Month's Financing; Round One of Saga Nearly Over
MishTalk
JUNE 26, 2015
Financing Dangle Please consider Merkel, Hollande Dangle Financing Before Greece's Tsipras. PLAN B" If Greece refuses, the ministers will move on to discussing a "Plan B" on preparing to limit the damage from a Greek default to Greek banks and other euro zone countries and markets, the official said. billion to €129.9
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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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Growth of Fintech and Disruption of Brick-and-mortar Financial Institutions
Tom Spencer
JULY 6, 2019
The idea that technology can be configured to drastically improve the delivery and usability of finance began taking off following the financial crisis of 2008, when consumer distrust for traditional banks combined with the increasing popularity and functionality of smartphone apps.
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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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60 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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