Restructuring and Innovation in Banking
This book explains how to restructure and successfully turn around a bank or financial institution at a time when the global financial system is facing a new wave of disruption ushered in by innovation from digital financial technology, or FinTech. It is
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Claudio Scardovi
Restructuring and Innovation in Banking
123
SpringerBriefs in Finance
More information about this series at http://www.springer.com/series/10282
Claudio Scardovi
Restructuring and Innovation in Banking
123
Claudio Scardovi AlixPartners London UK
ISSN 2193-1720 SpringerBriefs in Finance ISBN 978-3-319-40203-1 DOI 10.1007/978-3-319-40204-8
ISSN 2193-1739
(electronic)
ISBN 978-3-319-40204-8
(eBook)
Library of Congress Control Number: 2016948298 © The Author(s) 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
This book is really meant to address a couple of gaps in academic and business literature. On one side, restructuring and turnaround are topics well covered for corporates, but there is limited literature and formalized knowledge available on how to restructure and turnaround a bank or a financial institution in general. This mix of art and science is also rapidly evolving, following the recent global financial crisis and the—now well under full implementation—European regulatory regime for managing banking failures, to disconnect the link between a bank insolvency and the potential home Country’s one, and to be less of a burden for taxpayers in the future. Also, the methodology needs to be clarified and differentiated as banks are just different for well-known reasons, here amply described. On the other side, the scope and detail of the financial changes happening right now because of digital innovation and of the so-called fin-tech revolution is not well documented and ever changing—often the realm of hyper-visionaries or techno-scientist, of the booms and busts of the capital markets. This financial innovation is actually one of the main structural reasons that will make banks keep failing, even increase their rat
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