...Swiss Private Banking Table of Contents: I. Introduction: 1) Economy of Switzerland; 2) Overview of Swiss Private Banking Sector; II. Strengths and Opportunities of Swiss Private Banking: 1) Privacy; 2) Protection and Safety; 3) Stability and High Quality Standards; III. Weaknesses and Problems that Swiss Private Banking is facing: 1) Dependency on socio- demographic factors; 2) Shifting of wealth concentration; 3) Speed of recovery of markets; 4) Threat to offshore banking; 5) Hard to ensure sustained profitability; IV. Offshore banking in the light of current financial crisis V. Differences in the way different sized banks were effected: 1) Megabanks; 2) Small – medium sized banks; VI. Strategies adopted by private banks after financial crisis: 1) Credit Suisse; 2) UBS; VII. Conclusion Switzerland is one of the most stable, modern and highly developed economies in the world nowadays. Percentage of Swiss Workforce by Sector of Economy is as following: - 1960: Services (39%); Manufacturing (47%) ; Agriculture (15%) ; - 2008: Service (73%); Manufacturing (23%); Agriculture (4%). Economic history of Switzerland is characterized by steady movement to higher productivity industries and services. Traditionally, the Swiss economy used to ran as calmly and soundly as a Swiss clock, well-oiled by the money inflows to Swiss private banks. The country of Switzerland has a small territory compared to surrounding countries and...
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...McKinsey Banking Practice McKinsey Private Banking Survey 2012 Finding a new footing July 2012 Contents 05 Introduction 19 06 12 Middle East: Attractive but increasingly competitive Western Europe: Fighting for sustainable profits 21 Priorities for finding a new footing North America: Expanding profitability, but no growth 26 27 Disclaimer 16 Authors Asia: Growing fast but at a cost McKinsey Private Banking Survey 2012 Finding a new footing 5 Introduction Private banking may be one of the most attractive segments within financial services in 1 terms of profitability, but it has not emerged unscathed from 4 years of financial crisis. Not only did the crisis hit the economics of the industry by slowing net inflows and squeezing margins, it has also led to structural changes. Following a difficult year in 2009, when net inflows in developed markets were negligible and margins and profits hit record lows, a modest improvement was seen in 2010. It seemed at first that this recovery would continue in 2011. But, after a good start, the industry suffered from a difficult second half: markets fell and profits stagnated at low levels. The situation has not yet improved in 2012; another good start was wiped out in the second quarter. Given the continued growth in global wealth, this implies that private banks are failing to capture their fair share of the market. The longer-term structural changes caused by the crisis are creating...
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...GOVERNMENT REGULATED BANKING SYSTEM WAS FELT.SO IN 1969,INDIAN GOVERNMENTR TOOK THE HISTORIC DECISION TO NATIONALISE 14 BIGGEST PRIVATE COMMERCIAL BANKS.THE NEW GENERATION PRIVATE BANKS HAVE NOW ESTABLISHED THEMSELVES IN THE SYSTEM AND HAVE SET NEW STANDARDS OF SERVICES AND EFFICIECY. WHILE IT IS QUITE EVIDENT THAT INCLUSIVE GROWTH IS IMPERATIVE FOR ACHIEVING THE EQUITY OBJECTIVE,WHAT IS PERHAPS,NOT SO OBVIOUS IS WHY INCLUSIVE GROWTH IS NOW CONSIDERED ESSENTIAL EVEN TO SUSTAIN THE GROWTH MOMENTUM. IN MANY OF THE EMERGING MARKET ECONOMICS,THE MAJOR OF THE CHUNK POPULATION IS IN RURAL AREAS.SIGNIFICANT INCREASE IN DEMAND FOR MANUFACTURING AND SERVICESSECTORS HAS TO COME FROM RURAL POPULATION.THE AVERAGE MONTHLY PER CAPITA CONSUMPTION EXPENDITURE IN URBAN AREAS OF COUNTRY IS ALMOST DOUBLE THAN OF ITS RURAL AREAS.THE GROWTH IN AGRICULTURE IS NECESSARY TO KEEP MANUFACTURING PRICES UNDER CHECK,PROVIDE FOOD SECURITY AND KEEP INFLATION UNDER CONTROL. LIMITATIONS ON INCREASING PRODUCTION AND PRODUCTIVITY IN AGRICULTURE ARE DRIVING MIGRATION TO URBAN AREAS,LEADING TO POPULATION PRESSURE IN THESE AREAS AND EXERTING FURTHER STRESS ON EXISTING ON INFRASTRUCTURE. BANKING SYSTEM AND FINANCIAL INSTITUTION PLAY VERY SIGNIFICANT ROLE IN ECONOMY.FIRST AND FOREMOST IS IN THE FORM OF CATERING TO THE NEEDS OF CREDIT FOR ALL THE SECTIONS OF SOCIETY.AN EFFICIENT BANKING SYSTEM MUST CATER TO...
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... Word Count – 2605 Not including Executive Summary and Calculations Executive Summary Westpac Private Bank aims to provide exceptional banking services to a select group of High Net worth clients. Within Westpac Private Bank’s supply chain, a continual balance has to be maintained between easy and quick transactions, while security for both the client and the bank are maintained at the highest possible level. This report will look at the supply chain management of completing service requests for clients, and make several recommendations in which to improve the processes for client services within Westpac Private Bank. Table of Contents * 1.1 Overview of Westpac Private Bank 5 * 1.2 Account Service Process within Private Bank 7 * 2.0 Analysis of the Process 9 * 3.0 Recommendation of Key Improvements 12 * 3.1 Implementation of Recommended Improvements 16 * 4.0 Conclusion 19 * 5.0 References 20 * 6.0 Appendix ...
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...College of Engineering Trichy, Tamilnadu, India E-mail: arunkanthh@yahoo.co.in S. Prabhakaran College of Business Administration in Alkharj, King Saud University P O Box 165, 11942, Alkharj, Saudi Arabia E-mail: jopraba@gmail.com Abstract Financial liberalization has led to intense competitive pressures and private banks dealing in retail banking are consequently directing their strategies towards increasing service quality level which fosters customer satisfaction and loyalty through improved service quality. This article examines the influence of perceived service quality on customer satisfaction. The article concludes that increase in service quality of the banks can satisfy and develop customer satisfaction which ultimately retains valued customers. Keywords: Perceived Service Quality, SERVQUAL, Customer satisfaction 1. Introduction Private Banks dealing in retail banking Industry is consequently put into lot of pressures due towards increase in global competition. Various strategies are formulated to retain the customer and the key of it is to increase the service quality level. Typically, customers perceive very little difference in the banking products offered by private banks dealing in services as any new offering is quickly matched by competitors. Parasuraman et. al (1985) and Zeithaml et., al (1990) noted that the key strategy for the success and survival of any business...
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...located outside the country of residence of the depositor. Offshore banking has often been related with the underground economy and organized crime, via tax evasion and money laundering; though legally offshore banking does not prevent assets from being subject to personal income tax on interest. Even though, offshore banks may decide not to report income to other tax authorities, and have no legal obligation to do so as they are protected by bank secrecy, this does not make the non-declaration of the income by the tax-payer or the evasion of the tax on that income legal. September 11, 2011 onwards there were many calls for more regulations on international finance, in particular concerning offshore banks, tax havens, and clearing houses such as Clear stream, based in Luxembourg, being possible crossroads for major illegal money flows. These attempts have been criticized at regulation by defenders of offshore banking. They claim the process is provoked not by security and financial concerns but by the desire of domestic banks and tax agencies to access the money held in offshore accounts. They mention the fact that offshore banking offers a competitive threat to the banking and taxation systems in developed countries, suggesting that Organization for Economic Co-operation and Development (OECD) countries are trying to stamp out competition. There are many advantages as well as disadvantages of offshore banking. Offshore banks provide access to politically and economically steady...
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...Bank * Barclays Bank,one of the largest scale bank and financial institution in the world, with headquarter in the UK,was founded in 1690. As the oldest bank in the UK, it has more than 300 years' history and is the first bank which possess ATM in the world. Barclays Bank is global seventh largest bank with total assets around 1.49 billion pound. * Scale of Barclays Bank * Centering on the UK,Barclays Bank provides financial service,which mainly focus on the investment and banking industry.Also, the bank has branches in other countries with its strong influence.The scope of Barclays Bank has covered more than 60 countries,containing all financial centers.It has more than 139,200 employees worldwide,with 55,300 employees work in the UK. * Main business * Global retailing * The business of GRCB contains the business of the UK retailing bank, commercial bank of Barclays Bank, credit card and international retailing of Barclays Bank.The business of credit card of Barclays Bank provides credit cards and the business of consuming loans,which could help retailers deal with the payment service and issue the credit card to corporate clients and UK government. * Banking management * The IBIM including the business of capital,global investment and wealth management. Barclays Investment is a global investment bank which provide solutions for clients of corporates, institutions and government in order to satisfy their needs of finance and risk management...
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...A world of experience We are one of the world's largest banking and financial services organisations. We look after the needs of over 60 million customers, across 80 countries and territories, every major economy in Europe, Asia-Pacific, the Americas, the Middle East and Africa. Our worldwide connections enable us to offer our customers a truly global perspective built upon local knowledge and expertise. HSBC sponsors sports which represent our core values and allow us to connect with local communities at a grass roots level HSBC Key Facts * Founded in 1865 * Headquartered in London * Around 6,600 offices in 80 countries and territories within HSBC's international network * One of the largest banking and financial services organisations in the world * Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. Our objective is to become the world’s leading international bank. Our strategy is aligned to two long-term trends: * The world economy is becoming ever more connected, with growth in world trade and cross-border capital flows continuing to outstrip growth in average gross domestic product. Over the next decade we expect 35 markets to generate 90 per cent of world trade growth with a similar degree of concentration in cross-border capital flows. * Of the world’s top 30 economies, we expect those in Asia-Pacific, Latin America, the Middle East and Africa to increase in size approximately four-fold by 2050, benefiting...
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...Ethics is a branch of philosophy that focuses on the moral, philosophical characteristics from formal, systematic and ethical principles. Moral judgments are calculated from ethical principles which need to be applied as a standard for everyday choices in life and business. This is directly related to the decisions human beings make. Cavico (2009) states utilitarianism is more than just moral philosophy. It is a way of reformation and used extensively in government decision making. This will be discussed further in the Bank of America-Merrill Lynch merger. Utilitarianism is considered a scientific system of ethics and not just a philosophical theory of ethics. Utilitarian ethics follows the belief of maximizing the greatest good for the largest number of people. As utilitarianism is identified, one needs to learn that the greatest good could be based on aggregate principle or a distributive principle. The Bank of America-Merrill Lynch merger will be assessed in regards to who, what and how the greater good will be affected in this merger. Within utilitarianism, a moral philosophy is developed that focuses on the consequences of specific actions. An action is done, then observed and then analyzed. After identifying all the people that were involved, one needs to ask the question, “Do the sum of good consequences outweigh the sum of the bad consequences?” Quantify all the good and bad consequences in the scenario and if the good consequences are greater than the bad consequences...
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...Conclusion In a nutshell, generation Y and financial services cannot be separated. It is because generation Y had become the largest customer for the banking industry in the present and the future. This is because Gen Y is the wealthiest generation now. As we know, Gen Y customers grow in tandem with the development of technology, from the era of mobile phones and gadgets, Internet-based communities and social networks. So, this trend makes Gen Y see technology as a key component of complete lifestyle including banking system. This generation tends to communicate with technology because their own character is far different from existing customers they want banks to provide different avenues and strategies to attract them to use the service. Gen Y prefer to financial advice more than the previous generation. Good quality services or technology will make them can get financial advisory services, no matter where they are and increase the merger process that requires decisions and transactions. Mobile phones are becoming increasingly sophisticated, more capable of handling and use of banking services. For banks that provide this solution as it will become a favourite among Gen Y customers Satisfaction is the one factor that influences generation Y to get related with financial services. Once they satisfied, they will immediately trust with organization. Therefore, one of the banks had produce new brand to make them full of satisfaction. Hong Leong Bank produce...
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...1.0 COMPANY BACKGROUND Bank Islam, established in 1983, is Malaysia’s maiden Shariah-based institution. Since its inception, it has emerged as the symbol of Islamic banking in Malaysia and its vision to be “A Global Leader in Islamic Banking” illustrates the Bank’s status as the flag bearer of the country’s financial services industry (“the industry”). Bank Islam has been growing from strength to strength as evidenced by its financial performance and paid-up capital, which in turn, was instrumental in making the growth of its assets. Throughout the year, Bank Islam has been embarking on a number of expansion programmes with its involvement in, among others, notable transaction in Sukuk and Corporate Mandates. Living up to its pioneering spirit, the Bank has continued to provide innovative and enhanced products and services which has resulted in a growing number of customers seeing Islamic banking as a true alternative to conventional banking. This growing list of clienteles in addition to truly ground breaking and quality banking solutions have been recognised by the global industry which is reflected by the Bank's position as one of the top banks in the country. From the traditional financing, savings and investment types of products exclusively for individual customers during the early years of establishment, the range of Bank Islam’s Shariah-based financial products, services and business solutions has significantly...
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...Case Analysis Bank of America Mobile Banking - College Essays - Yibin2000 Log In | Essays Book Notes Citation Generator More Sign Up Search 850 000 Essays Henkel Business Challenge Create a new product or technology for a sustainable world with Henkel www.henkelchallenge.com/studentgame Savings Account Experience Great Savings with Standard Chartered Savings Account standardchartered.co.in/Savings Equity Market Read Financial News Anytime Online On Economic Times™ Official Site! EconomicTimes.Indiatimes.com Essays » Computers & Internet Case Analysis: Bank of America: Mobile Banking By yibin2000, May 2012 | 5 Pages (1,202 Words) | 677 Views| Report | Sign Up to access full essay This is a Premium essay Case Analysis: Bank of America: Mobile Banking Company Overview: Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price. Customers: In 2009, 10 million customers used mobile banking and this is expected to grow to 37 million by 2014. Customers that use mobile banking are not the same as online customers...
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...examine Merrill Lynch, a U.S. based financial service institution that is the third largest mergers and acquisitions adviser behind Morgan Stanley and Goldman Sachs. The company serves clients in more than 150 countries worldwide. In this particular case study, we observe Merrill Lynch and its struggle to dominate the Japanese market. Being the first foreign firm to enter Japan’s private client investment market, Merrill Lynch was met with limited success. The company was met with many challenges trying to reside in Japan. A legal and cultural challenge that the company was faced with was Japan’s inability to regulate its economy. Therefore, Japan’s government made it difficult for the company to offer the wide variety of services offered in the United States and even more difficult were four competing stock brokerages that monopolized the Japanese market. These stock brokerages made it difficult for Merrill Lynch to appeal employee talent and customers away from them. Foreign exchange regulations also made it difficult to sell non-Japanese stocks, bonds, and mutual funds to investors. Ethically, Merrill Lynch was challenged to go against the Japanese government in fear of damaging future chances of conquering, or even reentering, the market. Ultimately, Merrill Lynch pulled out of the private client market in Japan and closed its six retail branches. Japan’s government also played a role in Merrill Lynch’s failure in the private client market because of it regulations and control...
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...The section of the reading that I also found interesting was Incentive Pay. The article I found further discusses this topic by weighing the benefits and drawbacks of incentives. What drew me to read this particular article was its title “Why Incentives are Irresistible, Effective and likely to Backfire” This article discusses that though incentives are irresistible to employees and are effective in increasing job performance, it sometimes has negative consequences. For example, the authors states in the article that “Ken O'Brien was an NFL quarterback in the 1980s and 1990s. Early in his career, he threw a lot of interceptions, so one clever team lawyer wrote a clause into O'Brien's contract penalizing him for each one he threw. The incentive worked as intended: His interceptions plummeted, but that's because he stopped throwing the ball.”(Heath & Heath 2009) Another example this article describes is Paul Stiles experience as a new trader at the venerable investment bank. “Merrill Lynch wanted Paul to trade complex international bonds in volatile markets. He tried asking advice of the seasoned traders, but they ignored him, a minute spent helping Stiles was a minute spent not adding to their monthly bonuses. It surely never dawned on the person who set up Merrill Lynch's incentive system that the traders bonuses would make training new employees impossible.” (Heath & Heath 2009). Prior to reading this article, it never occurred to me that incentive pay can have negative implications...
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...SUPPORT@ACTIVITYMODE.COM FIN 410 WK 2 ASSIGNMENT 1 FIN 410 WK 2 Assignment 1 - Financial Organization Analysis Use the Internet to research one (1) of the following financial institutions: J.P. Morgan, Bank of America, or Citigroup. Gather information about the overall nature of their business, products or services it sells, key financial data, and its mission and vision statements. Write a two to three (2-3) page paper in which you: 1. Describe the business of the organization that you have chosen, indicating the financial services provided by the institution. 2. Develop and apply a Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis of this organization. 3. Suggest ways that the institution could capitalize on its strengths and minimize its weakness. Provide support for your rationale. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the students of FIN 410 WK 2 Assignment 1 in order to ace their studies. FIN 410 WK 2 ASSIGNMENT 1 To purchase this visit here: http://www.activitymode.com/product/fin-410-wk-2-assignment-1/ Contact us at: SUPPORT@ACTIVITYMODE.COM FIN 410 WK 2 ASSIGNMENT 1 FIN 410 WK 2 Assignment 1 - Financial Organization Analysis Use the Internet to research one (1) of the following financial institutions: J.P. Morgan, Bank of America, or Citigroup. Gather information about the overall nature of their business, products or services it sells, key financial data, and its mission and...
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