Scardovi Restructuring and Innovation in Banking

1. Auflage 2016
ISBN: 978-3-319-40204-8
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 106 Seiten

Reihe: SpringerBriefs in Finance

This book explains how to restructure and successfully turn around a bank or financial institution at a time when the global financial system is facing a new wave of disruption ushered in by innovation from digital financial technology, or FinTech. It is argued that within banking this process of creative destruction will entail unprecedented challenges for traditional institutions as well as opportunities for new, mostly digital, players. A great deal of restructuring, turnaround, and transformation will be required. While information on these topics is widely available with respect to corporates, this is not the case for banks. The book addresses this neglected area in detail, analyzing the changes that have been set in motion, examining how creative destruction can be anticipated by both old and new players, and explaining how to better manage restructuring and innovation in banking. The book will appeal to top and middle managers of banks and financial institutions, advisers, regulators, academics, and students.

Claudio Scardovi is a managing director and head of Financial Services for EMEA at AlixPartners. For the last 15 years he has been managing director for a number of companies including KPMG, Accenture, Intervaluenet, Oliver Wyman, Lehman Brothers, Nomura, and Advent. He is a professor at Bocconi University, at SDA Bocconi, and at Imperial College. A serial entrepreneur, he has written more than 200 articles and 13 books, published by Edibank, EGEA, Il Sole 24 Ore, Quondam, Mondadori, and Springer.

Autoren/Hrsg.

Scardovi, Claudio

Inhaltsverzeichnis

1;Preface;6
2;Contents;8
3;1 Creative Destruction in the Global Financial System;10
3.1;Abstract;10
3.2;1.1 The Gale of Creative Destruction;10
3.3;1.2 If Lehman Was just the Beginning;12
3.4;1.3 The Phoenix;14
3.5;1.4 Why Banking Is Different;16
3.6;1.5 If a SIFI Were to Fail;17
3.7;1.6 If a SIFI Needs to Fail;20
3.8;1.7 The Beginning of a “Bankaround”;24
3.9;1.8 Lehman Brothers, the Long Short;26
4;2 Fin Tech Innovation and the Disruption of the Global Financial System;29
4.1;Abstract;29
4.2;2.1 The Wave of Fin Tech Innovation;29
4.3;2.2 New Entrants and Disruptive Technologies;32
4.4;2.3 Breaking up the Banking Value Chain;37
4.5;2.4 Innovation and Disruption in Payments;39
4.6;2.5 The Distributed Ledger Technology and Challenge;44
4.7;2.6 Innovation and Disruption in Lending;45
4.8;2.7 Innovation and Disruption in Asset Management;47
4.9;2.8 Innovation and Disruption in Investment Banking;49
4.10;2.9 Innovation and Disruption in Insurance;52
4.11;2.10 Transform or Die (The Quick and the Dead);55
5;3 An Approach to Bank Restructuring;58
5.1;Abstract;58
5.2;3.1 Bankaround: The New Game of the Game;58
5.3;3.2 The Unfolding of a Financial Crisis in Three Steps;59
5.4;3.3 Credibility Is Everything, and the Three Capitals;63
5.5;3.4 The “Bankaround” Approach, or RTX2;65
5.6;3.5 Restructuring;66
5.7;3.6 Turnaround;72
5.8;3.7 Transformation;75
5.9;3.8 Resolution;77
5.10;3.9 The Citigroup Case Study: Avoiding Nationalization at All Costs;78
5.11;3.10 The Hypo Real Estate Case Study: The State Footing the Bill;81
6;4 A New Resolution Regime in the European Union;84
6.1;Abstract;84
6.2;4.1 A Safety Net to “Let Them Fall Safely”;84
6.3;4.2 The Safety Net in European Banking;86
6.4;4.3 “European in Life, and National in Death”, No More;89
6.5;4.4 Resolution Versus Liquidation;91
6.6;4.5 Capital Ratio and the “Bail In”, from Tax Payers to Deposit Holders;94
6.7;4.6 Banca Marche: The Origins of Its Demise;97
6.8;4.7 Banca Marche: The Build up to Its Final Fall;98
6.9;4.8 The Resolution and Final “Burden Sharing”;100
6.10;4.9 Conclusion: The Bankaround to Come;102
7;Bibliography;106