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.
Management Consulting versus Investment Banking
Management Consulted
DECEMBER 16, 2008
The cons of investment banking – the long hours, the repetitive and unengaging nature of the work, the lack of non-finance exit opportunities – mattered far more to me than a 6-figure salary. Cashflow or not, the extra money is substantial and a defining driver of why many people do investment banking. 2 LIFESTYLE.
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Trending Sources
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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88 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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3 ways financial advisory consulting bests strategy consulting
Management Consulted
JULY 22, 2013
From the variety of work and access to C-level executives to the wide array of exit opportunities, strategy operations consulting far surpassed financial advisory consulting as our recommended career to pursue. Find it here: 5 reasons to choose strategy operations over financial advisory consulting. Missed part one?
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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. In recent weeks, a trip to the region and further research into China’s shadow banking system have convinced us that China is approaching its “Minsky Moment,” which increases the chances of a disorderly unwind of China’s excesses. Morgan Stanley agrees.
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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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Example Companies Involved with Behavioral Economics
Steve Shu Consulting
JULY 1, 2018
Lloyds Banking Group: Behavioural Economics Specialist – Digital Banking. Voya: Behavioral Finance | Voya For Professionals. Steve Shu specializes in incubating new initiatives with a primary focus on strategy, technology, and behavioral science. Mercer: Personalised Pension Videos. NEST: [link]. Opower: Opower UX.
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Transitioning from Management Consulting to Corporate Strategy/M&A – the Interview Process
Tom Spencer
FEBRUARY 28, 2021
As a result, many consultants shift to industry and join the client’s side so that they can not only offer solutions but also take more ownership to formulate, execute, and implement a strategy from start to finish. BizOps / Strategy & Operations at tech firms. Corporate Strategy. What is corporate strategy?
Interviews 68
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Ralph Hamers on Disrupting the Banking Industry
BCG
SEPTEMBER 20, 2016
To this end, ING aims to simplify the banking experience, making its services fast, easy, and accessible. Ralph) Hamers has been with ING for 25 years, becoming CEO in 2013 after a variety of roles in wholesale banking, lending, finance, credit risk management, and retail banking.
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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. To compete for funds, Chinese banks offer anything from fresh vegetables for small deposits to a Mercedes A180 for deposits big enough and long enough. The effective yield on the Mercedes is approximately seven percent!
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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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88 The Emergent Career Strategy - Practical Considerations
CaseInterview.com
DECEMBER 4, 2019
I recently wrote an article about the difference between Planned vs. Emergent Career Strategies. The emergent strategy sometimes reveals itself in the process of pursuing the original career plan. I met an investment banker, an equity research analyst, an EVP at Wells Fargo (one of the top 10 banks in the U.S.),
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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.
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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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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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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.
Finance 88
88 How the Great Recession Changed Banking
Harvard Business
OCTOBER 31, 2017
Just over 10 years ago, French bank BNP Paribas froze U.S. 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. The New Face of Investment Banks.
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28 6 Ways You Can Prepare for Consulting Right Now
Management Consulted
JANUARY 29, 2017
Here are 6 ways to prepare for consulting as you wait for the next chance to drop that resume: 1) Go work for a brand name company, but do something that is sales, operations, or strategy related. 4) Get a job in finance, but not personal finance (financial advisory consulting or in an internal finance department of a company).
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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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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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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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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. Visit [link] to learn more about wealth management and capital preservation strategies of Sitka Pacific.'
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71 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. Here''s a chart that shows just that. pesos to the US dollar. Today the peso trades at 8.45 to the US dollar.
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69 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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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. I then took another internship in finance with Merrill Lynch. I also explored other areas of finance and ultimately decided that I wanted to give investment banking a shot.
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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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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. Investment banks made huge profits along the way, and often knew that these securities were overvalued and going to fail.
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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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73 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 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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"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. Simply put, the central banks for all their huffing and puffing cannot eliminate the business cycle. Only those who believe in voodoo can get a job at a central bank.
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75 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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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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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. Visit [link] to learn more about wealth management and capital preservation strategies of Sitka Pacific.
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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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Strategy and general business consulting firms in Australia
Tom Spencer
MAY 31, 2012
Strategy and general business consulting firms in Australia 2012. THE list of strategy and general business consulting firms is part of the full list of consulting firms in Australia : Tier One – Global. Pacific Strategy Partners. Pacific Strategy Partners. Definitions. Helpful Links. in Management Consulting.
Oliver Wyman 122
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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.
Policies 71
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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. Robotic Process Automation (RPA) is becoming widely adopted to automate manual processes, reduce errors, and increase efficiency.
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Mish's Global Economic Trend Analysis: Expect Another "Bad Bank.
MishTalk
JULY 14, 2013
Get Involved The State of the Unions Finances: A Citizens Guide. Expect Another "Bad Bank" Bailout in Spain; Humorous Details of Sarebs Property Assets. Spains bad bank, Sareb, has plans to unload 45,000 distressed properties in five years, over 7,500 of them in 2013. Expect Another Bad Bank Bailout. Home Builders.
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The 5 Key Corporate Sustainability Trends in 2023
Comatch
JUNE 21, 2022
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. Companies will be incentivized to shape revenue strategy around sustainability best practices. These changes will potentially affect all organizations.
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The 5 Key Corporate Sustainability Trends in 2022
Comatch
JUNE 21, 2022
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. Companies will be incentivized to shape revenue strategy around sustainability best practices. These changes will potentially affect all organizations.
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52 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. Asset management can be broadly divided into retail and institutional asset managers depending on whose money they handle.
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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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