Key conclusions

The reports make it clear that the market for retail banking services in the region is in need of more financial institutions to engage local populations, thus providing a means for people to move into the formal economy. As the market develops and larger regional and supranational institutions enter and expand across sub-Saharan Africa armed with lower operating costs, the viability of existing organisations’ business model rests squarely on a brand identity that offers a clear value proposition to customers. Product development and positioning and consumer price-to-cost ratio are also key to viability. Sustainability will depend on a continuous process of successfully combining top-line growth with bottom-line control. Growth is likely to be multi-dimensional, originating from three key sources: new product growth, new customer growth, and organic growth.

Contents

Indicative country volume contents

Executive Summary
Maris Strategy’s market perspective
Economic indicators
Strategic recommendations

1.    Introduction

2.    Methodology
2.1.    Living Standard Measures
2.2.    Linking socio-demographic profiles with competitive data on banking products and services

3.    Country Economic Analysis
3.1.    Key elements driving the banking sector
3.2.    Legal and regulatory framework
3.3.    Banking infrastructure statistics
3.4.    Demographic trends and customer behaviours with LSM analysis

4.    Competitive Analysis
4.1.    Analysis of product and services offerings
4.2.    Other market developments

5.    Value Proposition Analysis
5.1.    Setting strategic targets with value disciplines
5.2.    Mapping key players’ value propositions in the market

6.    Market and Segmentation Analysis
6.1    Segmentation variables
6.1.1. Demographic segmentation
6.1.2    Psychographic segmentation
6.1.3    Geographic segmentation
6.1.4    Product–benefit segmentation
6.1.5    Application of demographics
6.2.    Demographics combined with competitive data analysis
6.2.1    Banking market structure
6.2.1    Banking market strategy
6.3.    Products and market segmentation analysis

Tables and Figures
Table 3.1    LSM definitions
Table 3.2    Overall LSM analysis
Table 3.3    Deposits
Table 3.3    Lending
Table 3.4    Investments
Table 3.5    Insurance
Table 3.6    Preferred methods of payments
Table 3.6    Financial intermediaries
Table 4.1    Key players offerings overview
Table 4.2    Overview of competitor financials and key market segments
Table 5.1    Value proposition variables
Table 5.2    Perspective on value proposition
Table 6.1    Market segments
Table 6.2    Market share opportunities in country’s market segments
Table 6.3    Country’s direct banking channels
Table 6.4    Microfinance and microcredit products for the self-employed in unregistered businesses

Figure 3.1    Reasons for not having bank account
Figure 3.2    Socio-economic pyramid (population aged 16+)
Figure 4.1    Key player analysis by market share
Figure 4.2    Key player analysis by asset size
Figure 4.3    Key players market positions
Figure 6.1    Banked status of population (aged over 16)

Methodology

The key methodology employed is a combination of analyses of socio-demographic profiles in the country and examination of current banking products and services being offered to the customers. This approach is effective not only in identifying opportunities for offering new products and services, but also in providing critical information for measuring the performance of existing product offerings and fine-tuning the direction of existing strategic plans.

Maris Strategies consulted various primary sources to build a platform for extensive analyses. Demographic data has been acquired from four main sources: national statistical agencies, the World Bank, FinsScope (a comprehensive national household survey focused on financial services needs and usage facilitated by the FinMark Trust) and the Drumbeat Project, a pan-African Living Standard Measures (LSM) and profile database provided by Tendai Mhizha, University of Derby.
Living Standard (or Life Style) Measures have been used as a critical tool to understanding the patterns of customer behaviour and identify market segments that provide an opportunity. This approach also enables banking operators in the country to understand the size and composition of each market segment, and the nature of the banking relationships.

To help financial services providers operating (or planning to operate) in the region to identify the customers with the highest potential for their product and service offerings, Maris Strategies has analysed demographic data from various sources and identified groups of customers sharing the same or similar value criteria when choosing products and services. The key goal is to identify market segments that provide an opportunity for a financial institution to outperform the competition and quickly achieve its operative objectives.

A four-step process has been used to generate a projection for the potential target accounts available in the market and to estimate the number of accounts winnable given a value proposition on par with competitors.
Macro-economic data is analysed to provide a picture of potential growth. World Bank and IMF forecasts indicate that these regional economies will continue to grow at a vigorous rate and that there is huge growth capacity for financial services organisations in the region.

In order to assess target markets and identify opportunities in those markets, competitive analysis  examines competitors in order to evaluate their strengths and weaknesses in each market in order to identify opportunities to provide the same service with better delivery or link a target service to a complementary product offering.

Value proposition analysis is perfomed on a framework of three key elements of competitive advantage: Operational Excellence; Customer Intimacy; and Product Leadership in order to help institutions to choose their strategic focus.

Author

Maris Strategies Ltd

Founded by Joe DiVanna in the United States in 1998, with a UK-based operation since 2000, Maris Strategies is a research think-tank for financial services, government agencies, multinational corporations and technology providers. As a research and advisory group, our unique value proposition is based on five key concepts:

•    Measurable action-based business strategies
•    The applied use of technology to create value
•    Methodologies to produce break-through thinking
•    Finding unique solutions to global organizational challenges
•    Generating ideas in our idea factory

Description

But this is not just another book about the financial crisis.  This book is about the outcome. It tracks the markets from the day that Lehman Brothers collapsed, and before with Northern Rock, through the reactions of policymakers, politicians, regulators and markets.  It shows where the weaknesses were in hindsight, and where the pitfalls may be in foresight.  It tries to give the reader a chance to absorb and understand the key movements that created the crisis, and the explanation of why banks, bonuses and bosses are still at the trough feeding and greeding their way through the issues faced.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1         Anatomy of the crisis

Chapter 2        Governments in action

Chapter 3        Regulators’ reaction

Chapter 4        Banks’ inaction?

Chapter 5        Too big to fail?

Chapter 6        The bonus issue

Chapter 7        Solutions to the crisis – a personal view

 

Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia

Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Description

The future is uncertain.  However, if you could identify the most critical things likely to occur in the future today, then you could capitalise commercially upon the opportunities presented.  So that’s what this book is all about: what are the most critical things that will occur in banking tomorrow that, if you invest in them today, mean that you can make your fortune. A simple enough premise, and one that I hold to be very true. So, if you want to work out how to the most successful bank you can be during the next decade, then this is the book for you.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1          Facing the future: bank strategy in uncertain times

Chapter 2        The new economics of banking

Chapter 3          Banking technology

Chapter 4        The great channel debate

Chapter 5          The mobile future of banking

Chapter 6          Changing customer relationships

Chapter 7          Marketing in the new media age

Chapter 8        Long-term thinking

 

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Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia

Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Description

Most banks are anti-social. They don’t engage with customers to ‘delight’ or ‘exceed their expectations’, mainly because customers don’t expect anything different. That doesn’t mean it cannot change. The social media revolution is rapidly turning this planet on its head. So, if you want to work out how to be a social bank and connect with your targeted communities of customers, this is a short guide as to how to do it.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1          The future of banking is social

Chapter 2          Social media’s challenges

Chapter 3          Twitter, Facebook and other social networks

Chapter 4          Social finance

Chapter 5          Social money and virtual worlds

Chapter 6          Social media in practice

 

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Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia

Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Description

Retail Banking Strategies: the Critical Dimensions for Excellence identifies and analyses management excellence in key dimensions such as:

Business models: Is there one best business model?  Which ones have outperformed others? And why?  Is a pure retail bank a viable model?  If not, why not? How does the retail function interact with other units in the successful banks? How do the successful banks – especially those in diversified models – ensure that customer relationships are effectively managed? What is the culture of a successful retail model? How have once-successful retail models lost their effectiveness?

Product range. Priorities, range, evolution, breadth, profitability, pricing and other central elements.

Client base: With the enhanced importance of the customer post the financial crisis, four key dimensions of the customer base are examined: how the bank prioritises the segments of this base; views on their clients’ needs and behaviour; how performance in serving the client is measured; and the impact of new bank regulation, introduced since the crisis, largely to protect the customer.

Geographic scope: How the ‘back to basics’ theme from the banking crisis is echoed in the geographic scope of bank retail strategies.  

Retail distribution channels: How the four dimensions of channel management are reflected in bank strategies: the theoretical role of the branch and other channels; the challenge of integrating the channels; trends in channel management; and unresolved issues for the future.

Retail leadership and culture:  Is there a unique culture or leadership style in successful retail banks? How might it differ from other businesses?  What can we learn from the management style and culture of the case studies of excellence?  

Cost base and bank operating systems: What factors drive the wide difference in perceived bank cost/income ratios?  What is the relative importance of a bank’s core system in contrast to other factors, such as discipline in cost management?  How are banks attempting to reduce their cost base, and what might be the likely outcome?  What are the systems issues facing a bank’s management, and how might they be resolved?

Risk management and regulation: How bank decision-making structures have been impacted; and the future outlook; and how effectively bank management might deal with risk in the future.

The impact of the banking crisis on retail bank profitability: The drivers of future profitability; and the likely outcomes in terms of bottom line returns on equity.

Key findings

Key findings summary
•    A pure retail bank is unlikely to be viable because of lack of synergies with other businesses such as SMEs and wealth management.

•    A clear articulation of a retail bank’s culture and strategy as well as an understanding of the customer’s needs is vital. The product dimension is not as critical. The product focus is on cross-selling more products to the existing client base.

•    Management’s central focus must therefore be on the existing customer relationship. However, many banks lack an understanding of the needs and behaviour of individual clients. Best practice in the sector involves having a single customer view incorporating all services used by the client, but only a handful of leading banks have the systems capable of providing this view. It is widely assumed that a large proportion – if not the majority – of individual client relationships are unprofitable. Major efforts are being made to match customer needs with the preferred distribution channel.

•    In the geographic dimension, as a result of the crisis many retail banks are retreating to their core markets where they have a significant market share. On the other hand, leading banks in dynamic emerging markets such as India and Brazil are positioned to expand in their region.

•    The branch system is widely viewed as the key element of attracting and serving clients who demand advice, while direct channels are increasingly used to execute transactions. Achieving a seamless interface among channels is a challenge for many large and complex banks. Upgrading branch staff to provide advice and ‘customer experience’ is also a priority.

•    Leadership in retail banking is similar to that of other businesses, but successful retail leadership must identify with staff and clients as a ‘banker in retail’ and be totally focused on the business. The most successful retail banks are those with decades of management continuity.

•    While the critical metric of the cost/income ratio varies widely across the sector, it is extraordinarily difficult to evaluate the relative importance of such drivers as differential product profitability, efficiency of IT systems, successful people management, and credit problems in the loan portfolio, Yet it is clear that retail leaders in developed markets tend to have a cost/income ratio in the low 40s against one in the low 60s for less profitable entities.

•    A major impact of the banking crisis has been the increased cost of consumer protection mandated by the regulatory authorities. As this cost may have a disproportionate impact on the smaller, less profitable clients, such re-regulation may have the unintended consequence of banks giving priority to larger, more profitable relationships.

•    In terms of profitability, the immediate impact of the crisis has been to reduce typical retail ROE metrics from perhaps 20% or more toward the banks’ estimated cost of equity of perhaps 9–10%. There is an assumption, however, that a combination of re-pricing, improved asset quality, the disappearance of many non-bank competitors, and expanding the product line can raise ROE to perhaps 14–15% for the most successful institutions.

•    Future retail strategies will focus on deposit-gathering, cross-selling to existing clients rather than new client acquisition, and developing systems which enable management to track customer needs and relative profitability.

Research participants

Autonomous Research LLP
Barclays Capital
Bankinter
BlackRock Investment Management
Boston Consulting Group
Corporate Executive Board
Financial Institutions Consulting
Financial Services Authority
Fitch Ratings
HSBC
Keefe, Bruyette and Woods
Lloyds Banking Group
McKinsey & Co.
PricewaterhouseCoopers  LLP
Sandler O’Neill & Partners LP
The Toronto-Dominion Bank
UniCredit Group
Wells Fargo Bank

Contents

Preface
Executive summary
Chapter 1:  Introduction
The boundaries of retail banking
The banking crisis of 2007–09
Methodology
Report structure
Research participants
Institutions
Individuals

Chapter 2: The generic impact of the crisis on retail banking
The shift in retail strategy from lending to deposit gathering
The benefits of a strategic shift away from investment banking and trading
The massive hole in retail income from the loss of revenues from lending
Recourse to non-lending products such as asset management and insurance
The uncertain ultimate impact of the banking crisis on retail banking

Chapter 3: Business models in retail banking
General comments
The choice of model  
Achieving synergies in a diversified business model

Chapter 4: The product range
Priorities
Non-traditional products
Range of products
Evolution of the product range
Product pricing and profitability

Chapter 5:  The retail customer
Client segmentation and prioritisation
Insight into customer preferences and needs
Performance management
The impact of regulatory measures to protect consumers

Chapter 6: Geographic scope

Chapter 7: Retail distribution channels
The theoretical role of the different distribution channel
The challenge of channel integration
Trends in channel usage
Unresolved challenges
Viewpoint: Conflicting positions over customer service

Chapter 8: Retail leadership and culture

Chapter 9:  Costs and bank systems
The key drivers of cost/income differentials
Current issues in cost and systems management
The outlook for cost reduction

Chapter 10: Risk management and regulation
The impact on decision-making structures
Outlook for the future

Chapter 11: The outlook for retail bank profitability
Drivers of future profitability
The likely outcome for retail bank returns
Summary

Chapter 12: Case studies of retail banking success
Introduction
Wells Fargo
Business profile
Retail banking strategy
Evaluation of retail strategy
Banco Santander
Business model
Retail banking strategy
Evaluation of retail strategy
Itau Unibanco
Business profile
Retail banking strategy
Evaluation of retail strategy
Standard Chartered
Business profile
Retail banking strategy
Evaluation of retail strategy
Svenska Handelsbanken
Business strategy
Retail banking strategy
Evaluation of retail strategy
The Toronto-Dominion Bank
Business model
Retail banking strategy
Evaluation of retail strategy
HSBC
Business profile
Retail banking strategy
Evaluation of retail strategy
Bankinter
Business profile
Retail banking strategy
Evaluation of retail strategy
Lloyds Banking Group
Business profile
Retail banking strategy
Evaluation of retail strategy

Chapter 13: The outlook for retail banking
What will change and what will not
The key variables underpinning the forecasts

Chapter 14:  Conclusions
Business model
Product
The client
Geography
Distribution channels
Leadership and culture
Costs and systems
Risk management and regulation
The outlook for retail profitability
The case studies of retail success
The outlook as seen by our interviewees

List of Figures

Figure 1.1: Possible client segments in retail banking
Figure 11.1: Potential profitability improvement in retail banking after the crisis
Figure 12.1: Wells Fargo’s approach to excellence in execution
Figure 12.2: Breakdown of Santander’s geographic and line of business segments
Figure 12.3: Development of Toronto-Dominion’s US business
Figure 12.4: HSBC’s personal financial services global network
Figure 12.5: Bankinter’s segmentation strategy

Author

Steven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.

Description

What works – and what doesn’t – in one of the most important and hotly debated aspects of the future of the financial system

A new and unique insider view of what actually works, what ought to work, what prevents it from working, and what needs to be done about it – industry experts who have to implement and work within regulatory systems give the real best practice picture

“… Required reading for anyone with a stake in strengthening the financial system – which is pretty much all of us."
Robert P. Kelly, Chairman and CEO, BNY Mellon

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The recent financial crisis has unleashed a flood of views on what happened, why it happened, and what new regulatory measures and structures might prevent or mitigate such crises in the future. Effective Bank Regulation and Supervision: Lessons from the Financial Crisis takes a different approach.  Based on in-depth interviews with more than 30 senior, experienced bankers, regulators and supervisors, academics, management consultants, ratings agencies and securities analysts, all deeply involved in the regulatory process, it seeks to answer two key questions:

Which bank regulators around the world have demonstrated relatively superior results in terms of regulatory outcomes? and

What lessons for the future can be drawn from their experience?

The result is a ground-breaking insight into the likely future success of bank regulation and the key factors which will determine such outcomes.

The role of regulation or supervision in the future stability of the global banking system has never been more important than now, and never has the conduct of banks and their regulators been under closer scrutiny. How can regulation work without effective supervision? And what about the virtues of principles-based, as opposed to rules-based regulation? Among the hundreds of bank regulators around the world are examples of what works and what doesn’t as the ‘new normal’ in bank regulation is introduced. By gathering as much evidence as possible of best regulatory practice under fire during the recent financial crisis, Effective Bank Regulation and Supervision: Lessons from the Financial Crisis provides some thoughtful insights and positive lessons for regulators and those responsible for the regulatory function – and to lay out clearly the conclusions from their collective experience.

 

Research participants include:
Institutions
APRA
Banca de Espana
Banca de Espana
Banca d’Italia
BNY Mellon
BaFin
Bankinter
Banque de France/Commission Bancaire
Boston Consulting Group
CBFA
Citibank
Deutsche Bank
Fitch Ratings
Financial Services Authority (UK)
Financial Supervisory Authority of Norway
HSBC
Lloyds Banking Group
Oliver Wyman
McKinsey & Co
OSFI
Office of the Comptroller of the Currency
Promontory Financial Group
Sandler O’Neill
State Street Bank
Swedbank

Individuals
Claudio Borio
Clive Briault
Professor James Barth
Larry Fish
Edward Ladd
Professor David Llewellyn

 

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Reviews

Praise for Effective Bank Regulation and Supervision: Lessons from the Financial Crisis
“… Required reading for anyone with a stake in strengthening the financial system – which is pretty much all of us."
Robert P. Kelly, Chairman and CEO, BNY Mellon

“Steve Davis has always been innovative in looking at the banking industry, and in writing about its challenges and opportunities.  Highlighting the various regulators’ roles, both in their benefits and shortcomings, will usefully inform the debate on the future shape of the industry.”
Sir Win Bischoff, Chairman, Lloyds Banking Group plc

“This is a tour de force of bank regulation. Steve Davis provides an excellent insight into bank regulatory systems, investigating the mechanics of who got it right and who failed in providing appropriate oversight of their banking systems over the crisis. A series of lucid and insightful bank regulator case studies reports the experiences of key players and highlights major areas for reform. A must-read for anyone interested in bank regulation pre- and post-crisis.”
Professor Philip Molyneux, Bangor University

Contents

 

 

Key topics:
Chapter 1    Introduction and overview
Chapter 2    Anatomy of the banking crisis
Chapter 3    The emerging new model of financial regulation
Chapter 4    Regulatory structure and policy
Chapter 5    The role of professional skills
Chapter 6    Politics and bank regulation
Chapter 7    Regulatory authority case studies
Chapter 8    Lessons from the past and the outlook for the future
Chapter 9    Conclusions

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Research participants

Institutions
APRA
Banca de Espana
Banca d’Italia
BNY Mellon
BaFin
Bankinter
Banque de France/
Commission Bancaire
Boston Consulting Group
CBFA
Citibank
Deutsche Bank
Fitch Ratings
Financial Services Authority (UK)
Financial Supervisory Authority of
Norway
HSBC
Lloyds Banking Group
Oliver Wyman
McKinsey & Co
OSFI
Office of the Comptroller of the
Currency
Promontory Financial Group
Sandler O’Neill
State Street Bank
Swedbank

Individuals
Claudio Borio
Clive Briault
Professor James Barth
Larry Fish
Edward Ladd
Professor David Llewellyn

Author

Steven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.