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Driving strategic change in financial services

Edited by Bernard Taylor and Ian Morison

Technology. Deregulation. Privatisation. Globalisation. No financial service business is immune to these forces, as they feed on each other in a whirlwind of change. These changes will require a revolution in the way all organizations are managed, demanding:

New competitive strategies
Alliances and mergers
Business intelligence
Risk management
Quick responses

Driving strategic change in financial services outlines the important trends and political decisions which have transformed the financial services industry. It examines how organizations are responding to the new industry models by implementing new strategies, new structures and new management systems. Five senior executives describe how they have each helped to create and implement a practical vision for their organizations.

ISBN 1 85573 431 1
ISBN-13: 978 1 85573 431 9
May 1999
224 pages  234 x 156mm  paperback  
£55.00 / US$95.00 / €65.00

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About the editors

Bernard Taylor is Emeritus Professor of Strategic Management and Executive Director if the Centre for Board Effectiveness at Henley Management College.

Ian Morison is Professor of Banking and Finance at Loughborough University.

Titles which may also be of interest:
Achieving transformation and renewal in financial services
Developing people and the corporate culture in financial services
Competitor analysis in financial services

Contents

PART 1 THE DRIVING FORCES FOR CHANGE
PART 2 STRATEGIC LEADERSHIP

PART 1 THE DRIVING FORCES FOR CHANGE

The Darwinian shake-out in financial services
Bernard Taylor
 - The driving forces for change
 - Supercompetition
 - The struggle for survival
 - The shakeout winners and losers
 - Organising for growth and innovation

Deregulation and re-regulation
Ian Morison
 - The reason for regulation
 - The reason for deregulation
 - The nature of deregulation
 - The reasons for re-regulation
 - The nature of re-regulation

Changing needs and expectations
Ian Morison
 - The traditional role of financial institutions
 - The assets of financial institutions
 - Changing patterns of demand
 - Changing societal expectations

The impact of technology and globalization
Ian Morison
 - The underlying technologies
 - Information technology in the financial sector
 - The impact of IT on financial services
 - Globalization: causes and consequences

Competition and performance
Ian Morison
 - Structural and behavioural features
 - The current state of competition
 - The interaction of demand and supply
 - Competition and performance

Strategy and structure
Ian Morison
 - Evolution of strategic awareness
 - The sources of sustainable competitive advantage
 - The challenge of organizational design
 - Four key issues of organizational policy

PART 2 STRATEGIC LEADERSHIP

Reorganizing and re-engineering a building society
Peter White; Group Chief Executive; Alliance & Leicester
 - Building societies
 - The Alliance & Leicester
 - Strategic Review
 - Project Proteus
 - The results
 - Group Chief Executive's role
 - The future
 - From Proteus to Enterprise

Managing the portfolio of a global financial services organization
Derek Wanless; Group Chief Executive, NatWest
 - The new executive team
 - The group vision
 - Measuring stakeholder perceptions - the Balance Business Scorecard
 - Managing the challenges and tensions of a diverse portfolio
 - The role of the corporate centre
 - Managing group risk under different scenarios
 - The future for NatWest - new ventures and new challenges

Implementing new distribution strategies
David J Cavell; formerly Co-operative Bank
 - Breaking the mould in banking
 - The future network: 'fighting fit and fit to fight'
 - The development of self-service banking
 - Multimedia: 'To boldly sell where no banker has sold before'
 - The portable bank: a bank wherever and whenever you want it
 - Customer and staff satisfaction
 - The future

Corporate development for an international bank
Markus Sulzberger; Head of Group Planning and Control, UBS and Patrick Volkart; Group Planning, UBS
 - A new structure
 - Banking in the 1990s: the environment
 - Corporate development
 - Managerial processes and tools

Managing public affairs in the life insurance industry
Tony Baker; Deputy Director General, Association of British Insurers
 - Financial services - the products
 - Market drivers
 - Impact of the life insurance industry
 - The industry's response
 - Criteria for future success