Download from
http://www.bain.com/bainweb/PDFs/cms/Public/Management_Tools_2007_Executive_Guide.pdf
Wednesday, August 27, 2008
Hallmarks of Success for Financial Services
Hallmarks of Success for Financial Services by 2010
Deloitte Report
The worldwide market for financial services is evolving rapidly, and is likely to look very different by the year 2010. Deloitte study identifies major market drivers and operational challenges that financial institutions will likely face over the next four years and pin-points the strategies and practices recommended to create the ‘Hallmarks of Success’. The key drivers and challenges include:
Market Drivers
New asset classes: Changing the center of gravity
Ageing population: Turning silver into gold
Payments: P&L pain or pride
Emerging Markets: Opportunities, but no guarantees
Operating Challenges
Offshoring: Releasing the value
Internal control: A springboard to improved operating performance
The struggle for growth: Process and service innovation provide the keys to sustained performance and enhanced customer relationships
Mindset matters: Tax, accounting and financial reporting
Operating Challenges
Offshoring: Releasing the value
Internal control: A springboard to improved operating performance
The struggle for growth: Process and service innovation provide the keys to sustained performance and enhanced customer relationships
Mindset matters: Tax, accounting and financial reporting
To learn more download the full study below from Deloitte site.
http://www.deloitte.com/dtt/cda/doc/content/UK_DDR_Hallmarks%20of%20success.pdf
Deloitte Report
The worldwide market for financial services is evolving rapidly, and is likely to look very different by the year 2010. Deloitte study identifies major market drivers and operational challenges that financial institutions will likely face over the next four years and pin-points the strategies and practices recommended to create the ‘Hallmarks of Success’. The key drivers and challenges include:
Market Drivers
New asset classes: Changing the center of gravity
Ageing population: Turning silver into gold
Payments: P&L pain or pride
Emerging Markets: Opportunities, but no guarantees
Operating Challenges
Offshoring: Releasing the value
Internal control: A springboard to improved operating performance
The struggle for growth: Process and service innovation provide the keys to sustained performance and enhanced customer relationships
Mindset matters: Tax, accounting and financial reporting
Operating Challenges
Offshoring: Releasing the value
Internal control: A springboard to improved operating performance
The struggle for growth: Process and service innovation provide the keys to sustained performance and enhanced customer relationships
Mindset matters: Tax, accounting and financial reporting
To learn more download the full study below from Deloitte site.
http://www.deloitte.com/dtt/cda/doc/content/UK_DDR_Hallmarks%20of%20success.pdf
Strategies for building sustainable profits in wealth management
A Deloitte Report
Reconnecting for profit
Strategies for building sustainable profits in wealth management
The global private banking and wealth management market has enjoyed significant growth over recent years, riding a wave of high asset prices. With after-tax returns on equity averaging over 25 per cent in several major European markets, the sector remains the darling of a financial services industry in search of some good news amidst recent market turmoil. Despite the profitable performance, we ask in this report if wealth managers have used the growth period wisely. Have they sufficiently adapted their business models so that they can face the next five years confident of further growth?
"Reconnecting for Profit" summarises the results of a major qualitative study based on almost 50 in-depth discussions with private clients and leading wealth management executives. The report argues that forces are aligning that could test the resilience of wealth managers’ business models. In particular, our research suggests that as wealth managers have pushed forward with their growth strategies, a significant portion of the client base is disconnected from, and lacks trust in, wealth management institutions. The report highlights strategies for wealth managers to reconnect for profit and practical steps to aid transformation.
Download the report(2008) of Deloitte from
http://www.deloitte.com/dtt/cda/doc/content/UK_FS_Reconnectingforprofit.pdf
Reconnecting for profit
Strategies for building sustainable profits in wealth management
The global private banking and wealth management market has enjoyed significant growth over recent years, riding a wave of high asset prices. With after-tax returns on equity averaging over 25 per cent in several major European markets, the sector remains the darling of a financial services industry in search of some good news amidst recent market turmoil. Despite the profitable performance, we ask in this report if wealth managers have used the growth period wisely. Have they sufficiently adapted their business models so that they can face the next five years confident of further growth?
"Reconnecting for Profit" summarises the results of a major qualitative study based on almost 50 in-depth discussions with private clients and leading wealth management executives. The report argues that forces are aligning that could test the resilience of wealth managers’ business models. In particular, our research suggests that as wealth managers have pushed forward with their growth strategies, a significant portion of the client base is disconnected from, and lacks trust in, wealth management institutions. The report highlights strategies for wealth managers to reconnect for profit and practical steps to aid transformation.
Download the report(2008) of Deloitte from
http://www.deloitte.com/dtt/cda/doc/content/UK_FS_Reconnectingforprofit.pdf
IT system Cost Reduction - BMO Capital Markets
Enhanced Application Presentation
As BMO Capital Markets opens new offices in Asia, Manta expects the company to reduce administrative and maintenance costs by centralizing applications on servers in Canada rather than maintaining installations on multiple servers and desktops in China and Hong Kong. BMO Capital Markets began this centralization process by publishing applications over the Web using Windows Server 2003 Enterprise x64 Edition and Citrix Presentation Server™ from Microsoft Terminal Services Partner Citrix Systems. Going forward, the company is excited about the enhanced Terminal Services features of Windows Server 2008, including Terminal Services RemoteApp.
BMO Capital Markets is investigating how the company can use the new Terminal Services features to increase the ease and speed of expanding into international markets by eliminating the need to deploy new infrastructure.
"Just by eliminating the need for infrastructure," Manta says, "we can save about $150,000 in capital costs for every office that we open in Asia, and we've opened four so far. That's more than half a million dollars already. When you include the costs of facilities and ongoing support, the savings will keep adding up."
Increased Performance and Cost Savings
BMO Capital Markets is using 64-bit architecture to achieve additional savings by reducing hardware requirements. "We can add memory and linearly scale out as much as we need to, up to 350 users per server, which is more than double the previous capacity," says Manta. "That's an immediate cost benefit because the average cost of a physical server platform is about $10,000. Windows Server 2008 should reduce the number of servers we need, as well as the associated support costs, by at least 30 percent—a savings of hundreds of thousands of dollars right off the bat."
BMO Capital Markets also anticipates that the stability of Windows Server 2008 will reduce systems failures and disaster recovery time, which will reduce downtime. "From what we have tested in production labs, Windows Server 2008 is stable," says Manta. "We expected to see this in the latest version of Microsoft's flagship operating system, and our tests of the prerelease versions have confirmed it."
Windows Server 2008
Windows Server 2008, with built-in web and virtualization technologies, enables you to increase the reliability and flexibility of your server infrastructure. New virtualization tools, web resources, and security enhancements help you save time, reduce costs, and provide a platform for a dynamic and optimized datacenter. Powerful new tools like IIS 7.0, Server Manager, and Windows PowerShell™, allow you to have more control over your servers and streamline web, configuration, and management tasks. Advanced security and reliability enhancements like Network Access Protection and the Read-Only Domain Controller option for Active Directory® Domain Services harden the operating system and protect your server environment to ensure you have a solid foundation on which to build your business.
http://www.microsoft.com/canada/casestudies/bmocapitalmarkets.mspx
As BMO Capital Markets opens new offices in Asia, Manta expects the company to reduce administrative and maintenance costs by centralizing applications on servers in Canada rather than maintaining installations on multiple servers and desktops in China and Hong Kong. BMO Capital Markets began this centralization process by publishing applications over the Web using Windows Server 2003 Enterprise x64 Edition and Citrix Presentation Server™ from Microsoft Terminal Services Partner Citrix Systems. Going forward, the company is excited about the enhanced Terminal Services features of Windows Server 2008, including Terminal Services RemoteApp.
BMO Capital Markets is investigating how the company can use the new Terminal Services features to increase the ease and speed of expanding into international markets by eliminating the need to deploy new infrastructure.
"Just by eliminating the need for infrastructure," Manta says, "we can save about $150,000 in capital costs for every office that we open in Asia, and we've opened four so far. That's more than half a million dollars already. When you include the costs of facilities and ongoing support, the savings will keep adding up."
Increased Performance and Cost Savings
BMO Capital Markets is using 64-bit architecture to achieve additional savings by reducing hardware requirements. "We can add memory and linearly scale out as much as we need to, up to 350 users per server, which is more than double the previous capacity," says Manta. "That's an immediate cost benefit because the average cost of a physical server platform is about $10,000. Windows Server 2008 should reduce the number of servers we need, as well as the associated support costs, by at least 30 percent—a savings of hundreds of thousands of dollars right off the bat."
BMO Capital Markets also anticipates that the stability of Windows Server 2008 will reduce systems failures and disaster recovery time, which will reduce downtime. "From what we have tested in production labs, Windows Server 2008 is stable," says Manta. "We expected to see this in the latest version of Microsoft's flagship operating system, and our tests of the prerelease versions have confirmed it."
Windows Server 2008
Windows Server 2008, with built-in web and virtualization technologies, enables you to increase the reliability and flexibility of your server infrastructure. New virtualization tools, web resources, and security enhancements help you save time, reduce costs, and provide a platform for a dynamic and optimized datacenter. Powerful new tools like IIS 7.0, Server Manager, and Windows PowerShell™, allow you to have more control over your servers and streamline web, configuration, and management tasks. Advanced security and reliability enhancements like Network Access Protection and the Read-Only Domain Controller option for Active Directory® Domain Services harden the operating system and protect your server environment to ensure you have a solid foundation on which to build your business.
http://www.microsoft.com/canada/casestudies/bmocapitalmarkets.mspx
Articles on Cost Reduction and Cutting by Consultants
Boston Consulting Group
June, 2008
A Principled Look at Cost Cutting
Many financial institutions have made progress in trimming overhead costs. But achieving truly meaningful reductions, with no “creep-back” over time, remains a challenge for most. BCG has developed an innovative cost-cutting method that involves establishing specific principles — rules that set limits and goals regarding organization and performance — through which head count reductions can be accomplished. Up to 20 percent of total FTE costs can be cut within six months using this method, which is known as Principles-Based Cost Reduction (PBCR).
Download detailed article from
http://www.bcg.com/impact_expertise/publications/files/A_Principled_Look_at_Cost_Cutting_Jun_2008.pdf
January, 2008
Banking on Lean Advantage
Years ago, pioneers in other industries—notably the automotive industry—began seeing operations as a strategic asset to be leveraged, rather than a source of costs to be managed. They looked at operations holistically, rather than through a one-dimensional, cost-oriented lens. BCG has been using a similar approach, lean advantage, to help banks complement efficiency improvements—cost reductions as high as 30 percent—with impressive gains in customer satisfaction and loyalty, all while building internal capabilities to ensure continuous improvement.
Download detailed article from
http://www.bcg.com/impact_expertise/publications/files/Banking_Lean_Advantage_Jan_2008.pdf
Views of Accenture Consultant
“The industry does carry a lot of cost,” says Bob Gach, global managing director capital markets at Accenture in New York.
The concept of “sustainable cost reduction” takes a more holistic or systemic approach to cost reduction, according to Accenture’s spokesman. Instead of one department looking to reduce costs and another department working independently, all the departments work together as an enterprise to reduce costs. This makes the cost reduction more sustainable in the long run, says Accenture’s spokesman.
With this kind of approach, any large investment bank can take out $1 to $2 billion in costs, says Gach. “For the next tier down, the opportunity is $300 to $500 million,” says Gach.
What’s also inevitable is IT vendor consolidation, says Gach. With all the procurement deals on Wall Street, many firms are using dozens of vendors. Consolidating the number of relationships is part of the cost-reduction process, Gach suggests.
For more on the topic
http://www.advancedtrading.com/blog/archives/2008/04/time_to_end_wal.html
June, 2008
A Principled Look at Cost Cutting
Many financial institutions have made progress in trimming overhead costs. But achieving truly meaningful reductions, with no “creep-back” over time, remains a challenge for most. BCG has developed an innovative cost-cutting method that involves establishing specific principles — rules that set limits and goals regarding organization and performance — through which head count reductions can be accomplished. Up to 20 percent of total FTE costs can be cut within six months using this method, which is known as Principles-Based Cost Reduction (PBCR).
Download detailed article from
http://www.bcg.com/impact_expertise/publications/files/A_Principled_Look_at_Cost_Cutting_Jun_2008.pdf
January, 2008
Banking on Lean Advantage
Years ago, pioneers in other industries—notably the automotive industry—began seeing operations as a strategic asset to be leveraged, rather than a source of costs to be managed. They looked at operations holistically, rather than through a one-dimensional, cost-oriented lens. BCG has been using a similar approach, lean advantage, to help banks complement efficiency improvements—cost reductions as high as 30 percent—with impressive gains in customer satisfaction and loyalty, all while building internal capabilities to ensure continuous improvement.
Download detailed article from
http://www.bcg.com/impact_expertise/publications/files/Banking_Lean_Advantage_Jan_2008.pdf
Views of Accenture Consultant
“The industry does carry a lot of cost,” says Bob Gach, global managing director capital markets at Accenture in New York.
The concept of “sustainable cost reduction” takes a more holistic or systemic approach to cost reduction, according to Accenture’s spokesman. Instead of one department looking to reduce costs and another department working independently, all the departments work together as an enterprise to reduce costs. This makes the cost reduction more sustainable in the long run, says Accenture’s spokesman.
With this kind of approach, any large investment bank can take out $1 to $2 billion in costs, says Gach. “For the next tier down, the opportunity is $300 to $500 million,” says Gach.
What’s also inevitable is IT vendor consolidation, says Gach. With all the procurement deals on Wall Street, many firms are using dozens of vendors. Consolidating the number of relationships is part of the cost-reduction process, Gach suggests.
For more on the topic
http://www.advancedtrading.com/blog/archives/2008/04/time_to_end_wal.html
Zero Marginal Transaction Cost: Securities Trading
Zero Marginal Competitive Cost: Securities Trading
Z/Yen, a consultancy firm, regularly benchmarks investment bank costs, headcounts and volumes to produce costs per trade covering:
FX & Money Market - Global FX, Currency Options, Money Market;
Equity & Debt - European Equities, SBL, Bonds, Repo, Listed & OTC Derivatives;
US Securities - Equities, Stock Borrow Loan, Bonds, Repo, Options & Futures.
According to the cost versus volume curves for Global Foreign Exchange, Global Money Markets, European Processed Equities and European Processed Bonds for the period from 2000 to 2002 developed by the firm, volumes increased markedly while operations costs per transaction fell:
Some of this per trade cost reduction is due to increased volumes being handled at decreasing marginal cost, largely through automation. For instance, the largest equity traders handled around 10M trades per annum in 1999, in 2002 they were handling nearer 25M; for bonds 250,000 trades per annum was large in 1999, now (2002) larger operations process over seven times as much at 1.8M; for FX in 2000, 3M trades was large, now an investment bank would need around 5M to be in the top league. With the “per trade” figure as the denominator, volume matters in getting cost/trade down. The pressure increases for those unable to get to efficient levels of capacity or unable to scale the costs of processes in line with demand. However, larger volumes, poorly processed could well increase costs and investment banking operations are increasingly more professional, increasingly focused on reducing exception, improving controls and risk management.
Cost reduction affects all areas, i.e. operations, operations IT, middle office/product control and middle office IT. In case of FX, cost per trade was just over $11 in 2000, now under $8. The cost squeeze has been felt in all cost components,
Pundits have long forecast the need for investment banking operations & IT to improve their performance markedly. As cost per trade falls precipitously, one obvious question arises, “how far can this go”? Some operations seem to be able to handle increasing volumes with little additional headcount, hitting 55,000 trades per head. Other operations can have as few as 12,500 trades per head. Investments in IT seem to pay off in numbers of trades per operations head, concentrated in the 2001 to 2002 period. More returns on IT seem likely to arrive.
Z/Yen Limited is a risk/reward management firm helping organisations make better choices. Z/Yen undertakes strategy, finance, systems, marketing and intelligence projects in a wide variety of fields (www.zyen.com), such as developing an award-winning risk/reward prediction engine, helping a global charity win a good governance award or benchmarking transaction costs across global investment banks.
http://www.zyen.com/Knowledge/Articles/zero_marginal_competitive_cost.htm
Z/Yen, a consultancy firm, regularly benchmarks investment bank costs, headcounts and volumes to produce costs per trade covering:
FX & Money Market - Global FX, Currency Options, Money Market;
Equity & Debt - European Equities, SBL, Bonds, Repo, Listed & OTC Derivatives;
US Securities - Equities, Stock Borrow Loan, Bonds, Repo, Options & Futures.
According to the cost versus volume curves for Global Foreign Exchange, Global Money Markets, European Processed Equities and European Processed Bonds for the period from 2000 to 2002 developed by the firm, volumes increased markedly while operations costs per transaction fell:
Some of this per trade cost reduction is due to increased volumes being handled at decreasing marginal cost, largely through automation. For instance, the largest equity traders handled around 10M trades per annum in 1999, in 2002 they were handling nearer 25M; for bonds 250,000 trades per annum was large in 1999, now (2002) larger operations process over seven times as much at 1.8M; for FX in 2000, 3M trades was large, now an investment bank would need around 5M to be in the top league. With the “per trade” figure as the denominator, volume matters in getting cost/trade down. The pressure increases for those unable to get to efficient levels of capacity or unable to scale the costs of processes in line with demand. However, larger volumes, poorly processed could well increase costs and investment banking operations are increasingly more professional, increasingly focused on reducing exception, improving controls and risk management.
Cost reduction affects all areas, i.e. operations, operations IT, middle office/product control and middle office IT. In case of FX, cost per trade was just over $11 in 2000, now under $8. The cost squeeze has been felt in all cost components,
Pundits have long forecast the need for investment banking operations & IT to improve their performance markedly. As cost per trade falls precipitously, one obvious question arises, “how far can this go”? Some operations seem to be able to handle increasing volumes with little additional headcount, hitting 55,000 trades per head. Other operations can have as few as 12,500 trades per head. Investments in IT seem to pay off in numbers of trades per operations head, concentrated in the 2001 to 2002 period. More returns on IT seem likely to arrive.
Z/Yen Limited is a risk/reward management firm helping organisations make better choices. Z/Yen undertakes strategy, finance, systems, marketing and intelligence projects in a wide variety of fields (www.zyen.com), such as developing an award-winning risk/reward prediction engine, helping a global charity win a good governance award or benchmarking transaction costs across global investment banks.
http://www.zyen.com/Knowledge/Articles/zero_marginal_competitive_cost.htm
Financial Services Articles - Z/Yen
Very interesting articles on issues related to financial services companies
To download articles go to
http://www.zyen.com/Knowledge/Articles/Articles_Financial_Services.htm
Financial Services Articles
2008
Michael Mainelli, “The Religion Of Regulation: Too Big To Succeed”, Journal of Risk Finance, Volume 9, Number 4, Emerald Group Publishing Limited (August 2008).
Michael Mainelli, “Caseless Wonders: Finance Courses and Ethics” , Finance & The Common Good/Bien Commun, Number 30 – 1/2008, pages 81-90, Observatoire de la Finance (June 2008).
Michael Mainelli, “The Pond For Markets: Social And Local”, Journal of Risk Finance, Volume 9, Number 3, pages 303-305, Emerald Group Publishing Limited (May 2008).
Mark Yeandle, Alexander Knapp and Michael Mainelli, "The Global Financial Centres Index", The Handbook Of World Stock, Derivative & Commodity Exchanges, pages xxxv-xxxviii, Mondovisione (2008).
Michael Mainelli, “Liquidity = Diversity”, Journal of Risk Finance, Volume 9, Number 2, pages 211-216, Emerald Group Publishing Limited (March 2008).
Mark Yeandle, Michael Mainelli and Ian Harris, The Global Financial Centres Index - 3 , 80 pages, City of London Corporation (March 2008).
Michael Mainelli, “Dumb On Non-Dom”, Financial World, pages 12-13, IFS School of Finance (February 2008)
Michael Mainelli, “Derivative Processing Counts”, Journal of Risk Finance, The Michael Mainelli Column, Volume 9, Number 1, pages 92-95, Emerald Group Publishing Limited (January 2008).
Michael Mainelli, “Chapter 45: European Union – Regional Guidance”, Governance, Risk And Compliance Handbook, Anthony Tarantino (ed), pages 613-625, John Wiley & Sons (2008).
2007
Michael Mainelli and Jan-Peter Onstwedder (eds), The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Michael Mainelli and James Palmer, “A Portfolio Approach To Climate Change Investment And Policy”, The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Mark Yeandle, Mike Young and Ian Harris, "Warm Game: A Game For All Seasons", The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Michael Mainelli, "Guest Comment: The Dangers of Demonising Non-Doms", eFinancialCareers (10 December 2007).
Michael Mainelli, “The Rules Of Practical Principles”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 5, pages 508-510, Emerald Group Publishing Limited (October 2007).
Mark Yeandle, Michael Mainelli and Ian Harris, The Global Financial Centres Index - 2 , 78 pages, City of London Corporation (September 2007).
Michael Mainelli, “Chapter 10: Correlation Causes Questions: Environmental Consistency Confidence In Wholesale Financial Institutions”, Frontiers of Risk Management: Key Issues and Solutions, Dennis Cox (ed), pages 94-100, Euromoney Books (2007).
Michael Mainelli, “Market of Markets: The Global Financial Centres Index”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 3, pages 313-319, Emerald Group Publishing Limited (June 2007).
Michael Mainelli, “Start Spreading The News … London’s Calling”, Financial Services Review, pages 16-17, Association of Chartered Certified Accountants (May 2007).
Michael Mainelli, “Louis Bachelier’s Theory of Speculation” (Louis Bachelier’s Theory of Speculation: The Origins of Modern Finance translated and with commentary by Mark Davis and Alison Etheridge), London Mathematical Society Newsletter, Number 359, pages 21-22 (May 2007).
Michael Mainelli, “The London Accord: From Copenhagen Conundrum To Climate-Change Investment”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 2, pages 198-201, Emerald Group Publishing Limited (March 2007).
Michael Mainelli and Mark Yeandle, The Global Financial Centres Index - 1 , 68 pages, City of London Corporation (March 2007).
Michael Mainelli, "Cash In, Carbon Out?", Financial World, IFS School Of Finance (February 2007).
Michael Mainelli and Mark Yeandle, “The Best Execution: Trader or Client?” , Fund AIM, Volume 1, Number 1, pages 43-46, Investor Intelligence Partnership (January 2007).
2006
Michael Mainelli, "Place Your Bets” (Investor Relations At Online Gambling Firms), Real IR, page 12, Caspian Publishing Limited (November 2006).
Michael Mainelli, "More Of The Same? Reinforcing People's Success By Risking Statistics", Powerchex (September 2006).
Michael Mainelli and Joshua Ronen, “Put Your Money Where Your Audit Is: Financial Statement Insurance In The UK?”, Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 4, pages 446-450, Emerald Group Publishing Limited (August 2006).
Michael Mainelli and Mark Yeandle, “Best Execution Compliance: Towards An Equities Compliance Workstation”, Journal of Risk Finance, Volume 7, Number 3, pages 313-336, Emerald Group Publishing Limited (June 2006).
Michael Mainelli and Mark Yeandle, “Best Execution Compliance: New Techniques for Managing Compliance Risk”, Journal of Risk Finance, Volume 7, Number 3, pages 301-312, Emerald Group Publishing Limited (June 2006).
Michael Mainelli and Joshua Ronen, "Accounting: Progress May Lie In Insurance" (Put Your Money Where Your Audit Is: Financial Statements Insurance in the UK?) , Financial World, pages 38-39, Institute of Financial Services and Centre for the Study of Financial Innovation (May 2006).
Jeremy Smith "Evaluating Risk and Efficiency in Corporate Actions Processing at Major Investment Banks" , Financial Services Research, pages 46-49, Financial Services Research Limited (April 2006).
Mark Yeandle "Best Compliance Execution Automation" , Financial Services Research, pages 80-82, Financial Services Research Limited (April 2006).
Michael Mainelli, "Global Financial Centers: One, Two, Three ... Infinity?", Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 2, pages 219-227, Emerald Group Publishing Limited (March 2006).
Michael Mainelli, "The Copenhagen Conundrum - Doesn't Risk/Reward Analysis Matter?", Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 1, pages 101-104, Emerald Group Publishing Limited (January 2006).
2005
Michael Mainelli, "When Risk Pays Off" , Financial Services Review, Number 76, pages 8-9, Association of Chartered Certified Accountants (December 2005).
Mark Yeandle, Michael Mainelli and Adrian Berendt, The Competitive Position of London as a Global Financial Centre , 67 pages, Corporation of London, (November 2005).
Michael Mainelli, "Anti-anti-money Laundering: "Feed-back or "Fed-up"?", Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 4, pages 368-372, Emerald Group Publishing Limited (August 2005).
Mark Yeandle, Michael Mainelli, Adrian Berendt and Brian Healy Anti-Money Laundering Requirements: Costs Benefits and Perceptions , City Research Series, 71 pages, Corporation of London (June 2005).
Michael Mainelli, "Competitive Compliance: Manage and Automate, or Die", Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 3, pages 280-284, Emerald Group Publishing Limited (June 2005).
Michael Mainelli, "The (Mis)Behavior of Risk Managers: Recognizing Our Limitations" (implications of chaos and fractal criticisms), Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 2, pages 177-181, Emerald Group Publishing Limited (April 2005).
Michael Mainelli, “Preying on the Fear Factor" (paying for perceived non-executive risks), Accountancy Age, page 26, VNU Business Publications (17 February 2005).
Michael Mainelli, “Standard Differences: Differentiation through Standardisation?” (ISO9001, SAS70 and management systems), Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 1, pages 71-78, Emerald Group Publishing Limited (January 2005).
2004
Michael Mainelli and Sam Dibb, "Betting on the Future: Online Gambling Goes Mainstream Financial" , Centre for the Study of Financial Innovation, Number 68, 34 pages, ISBN: 0-9545208-5-8 (December 2004).
Michael Mainelli, "Personalities of Risk/Reward: Human Factors of Risk/Reward and Culture", Journal of Financial Regulation and Compliance, Volume 12, Number 4, pages 340-350, Henry Stewart Publications (November 2004).
Michael Mainelli, "All or Nothing: Product Control Goes Global or Local", Balance Sheet, The Michael Mainelli Column, Volume 12, Number 4, pages 42-44, Emerald Group Publishing Limited (2004).
Michael Mainelli, “Finance Looking Fine, Looking DAPR: The Importance of Dynamic Anomaly and Pattern Response”, Balance Sheet, The Michael Mainelli Column, Volume 12, Number 5, pages 56-59, Emerald Group Publishing Limited (October 2004).
Ian Harris, Sam Dibb and Michael Mainelli, “Bet Your Shirt: What's the Difference Between Insurance and Gambling” ( - 7Mb), AIRMIC News, page 7, The Association of Insurance and Risk Managers (October 2004).
Michael Mainelli and John Maitz, “Make Up for Lost Time” , (insurers and dynamic anomaly and pattern recognition), Global Insurance Bulletin, pages 18-20, Risk & Insurance Research Group (June 2004).
Jonathan Howitt, Michael Mainelli and Charles Taylor, “Marionettes, or Masters of the Universe? The Human Factor in Operational Risk” , Operational Risk (A Special Edition of The RMA Journal), pages 52-57, The Risk Management Association (May 2004).
Michael Mainelli, “Bracing for Zero Marginal Competitive Cost: Investment Banking Restructures”, Balance Sheet, The Michael Mainelli Column, Volume 12, Number 3, pages 48-51, Emerald Group Publishing Limited (May 2004).
Michael Mainelli, “Toward a Prime Metric: Operational Risk Measurement and Activity-Based Costing” , Operational Risk (A Special Edition of The RMA Journal), pages 34-40, The Risk Management Association (May 2004).
Michael Mainelli, "Ethical Volatility: How CSR Ratings and Returns Might be Changing the World of Risk", Balance Sheet, The Michael Mainelli Column, Volume 12, Number 1, pages 42-45, Emerald Group Publishing Limited (January 2004).
2003
Michael Mainelli, "All Too Visible Hands: Liquidity versus Transparency on Exchanges", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 4, pages 65-67, MCB University Press (November 2003).
Michael Mainelli, "Assessing Credit Rating Agencies: Quis Aestimat Ipsos Aestimatores?", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 3, pages 55-58, MCB University Press (August 2003).
Michael Mainelli, "PFI and PPP: Could They Result in Enron UK?", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 2, pages 39-43, MCB University Press (July 2003).
Michael Mainelli, "Risk/Reward in Virtual Financial Communities", Information Services & Use, Volume 23, Number 1, pages 9-17, IOS Press (2003).
Stephen Martin and Michael Mainelli, "Why Bother to Be Better? Strategically Stagnant Personal Current Accounts", Journal of Strategic Change, Volume 12, Number 4, pages 209-221, John Wiley & Sons (June-July 2003).
Michael Mainelli, Ian Harris and Alan Helmore-Simpson, "The Auditor's Cross Subsidy" (statistical modelling of audit prices), Strategic Planning Society E-Newsletter, Article 1 (June 2003). Also published as "Anti-dumping Measures & Inflation Accounting: Calculating the Non-Audit Subsidy", www.mondaq.com (19 June 2003).
Michael Mainelli, “Is Small Beautiful? Investment in Smaller Quoted Companies”, Balance Sheet, The Michael Mainelli Column, Volume 11, Number 1, pages 68-71, MCB University Press (March 2003).
Anthony Hene and Michael Mainelli, “Spend for Glory or Reserve Wastefully: Asymmetric Gain and Loss Recognition”, Charity Finance, pages 28-30 (February 2003).
2002
Fiona Buxton, Michael Mainelli, Robert Pay, Professor David Storey, Stephen Wells, "Institutional Investment and Trading in UK Smaller Quoted Companies" , The Quoted Companies Alliance, 54 pages, (October 2002).
Michael Mainelli, "Industrial Strengths: Operational Risk and Banks", Balance Sheet, Volume 10, Issue 3, MCB University Press (August 2002).
Michael Mainelli and Ian Harris, "Balancing the Odds: Stochastic Accounting", Balance Sheet, Volume 10, Number 2, pages 22-27, MCB University Press (2002).
2000
Jan-Peter Onstwedder and Michael Mainelli, "Enter the Specialists" (credit derivative market transformation), Risk Professional, Issue 2/10, pages 32-35, Informa Group plc (December 2000/January 2001).
Jeremy Smith and Ian Harris, "ASPs Bite at the Banks", Conspectus, page 29, Prime Marketing Publications (December 2000).
1999
Michael Mainelli, "Taking the Measure of Risk: Benchmarking Risk Management", Handbook of Risk Management, Issue 35, pages 5-8, Croner Publishing (10 December 1999).
Michael Mainelli, "Wither the FD? Hello Risk/Reward Director!", Handbook of Risk Management, Issue 30, pages 5-7, Kluwer Publishing (12 July 1999).
1997
Michael Mainelli and Martin Dooney, "Military Minds Train on Financial Targets", Investment & Pensions Europe, page 14 (March 1997).
1996
Michael Mainelli and Wyatt Ramsdale, "Strategic Implications of Resource Accounting", Executive Agency Overview, Issue 5, pages 17-19 (May 1996). Also reprinted in The Defence Yearbook 1997, pages 98-101, Public Sector Information Ltd.
Michael Mainelli, Ian Harris and David Highton, "Save it for a Rainy Day: Setting Charity Reserve Levels", NGO Finance, pages 62-65 (April 1996).
To download articles go to
http://www.zyen.com/Knowledge/Articles/Articles_Financial_Services.htm
Financial Services Articles
2008
Michael Mainelli, “The Religion Of Regulation: Too Big To Succeed”, Journal of Risk Finance, Volume 9, Number 4, Emerald Group Publishing Limited (August 2008).
Michael Mainelli, “Caseless Wonders: Finance Courses and Ethics” , Finance & The Common Good/Bien Commun, Number 30 – 1/2008, pages 81-90, Observatoire de la Finance (June 2008).
Michael Mainelli, “The Pond For Markets: Social And Local”, Journal of Risk Finance, Volume 9, Number 3, pages 303-305, Emerald Group Publishing Limited (May 2008).
Mark Yeandle, Alexander Knapp and Michael Mainelli, "The Global Financial Centres Index", The Handbook Of World Stock, Derivative & Commodity Exchanges, pages xxxv-xxxviii, Mondovisione (2008).
Michael Mainelli, “Liquidity = Diversity”, Journal of Risk Finance, Volume 9, Number 2, pages 211-216, Emerald Group Publishing Limited (March 2008).
Mark Yeandle, Michael Mainelli and Ian Harris, The Global Financial Centres Index - 3 , 80 pages, City of London Corporation (March 2008).
Michael Mainelli, “Dumb On Non-Dom”, Financial World, pages 12-13, IFS School of Finance (February 2008)
Michael Mainelli, “Derivative Processing Counts”, Journal of Risk Finance, The Michael Mainelli Column, Volume 9, Number 1, pages 92-95, Emerald Group Publishing Limited (January 2008).
Michael Mainelli, “Chapter 45: European Union – Regional Guidance”, Governance, Risk And Compliance Handbook, Anthony Tarantino (ed), pages 613-625, John Wiley & Sons (2008).
2007
Michael Mainelli and Jan-Peter Onstwedder (eds), The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Michael Mainelli and James Palmer, “A Portfolio Approach To Climate Change Investment And Policy”, The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Mark Yeandle, Mike Young and Ian Harris, "Warm Game: A Game For All Seasons", The London Accord: Making Investment Work For The Climate, City of London Corporation (2007).
Michael Mainelli, "Guest Comment: The Dangers of Demonising Non-Doms", eFinancialCareers (10 December 2007).
Michael Mainelli, “The Rules Of Practical Principles”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 5, pages 508-510, Emerald Group Publishing Limited (October 2007).
Mark Yeandle, Michael Mainelli and Ian Harris, The Global Financial Centres Index - 2 , 78 pages, City of London Corporation (September 2007).
Michael Mainelli, “Chapter 10: Correlation Causes Questions: Environmental Consistency Confidence In Wholesale Financial Institutions”, Frontiers of Risk Management: Key Issues and Solutions, Dennis Cox (ed), pages 94-100, Euromoney Books (2007).
Michael Mainelli, “Market of Markets: The Global Financial Centres Index”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 3, pages 313-319, Emerald Group Publishing Limited (June 2007).
Michael Mainelli, “Start Spreading The News … London’s Calling”, Financial Services Review, pages 16-17, Association of Chartered Certified Accountants (May 2007).
Michael Mainelli, “Louis Bachelier’s Theory of Speculation” (Louis Bachelier’s Theory of Speculation: The Origins of Modern Finance translated and with commentary by Mark Davis and Alison Etheridge), London Mathematical Society Newsletter, Number 359, pages 21-22 (May 2007).
Michael Mainelli, “The London Accord: From Copenhagen Conundrum To Climate-Change Investment”, Journal of Risk Finance, The Michael Mainelli Column, Volume 8, Number 2, pages 198-201, Emerald Group Publishing Limited (March 2007).
Michael Mainelli and Mark Yeandle, The Global Financial Centres Index - 1 , 68 pages, City of London Corporation (March 2007).
Michael Mainelli, "Cash In, Carbon Out?", Financial World, IFS School Of Finance (February 2007).
Michael Mainelli and Mark Yeandle, “The Best Execution: Trader or Client?” , Fund AIM, Volume 1, Number 1, pages 43-46, Investor Intelligence Partnership (January 2007).
2006
Michael Mainelli, "Place Your Bets” (Investor Relations At Online Gambling Firms), Real IR, page 12, Caspian Publishing Limited (November 2006).
Michael Mainelli, "More Of The Same? Reinforcing People's Success By Risking Statistics", Powerchex (September 2006).
Michael Mainelli and Joshua Ronen, “Put Your Money Where Your Audit Is: Financial Statement Insurance In The UK?”, Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 4, pages 446-450, Emerald Group Publishing Limited (August 2006).
Michael Mainelli and Mark Yeandle, “Best Execution Compliance: Towards An Equities Compliance Workstation”, Journal of Risk Finance, Volume 7, Number 3, pages 313-336, Emerald Group Publishing Limited (June 2006).
Michael Mainelli and Mark Yeandle, “Best Execution Compliance: New Techniques for Managing Compliance Risk”, Journal of Risk Finance, Volume 7, Number 3, pages 301-312, Emerald Group Publishing Limited (June 2006).
Michael Mainelli and Joshua Ronen, "Accounting: Progress May Lie In Insurance" (Put Your Money Where Your Audit Is: Financial Statements Insurance in the UK?) , Financial World, pages 38-39, Institute of Financial Services and Centre for the Study of Financial Innovation (May 2006).
Jeremy Smith "Evaluating Risk and Efficiency in Corporate Actions Processing at Major Investment Banks" , Financial Services Research, pages 46-49, Financial Services Research Limited (April 2006).
Mark Yeandle "Best Compliance Execution Automation" , Financial Services Research, pages 80-82, Financial Services Research Limited (April 2006).
Michael Mainelli, "Global Financial Centers: One, Two, Three ... Infinity?", Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 2, pages 219-227, Emerald Group Publishing Limited (March 2006).
Michael Mainelli, "The Copenhagen Conundrum - Doesn't Risk/Reward Analysis Matter?", Journal of Risk Finance, The Michael Mainelli Column, Volume 7, Number 1, pages 101-104, Emerald Group Publishing Limited (January 2006).
2005
Michael Mainelli, "When Risk Pays Off" , Financial Services Review, Number 76, pages 8-9, Association of Chartered Certified Accountants (December 2005).
Mark Yeandle, Michael Mainelli and Adrian Berendt, The Competitive Position of London as a Global Financial Centre , 67 pages, Corporation of London, (November 2005).
Michael Mainelli, "Anti-anti-money Laundering: "Feed-back or "Fed-up"?", Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 4, pages 368-372, Emerald Group Publishing Limited (August 2005).
Mark Yeandle, Michael Mainelli, Adrian Berendt and Brian Healy Anti-Money Laundering Requirements: Costs Benefits and Perceptions , City Research Series, 71 pages, Corporation of London (June 2005).
Michael Mainelli, "Competitive Compliance: Manage and Automate, or Die", Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 3, pages 280-284, Emerald Group Publishing Limited (June 2005).
Michael Mainelli, "The (Mis)Behavior of Risk Managers: Recognizing Our Limitations" (implications of chaos and fractal criticisms), Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 2, pages 177-181, Emerald Group Publishing Limited (April 2005).
Michael Mainelli, “Preying on the Fear Factor" (paying for perceived non-executive risks), Accountancy Age, page 26, VNU Business Publications (17 February 2005).
Michael Mainelli, “Standard Differences: Differentiation through Standardisation?” (ISO9001, SAS70 and management systems), Journal of Risk Finance, The Michael Mainelli Column, Volume 6, Number 1, pages 71-78, Emerald Group Publishing Limited (January 2005).
2004
Michael Mainelli and Sam Dibb, "Betting on the Future: Online Gambling Goes Mainstream Financial" , Centre for the Study of Financial Innovation, Number 68, 34 pages, ISBN: 0-9545208-5-8 (December 2004).
Michael Mainelli, "Personalities of Risk/Reward: Human Factors of Risk/Reward and Culture", Journal of Financial Regulation and Compliance, Volume 12, Number 4, pages 340-350, Henry Stewart Publications (November 2004).
Michael Mainelli, "All or Nothing: Product Control Goes Global or Local", Balance Sheet, The Michael Mainelli Column, Volume 12, Number 4, pages 42-44, Emerald Group Publishing Limited (2004).
Michael Mainelli, “Finance Looking Fine, Looking DAPR: The Importance of Dynamic Anomaly and Pattern Response”, Balance Sheet, The Michael Mainelli Column, Volume 12, Number 5, pages 56-59, Emerald Group Publishing Limited (October 2004).
Ian Harris, Sam Dibb and Michael Mainelli, “Bet Your Shirt: What's the Difference Between Insurance and Gambling” ( - 7Mb), AIRMIC News, page 7, The Association of Insurance and Risk Managers (October 2004).
Michael Mainelli and John Maitz, “Make Up for Lost Time” , (insurers and dynamic anomaly and pattern recognition), Global Insurance Bulletin, pages 18-20, Risk & Insurance Research Group (June 2004).
Jonathan Howitt, Michael Mainelli and Charles Taylor, “Marionettes, or Masters of the Universe? The Human Factor in Operational Risk” , Operational Risk (A Special Edition of The RMA Journal), pages 52-57, The Risk Management Association (May 2004).
Michael Mainelli, “Bracing for Zero Marginal Competitive Cost: Investment Banking Restructures”, Balance Sheet, The Michael Mainelli Column, Volume 12, Number 3, pages 48-51, Emerald Group Publishing Limited (May 2004).
Michael Mainelli, “Toward a Prime Metric: Operational Risk Measurement and Activity-Based Costing” , Operational Risk (A Special Edition of The RMA Journal), pages 34-40, The Risk Management Association (May 2004).
Michael Mainelli, "Ethical Volatility: How CSR Ratings and Returns Might be Changing the World of Risk", Balance Sheet, The Michael Mainelli Column, Volume 12, Number 1, pages 42-45, Emerald Group Publishing Limited (January 2004).
2003
Michael Mainelli, "All Too Visible Hands: Liquidity versus Transparency on Exchanges", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 4, pages 65-67, MCB University Press (November 2003).
Michael Mainelli, "Assessing Credit Rating Agencies: Quis Aestimat Ipsos Aestimatores?", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 3, pages 55-58, MCB University Press (August 2003).
Michael Mainelli, "PFI and PPP: Could They Result in Enron UK?", Balance Sheet, The Michael Mainelli Column, Volume 11, Number 2, pages 39-43, MCB University Press (July 2003).
Michael Mainelli, "Risk/Reward in Virtual Financial Communities", Information Services & Use, Volume 23, Number 1, pages 9-17, IOS Press (2003).
Stephen Martin and Michael Mainelli, "Why Bother to Be Better? Strategically Stagnant Personal Current Accounts", Journal of Strategic Change, Volume 12, Number 4, pages 209-221, John Wiley & Sons (June-July 2003).
Michael Mainelli, Ian Harris and Alan Helmore-Simpson, "The Auditor's Cross Subsidy" (statistical modelling of audit prices), Strategic Planning Society E-Newsletter, Article 1 (June 2003). Also published as "Anti-dumping Measures & Inflation Accounting: Calculating the Non-Audit Subsidy", www.mondaq.com (19 June 2003).
Michael Mainelli, “Is Small Beautiful? Investment in Smaller Quoted Companies”, Balance Sheet, The Michael Mainelli Column, Volume 11, Number 1, pages 68-71, MCB University Press (March 2003).
Anthony Hene and Michael Mainelli, “Spend for Glory or Reserve Wastefully: Asymmetric Gain and Loss Recognition”, Charity Finance, pages 28-30 (February 2003).
2002
Fiona Buxton, Michael Mainelli, Robert Pay, Professor David Storey, Stephen Wells, "Institutional Investment and Trading in UK Smaller Quoted Companies" , The Quoted Companies Alliance, 54 pages, (October 2002).
Michael Mainelli, "Industrial Strengths: Operational Risk and Banks", Balance Sheet, Volume 10, Issue 3, MCB University Press (August 2002).
Michael Mainelli and Ian Harris, "Balancing the Odds: Stochastic Accounting", Balance Sheet, Volume 10, Number 2, pages 22-27, MCB University Press (2002).
2000
Jan-Peter Onstwedder and Michael Mainelli, "Enter the Specialists" (credit derivative market transformation), Risk Professional, Issue 2/10, pages 32-35, Informa Group plc (December 2000/January 2001).
Jeremy Smith and Ian Harris, "ASPs Bite at the Banks", Conspectus, page 29, Prime Marketing Publications (December 2000).
1999
Michael Mainelli, "Taking the Measure of Risk: Benchmarking Risk Management", Handbook of Risk Management, Issue 35, pages 5-8, Croner Publishing (10 December 1999).
Michael Mainelli, "Wither the FD? Hello Risk/Reward Director!", Handbook of Risk Management, Issue 30, pages 5-7, Kluwer Publishing (12 July 1999).
1997
Michael Mainelli and Martin Dooney, "Military Minds Train on Financial Targets", Investment & Pensions Europe, page 14 (March 1997).
1996
Michael Mainelli and Wyatt Ramsdale, "Strategic Implications of Resource Accounting", Executive Agency Overview, Issue 5, pages 17-19 (May 1996). Also reprinted in The Defence Yearbook 1997, pages 98-101, Public Sector Information Ltd.
Michael Mainelli, Ian Harris and David Highton, "Save it for a Rainy Day: Setting Charity Reserve Levels", NGO Finance, pages 62-65 (April 1996).
Subscribe to:
Posts (Atom)
