The Future of Global Financial Services

by Grosse, Robert E.

• ISBN13: 9781405117012
• ISBN10: 140511701X
• Edition: 1st
• Format: Hardcover
• Copyright: 2004-07-23
• Publisher: Wiley-Blackwell

Summary

This book explores the future of the financial services industry, giving readers an idea of the kinds of institutions and services that will survive in the early twenty-first century. An informative and provocative exploration of the future of the financial services industry. Focuses on likely changes in the near future, such as greater use of the Internet for banking transactions and the increasing globalization of financial services. Points to the probable disappearance of the insurance sector as a separate industry. Describes changing conditions in key financial centres, especially the US, the UK, Germany, Japan and Switzerland.

Author Biography

Robert Grosse is Professor of International Business and Director of Research at Thunderbird, The American Graduate School of International Management in Arizona. He has more than 20 years experience of teaching international finance, international banking, finance in emerging markets, and other finance and global strategy seminars. He has also worked as a consultant to American Express, Banco de Costa Rica, Banco de Credito e Inversiones (Chile), Banco Ganadero (Colombia), Citibank, Chase Manhattan Bank, Manufacturers Hanover Bank, and Merrill Lynch.

Table of Contents

Annotated List of Contents	vii
Preface	xiv
Acknowledgments	xvii
Part I The Environment	1	(70)
1 Introduction	3	(12)
2 The globalization of financial services	15	(20)
3 The virtualization of financial services	35	(20)
4 Government regulation: the second key factor underlying industry structure	55	(16)
Part II Competitive Strategies	71	(66)
5 The financial landscape: organizations and allfinanz banking (the status quo)	73	(14)
6 Competitive strategies of international financial institutions	87	(18)
7 Competitiveness of banks from key countries (or, Why are the US banks ahead?)	105	(20)
8 Responding to the challenge of the new economy	125	(12)
Part III Where the Sector is Heading	137	(68)
9 Why insurance won't survive	139	(14)
10 Investment banking at the crossroads	153	(14)
11 Financial instruments and financial structures	167	(12)
12 The generation of long-term investment to support bond and stock-market growth	179	(12)
13 International financial centers	191	(10)
14 Surviving the twenty-first century	201	(4)
Index	205