I just received a report from the Economist Intelligence Unit (EIU) on new bank models based upon different styles of banking in emerging markets. According to the report, the BRIC economies and their brethren will account for 35% of global assets by 2016, up from 24% today and just 10% in 2004. Emerging market banks are growing…
I started another debate yesterday after saying that English is the global language. It is. It is not the largest spoken language – that’s Mandarin Chinese – but it is the largest global language spoken across borders thanks to the internet. English is spoken as a second or foreign language by an estimated 950 million…
Further to yesterday’s dialogue around TQM, I got into a conversation with a couple of folks about the fact that we don’t have real STP, Straight Through Processing, in most financial firms. One senior manager said that he had started focusing upon STP back in the 1970s and couldn’t believe that, thirty years later, we…
When I was growing up in business, there weren’t many management gurus around. In fact, I think there was just one: Peter Drucker. Drucker was the book for every student of management. He was it. Then I moved into industry and another book came out: In Search of Excellence. This one was by Tom Peters…
Which? Magazine stirred up the old debate about free banking yesterday, by publishing a report which shattered the image of free banking being free. They asked over 2,000 consumers how they felt about banks and more than 60% of those surveyed said they had paid a bank charge that they thought was "unfair, hidden or disproportionate"….
One of the reoccurring conversations in banking is trust. I’ve blogged about it many times, and it’s a point that arises in almost every conversation about how banks prosper. There are two sorts of trust here however. Trust in banks to do the right thing, and trust in banks to manage our money with accuracy….
The Olympic Games have ended. What will we do now? Back to reality? Back to LIBOR fixes, money laundering scandals and selling products you weren’t supposed to sell to muppets who weren’t meant to buy them? Or keeping the good cheer and positive moment and moving onwards and upwards? This is the theme of most…
I was amused to read the story about Barclays Bank making all of their staff watch a video about how not to rig interest rates recently. This followed the LIBOR scandal, and is a 12 minute piece to camera starring interim Barclays CEO Rich Ricci, Bob Diamond’s other right hand man at the bank after…
As you can see from this morning’s headlines, Standard Chartered Bank (SCB) is being investigated for supporting Iranian banks and businesses, much to the irritation of the US Authorities. The newly formed New York State Department of Financial Services (DFS) – note, this is not a Federal Institution but the New York equivalent of the…
