In the news 2012
Financial services “sectors move closer but client relations remain key”
In November 2012, Partner Penney Frohling spoke to the Financial Times for their Private Banking Special Report. In an article on banks integrating their investment banking and wealth management operations Frohling comments that “taking investment bankers and turning them into private bankers is fraught with problems” because “they are dealmakers, not relationship bankers.”
“UK could be £63bn better off”
In November 2012, Booz & Company launched a report – This is for everyone: The case for universal digitisation – with well-known cross-sector charity Go ON UK which presents the socioeconomic case for universal digitisation, particularly in the United Kingdom. The report by Partner Victor Koss, Principal Sid Azad, Associate Anu Gurm and Consultant Elliot Rosenthal was covered by BBC News, BBC Radio 4’s Today, The Telegraph and The Times with UK digital champion Martha Lane-Fox outlining the findings of the study and objectives of Go ON UK.
“Firms must stay tuned to shifting demands”
CEO Cesare Mainardi spoke to the Financial Times’ Management Editor, Andrew Hill, as part of the annual report on Business of Consulting in November 2012. In an article on the adaptability and agility of traditional business to new markets and customers, Mainardi observes, “the world seems stuck….companies are in a wait-and-see mode; things aren’t frozen but it’s hardly liquid.”
“Mobilising the Female Workforce”
In October 2012, Booz & Company launched its Third Billion study which looks at the growing numbers of women entering the economic mainstream and the effect this will have on global business. Partner Penney Frohling spoke to CNBC News live on their daily Squawkbox programme telling them that "as the world economy grows and develops, countries cannot afford to ignore over 50 percent of their talent pool.” Frohling adds, “there is a view that countries that are able to tap into that talent pool are going to see higher growth. There is a very clear correlation between empowering women and GDP growth, literacy rates, and infant mortality rates."
“Iraq at the Crossroads”
In October 2012, Booz & Company’s energy experts - David Branson, Saji Sam and Adrian Del Maestro – wrote a piece for Oilfield Technology on the recent achievements of the Iraq oil industry and the looming challenges to future production growth.
“Digital technologies to spark major shake-up of IT suppliers”
Partner Richard Bhanap spoke to Computer Weekly in September 2012 on Booz & Company’s Global ICT 50 study which shows that “IT service providers and telecoms companies are falling behind internet and software suppliers, as digital technology comes to the fore”. Speaking on the move from big data to social networks, Bhanap states that “the landscape has shifted and it is really important for IT leaders to recognise it has changed and not necessarily stay with their existing suppliers.”
“CEO turnover rate rises to pre-recession levels”
In May 2012, Partner Ashley Harshak spoke to a number of publications, including i and Consultant News, on Booz & Company’s annual CEO Succession Study, which analysis turnover rates and, this year, focuses on how a CEO navigates through the first year in office. Harshak states that “boards are more likely to keep their chief executives during times of economic uncertainty” and, as confidence in the in business improves, turnover increases.
“Financial distress in the Retail Sector”
In May 2012, Principal Andre Medeiros sat on an online panel for Financier Worldwide and gave his view on the performance of- and challenges facing the retail sector. Medeiros states, “in this tough trading environment where price competition is increasingly important to attract frugal consumers, we are seeing our retail clients focus more than ever on end-to-end value chain operational efficiency and differentiated sourcing capabilities.”
“Focused Support in Challenging Times” for financial services
In January 2012, Partner Gagan Bhatnagar outlined the “Ten Steps to Cost Fitness” in ICAEW members magazine FS Focus. In this piece, Bhatnagar explains that “to transform a business into one that is truly lean requires strategic focus, discipline and flawless execution” and suggests “ten useful guidelines that should help financial services firms to address the challenges they face.” For more information on our Fit for Growth℠ methodology, please click here.