Managerial Issues in Finance and Banking: A Strategic Approach to Competitiveness

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  2. Finance, Competitiveness & Innovation
  3. Financial services companies are strategically divesting to remain competitive

IPOs may be evaluated for their ability to raise capital, but in other areas joint ventures are supporting cross-sector collaborations within financial services e. Others may look to optimize distribution, or the middle and back office, through outsourcing or by sale to a larger multi-boutique platform. Wealth and asset management businesses are more likely to be candidates for divestment if they are a captive in a bank or insurer. Operational complexity in executing carve-out sales in the financial services sector remains a common theme.

Financial services companies may underestimate how lack of preparation can impact their timeline for complex carve-outs. Mapping out entanglement issues early and creating an ongoing dialogue between cross-functional teams drives value in terms of timing and net proceeds. The challenges of disentangling an asset from its parent should not be underestimated. For example, a major bank spent hundreds of millions of dollars building IT for a carve-out that ultimately did not take place. This can include everything from customer cross-sell to branch performance, deeper loan portfolio analytics, sales team effectiveness and actual usage of head office allocations.

In financial services, many sellers already have a preferred suitor in mind, while others expect to see greater activity among PE buyers. Running an auction process can help determine whether an offer is reasonable. We have noted anecdotally that financial services companies that commission sell-side due diligence support complete their deals more consistently than those that take a less structured approach.

Sellers should have a clean set of data providing a robust, sensible and pragmatic set of projections for the sale, grounded in a defendable set of historical pro forma numbers.

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Financial services companies are entering the next phase of divestments as strategic sellers rather than as forced sellers. They are stepping up their use of divestments to refocus and streamline their operations and prepare their businesses for a digital and technologically enabled future.

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However, the sector urgently needs to address tactical and strategic gaps if it is to get the most out of divestment opportunities. Our strategic portfolio management advice helps you decide what and when to monetize. Helping you transform or restructure your organization for a better future by enabling business-critical and capital investment decisions.

We help corporates, private equity, governments, sovereign wealth funds, private and family businesses, and educational institutions with their key financial issues. Our extensive cross-border experience, strong international network and broad commercial focus can help you identify the critical strategic tax considerations and explain them in the context of your transaction and future plans for the business. The EY Global Corporate Divestment Study focuses on how companies should approach portfolio strategy, improve divestment execution and future-proof their remaining business.

EY Client Portal. EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders.

In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. For more information about our organization, please visit ey. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website.

Customize cookies. Search Search No results have been found. Recent searches. See all results for. Who we are What we do What we think Work with us Our locations. Select your location Change. Local sites. Connect with us. Link copied. Financial services companies are strategically divesting to remain competitive.

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David Lambert EY Global Insurance Transactions Leader Helping clients to assess the merits of investing into, or divesting of, companies in the insurance sector. Related topics Transaction advisory services Financial services Banking and capital markets Insurance Wealth and asset management. Divestments will help fund investment in the latest technology, streamline operating models and optimize portfolios. First, revenue pressure is growing.

It is believed this use of data will not only improve the understanding of customer needs, but also drive operational efficiency and effectiveness throughout the organization. Business networks, customers and suppliers are the leading contenders, while start-ups and competitors are further down the prospect list of partners.

It is more important than ever to develop a proactive approach to regulation, with a regulatory leader within the organization that is charged with liaising with regulators, assessing the strategic impact and coordinating responses to regulatory requirements.

Finance, Competitiveness & Innovation

In an effort to be more proactive, banks will begin to embed compliance throughout the organization, ensuring the most efficiency and effective use of resources states PwC. This will involve both cultural change and a streamlining and simplification of processes.

For many organizations, the centralization of the compliance process has worked well, especially in regards to know your customer and anti-money laundering efforts. Advanced use of data for identification and surveillance of abnormal behavior helps detect for instance. Digital technologies provide a great deal of growth opportunities while providing the potential for greater efficiencies and reduced costs.

Log out of Readcube. Click on an option below to access. Log out of ReadCube. This required JPMorgan Chase to implement strategic changes to their internal and external environment utilizing their resources and competencies. If you do not receive an email within 10 minutes, your email address may not be registered, and you may need to create a new Wiley Online Library account. If the address matches an existing account you will receive an email with instructions to retrieve your username.

Financial services companies are strategically divesting to remain competitive

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