What does an undocumented immigrant look like? What kind of family must she come from? How could she get into this country? What is the true price she must pay to remain in the United States? JULISSA ARCE knows firsthand that the most common, preconceived answers to those questions are sometimes far too simple-and often just plain wrong. On the surface, Arce's story reads like a how-to manual for achieving the American dream: growing up in an apartment on the outskirts of San Antonio, she worked tirelessly, achieved academic excellence, and landed a coveted job on Wall Street, complete with a six-figure salary. The level of professional and financial success that she achieved was the very definition of the American dream. But in this brave new memoir, Arce digs deep to reveal the physical, financial, and emotional costs of the stunning secret that she, like many other high-achieving, successful individuals in the United States, had been forced to keep not only from her bosses, but even from her closest friends. From the time she was brought to this country by her hardworking parents as a child, Arce-the scholarship winner, the honors college graduate, the young woman who climbed the ladder to become a vice president at Goldman Sachs-had secretly lived as an undocumented immigrant. In this surprising, at times heart-wrenching, but always inspirational personal story of struggle, grief, and ultimate redemption, Arce takes readers deep into the little-understood world of a generation of undocumented immigrants in the United States today- people who live next door, sit in your classrooms, work in the same office, and may very well be your boss. By opening up about the story of her successes, her heartbreaks, and her long-fought journey to emerge from the shadows and become an American citizen, Arce shows us the true cost of achieving the American dream-from the perspective of a woman who had to scale unseen and unimaginable walls to get there.

Financial markets are witnessing an unprecedented explosion in the availability of data, and the firms that survive will be able to leverage this information to increase their profit and expand their opportunities in a global world. Large firms must build their own datacenters to manage this data. In such an environment, the CIO s ability is crucial to lead an effective data strategy to capture, process, and connect data to all the relevant lines of business. At the core of this strategy lies the datacenter - the repository of all information. While there are books that discuss the mechanics, hardware and technicalities of datacenters, no book has yet made the connection between enterprise strategy and datacenter investment, design and management. Next Generation DataCenters in Financial Services is a solution driven book for management that demonstrates how to leverage technology to manage the seemingly infinite amount of data available today. Each chapter offers cutting-edge management and technology solutions to effectively manage data through datacenters.
Presents cutting-edge technology solutions not available in one place until now
Includes step-by-step instructions on how to implement a datacenter strategy based on the author s recent success with Wachovia s datacenter
Demonstrates how business and IT can be aligned in financial services"

How championing consumers led to ING Direct's revolutionary rise in the banking industry

In an industry dominated by big banks with little patience for their customers, ING Direct has always strived to be different-a rebel with a cause, if you will-and in doing so, they've become the most successful online banking venture in history.

"The Orange Code" recounts ING Direct's intriguing story, explaining the philosophy of its founder Arkadi Kuhlmann-who believes in the power of individuals to control their financial destiny-and his long-running partnership with Bruce Philp, the branding consultant who helped him make ING Direct a cause to its own people and a household name across North America.Discusses the unconventional approach to business strategy, leadership, and management that built ING DirectWritten by the company's CEO, Arkadi Kuhlmann, the driving force behind this unique company and its approach and Bruce Philp, the branding expert who has worked with some of the world's most well-known and valuable brandsReveals how the cause of personal financial empowerment has made everyone a winner in the ING Direct story

The level of success achieved by ING Direct holds some important lessons and offers some much-needed inspiration to a business world that could use a little of both right now.

This book tells the untold story of how JPMorgan became a universal bank in the 1980s-1990s and the events leading to it being acquired by Chase in 2000. It depicts the challenges Morgan's leaders - Lew Preston and Dennis Weatherstone - confronted when the firm's business model was disrupted by the developing country debt crisis and premier corporate borrowers increasingly accessing capital markets, up to its current management with Jamie Dimon. It depicts what happened to Morgan in the larger story of U.S. banking consolidation. As Morgan sought to re-enter the world of securities and navigate around Glass-Steagall barriers, their overriding goal was to ensure it would remain a pre-eminent wholesale bank serving multinational corporations. Opportunities to grow through acquisition were presented and considered, including purchasing a stake in Citibank in the early 1990s. However, Preston and Weatherstone were reluctant to integrate areas unfamiliar to Morgan such as retail banking or to assimilate cultures that were disparate from the firm's. This first-hand account explores whether Morgan could have stayed independent had its leaders pursued the strategic plan that called for it to make targeted acquisitions in areas where it had well-established businesses. Instead, in the mid-1990s, it went from being the hunter to the hunted. Rival banks that had been burdened by bad loans to developing countries and commercial real estate capitalized on rising share prices during the tech boom to acquire other institutions. Meanwhile, Morgan's profits and share price lagged, which left it vulnerable. During this time, all of the leading financial institutions struggled to change their business models. In the end, no U.S. money center bank was able to become a universal bank on its own. What ensued was a growing concentration of financial assets in a handful of institutions that was the precursor to the 2008 financial crisis, which is explored further using Morgan as a lens, in a book that is sure to interest banking and Wall Street professionals and business readers alike.

This book explores the nature of money and banking throughout their history, and applies this to the study of financial crises. The first part of the book covers the evolution of monetary arrangements, money creation and the business of banking since their earliest manifestations to the present day, showing how changes in the business of banking led to a transformation in the money we use. The second part of the book applies the understanding acquired during the first part to the study of financial crises, showing that money is taken out of circulation when bank loans are paid back. This key insight is at the core of the mechanism that explains financial crises, since an economy that sees its money supply diminish is also an economy that cannot generate enough demand for its own goods and services. Financial crises result when bank lending slows down or comes to a halt - while outstanding bank loans are still due for repayment. The mechanism is discussed in detail, and the crucial role of banks highlighted. Adequate policy measures to prevent crises, or to mitigate their effects, are then put forward in light of this mechanism. The book will be of interest to researchers and students of economic and financial history, as well as those working in finance, banking and economics more widely.

This book gathers together some of the most up-to-date thinking in the growing field of innovation in services and more particularly, in financial services. It explores the peculiarities of innovation in financial services firms and surrounding market players, discusses the open nature of the innovation process, and analyses its success factors and its interplay with strategy and performance. This book provides topical insights on the challenges facing the financial industry, such as the convergence with other sectors, and the increasing regulatory burden. By combining multidisciplinary approaches and by selecting a number of cutting-edge research models, theories, empirical findings and practitioners' insights, it offers unique, contemporary and multidimensional perspectives on innovation for a sector of paramount importance for the running of economies around the world. This book comes at a time of turbulence, uncertainty and within an industry in need of vision and strategic foresight. By synthesizing multiple views from academia and practice, it opens the agenda and contributes to the on-going debate of redefining the multi-polar role of innovation in the financial industry.

This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is explained how these challenges derive from the newly emerging post-crisis structure of the market and from shadow and digital players across all banking operations. Detailed attention is focused on the impacts of digitalization on the main functions of the financial system, and particularly the banking sector. The author elaborates how an alternative model of banking will enable banks to predict, understand, navigate, and change the external ecosystem in which they compete. The five critical components of this model are data and information mastering; effective use of applied analytics; interconnectivity and "junction playing"; development of new business solutions; and trust and credibility assurance. The analysis is supported by a number of informative case studies. The book will be of interest especially to top and middle managers and employees of banks and financial institutions but also to FinTech players and their advisers and others.

Expert advice for financial advisors looking to make the most of social media platforms

Social media is everywhere. 3.5 billion pieces of content are shared on Facebook each week, 22 million professionals are networking on LinkedIn, and 140 million tweets are posted every day. The opportunities these platforms present for financial advisors are huge, but most advisors have no idea how to use them to build bigger, stronger client bases. "The Social Media Handbook for Financial Advisors: How to Use Facebook, Twitter, and LinkedIn to Build and Grow Your Business" shows how to make the most of these new tools, offering invaluable advice about how to connect with potential clients in the twenty first century.

For most advisors, converting prospects into clients is their top priority, and social media presents incredible opportunities for sealing the deal. Sales don't happen because clients are impressed by complicated charts, they happen because they're impressed by your social media presence, and by properly understanding how to make these new platforms work for you, you'll be positioned to see your business boom.Designed to teach financial advisors how to use social media to better market their services to attract new clients and referralsPresents expert communication advice from top financial advisor coach Matthew HalloranCategorizes communicators in a unique new wayTeaches financial advisors how to use social media in new, highly effective ways that they've never even considered

An essential resource for wealth managers and financial advisors looking to amplify their marketing message and raise their visibility in a crowded marketplace, "The Social Media Handbook for Financial Advisors" is the only book you need to make yourself heard.

CONTENTS: Speech Use of Technology in the Financial Sector: Significance of Concerted Efforts; Technology in Banking -- A Strategic Differentiator; Urban Cooperative Banking & Technology; Impact of IT in the Banking Sector; Payment & Settlement Systems & Information Technology; Provisions & Guidelines for Safe & Sound Electronic Banking; Technology Readiness of Indian Banks; Internet Banking in India: Issues & Prospects; Mobile Banking: At the Doorstep of the Masses; Electronic Banking: The Legal Perspectives; Technology in Banks: A Case Study of HDFC Bank; Technology Initiatives by State Bank of India; Business Process Transformation at Syndicate Bank: A Case Study.

Since the Global Financial Crisis, the structure of financial markets has undergone a dramatic shift. Modern markets have been "zombified" by a combination of Central Bank policy, disintermediation of commercial banks through regulation, and the growth of passive products such as ETFs. Increasingly, risk builds up beneath the surface, through a combination of excessive leverage and crowded exposure to specific asset classes and strategies. In many cases, historical volatility understates prospective risk. This book provides a practical and wide ranging framework for dealing with the credit, positioning and liquidity risk that investors face in the modern age. The authors introduce concrete techniques for adjusting traditional risk measures such as volatility during this era of unprecedented balance sheet expansion. When certain agents in the financial network behave differently or in larger scale than they have in the past, traditional portfolio theory breaks down. It can no longer account for toxic feedback effects within the network. Our feedback-based risk adjustments allow investors to size their positions sensibly in dangerous set ups, where volatility is not providing an accurate barometer of true risk. The authors have drawn from the fields of statistical physics and game theory to simplify and quantify the impact of very large agents on the distribution of forward returns, and to offer techniques for dealing with situations where markets are structurally risky yet realized volatility is low. The concepts discussed here should be of practical interest to portfolio managers, asset allocators, and risk professionals, as well as of academic interest to scholars and theorists.

This book reviews the latest methods of sustainable investing and financial profit making and describes how ESG (Environmental, Social, Governance) analysis can identify future business opportunities and manage risk to achieve abnormal returns. Megatrends such as climate change, sustainable development and digitalisation increase uncertainty and information asymmetry and have an impact on the future returns on investments. From a profit perspective, it is largely about how ESG factors affect the long-term value added by companies and the valuation of companies in the financial markets. Although sustainability provides an opportunity for abnormal returns, this phenomenon must be considered in a critical light. The book describes the risks and limitations associated with the accountability and availability of ESG data and tools. This book provides both academic findings and practical models for assessing the sustainability of investees and introduces practical tools and methods to make ESG analysis practice. It focuses on the ESG analysis of equity investments and fund investments in institutional investment organizations and provides a handbook for all investment analysts who are involved with investment decisions. Readers will benefit from understanding the methods, opportunities and challenges that professionals use in their ESG analysis with cases, interviews and practical tools for both institutional and private investors.

Amidst the constant stream of overly technical and excitable books heralding a blockchain revolution that's destined to be more disruptive than the Internet, this book stands apart for its more nuanced take, focusing on the potential for these new technologies to change developing countries for the better. Chain Reaction divides the world into two: for some, blockchain seems a poor substitute for an efficient banking and regulatory system in which transactions are settled instantly and contracts are underpinned by solid institutions. For others, it will be truly life-changing - namely those living in countries where rule of law is weak, concepts of ownership are vague and, consequently, trust in institutions is in scarce supply.With blockchain, we are about to witness a leapfrogging - one that will bring the next billion emerging consumers into the formal economy by creating reliable institutions of contract, ownership and trust among people previously denied such luxuries. The authors humanize the technology by taking the reader on a global journey through a multitude of applications - from registering property to voting and delivering aid. In place of the usual abstract lessons in complex technology, this book is instead filled with lively anecdotes of places where trust is so weak that a crisp dollar bill sells at a premium to a better-used version. The book's goal is to create the first truly approachable, entirely comprehensible and enjoyable read on the wonders to come from blockchain.

In the present financial world, various niche markets play an increasingly important role. One of the fastest-growing niches is, without a doubt, Islamic finance. Indeed, sustainable finance needs constantly evolving innovations, and this book offers valuable insights into Islamic capital structure and Shari'ah equity screening enriching academic discourse. "In recent years, we have witnessed the emergence of a new generation of academics and professionals specializing in various aspects of Islamic finance as knowledge and practice. This has brought about a new dynamism and also further sophistication. This book is one of such contributions, as it develops knowledge which is then transformed into practice whereby practical impact is also achieved. Being an academic book, it provokes readers' thoughts, offering a critique of the implications of the currently applied Shari'ah screenings methodologies. As a transformative practical piece, by developing an innovative screening ratio, in this book, Dr. Yildirim extends his focus on the risk-sharing based financing hierarchy, covers thoughts and the underlying philosophy, and proposes an Islamic version of a pecking order hierarchy. This framework can be considered the foundation for developing an Islamic capital structure theory. This book will benefit academics, professionals, investors, as well as policymakers working in the Islamic finance industry and would like to explore more." (Professor Dr. Mehmet Asutay, Durham University Business School, UK) "This book offers, for the first time after the inception of Shari'ah screening methodologies, a groundbreaking new stock screening solution that is comprehensible, practical, and foremost entirely derived from the primary sources of Islam (Qur'an and Sunnah). Congratulations to Dr. Ramazan for his outstanding contribution to Islamic finance and capital markets." (Associate Professor Dr. Ahcene Lahsasna) "This excellent book is a must-have for all corporate finance students/researchers interested in the theoretical aspect of capital structure and the religious discussion of Shari'ah equity screening. This book should become a companion to those involved in a quantitative research environment and aim to conduct a comparative analysis; an ideal resource for everyone, from Shari'ah scholars to Islamic finance practitioners and beginners to experts." (Professor Dr. M. Kabir Hassan, University of New Orleans, USA)

Today, with the impact of globalization and liberalization on the world economy, new ideas and new thinking dominate the world. The financial services sector is no exception to this. Being an integral part of the financial system of a modern industrial economy, the financial sector has witnessed a proliferation of its functions. This well-organized, easy-to-read text covers the entire gamut of development that is taking place in the Indian financial services sector. Besides providing an extensive coverage of the dynamics of bond market, insurance, banking services, plastic cards, bank-assurance, derivatives and emerging trends of real estate industries, the book also offers an in-depth knowledge of venture capital, lease financing, securitization as effective financial instruments. In addition, the text also gives a detailed account of the principles, operational policies and practices of the financial services sector.This book is pedagogically rich to help students comprehend and apply chapter concepts. It provides a comprehensive coverage of Indian financial regulatory bodies and practices. Offering detailed discussions on the working of SEBI and Stock Exchanges - both NSE and BSE, this work also highlights latest trends in financial services sector with figures and tables.The text is intended for the students of management as well as professionals in the field of financial management. Students pursuing professional courses such as ICWA, CFA and CA will also find the book useful.

Understand how to use equity market metrics such as the price/earnings ratio (and other multiples) to value public and private enterprises. This essential book gives you the tools you need to identify and qualify investments and assess business strategy and performance. Author George Calhoun, Founding Director of the Quantitative Finance Program at Stevens Institute of Technology, shows you how to use metrics to appraise mergers, acquisitions, and spin-offs. You will be able to shed light on financial market conditions, benchmark fair value assessments, and check and calibrate complex cash flow models. Market multiples share a peculiar construction: they are based on an explicit apples-to-oranges comparison of market prices with accounting fundamentals, combining data derived from two very different sources and methodologies. This creates ambiguities in interpretation that can complicate the application of these metrics for the many purposes. Multiples are thus easy to construct, but they can be difficult to interpret. The meanings of certain multiples have evolved over time, and new-and-improved versions have been introduced. The field is becoming more complex and the question of which metrics perform best can be a source of controversy. What You Will Learn Know the definitions, interpretations, and applications of all major market ratios, including: price/earnings (trailing and forward), cyclically adjusted price/earnings, cash-adjusted price/earnings, EV/EBITDA, price/sales, dividend yield, and many more Examine the factors that drive the values of ratios from firm level (such as earnings growth, leverage, and governance) to market level (such as inflation, tax and fiscal policy, monetary policy, and international characteristics) Apply metrics in: investment analysis, index construction, factor models, sum-of-the-parts analysis of corporate structures, and detection of asset bubbles Who This Book Is For Professionals at all levels working in the finance industry, especially in fields related to investment management, trading, and investment banking who are involved with valuation and assessing and advising on corporate transactions and interpreting market trends, and university students in finance-related programs at the undergraduate and graduate levels

This is the first book-length study of Islamic financial services in the United Kingdom. It describes the ways in which British examples of Islamic financial provision illustrate both the main characteristics of Islamic financial teaching and some key issues in the situation of British Muslims. Coverage of the subject is comprehensive: there are chapters on the history of Islamic finance in the UK and on personal accounts, home purchase finance, the equivalents of personal loans and insurance, investment, commercial funding and the relatively new bond-like instruments of sukuk. The author's approach is broadly sympathetic to the general spirit and aims of the Islamic financial tradition but critical of some of its manifestations in practice. The book is especially topical at present, following the crisis in the UK banking industry and the unprecedented level of public debate about the appropriate aims and techniques of the financial markets. Some commentators have recently expressed disappointment that Islamic finance in the UK has failed to live up to the high expectations surrounding it. This book attempts to give a balanced account of the sector's strengths and weaknesses.

This book is about retirement income security. This income security is provided by national public pensions, corporate pensions, and individual and reverse mortgages. However, these systems vary greatly from country to country and, in many countries, do not provide sufficient coverage. Ensuring income security in old age is an important issue that must be resolved in the rapidly aging environment of the world. From the perspective of financial consumers, this book cross-sectionally surveys public pensions, corporate pensions, individual pensions and reverse mortgages and compares them among many important nations. This gives many implications from the perspective of designing an overall income security for each individual. In addition, it presents many of the issues needed for these sustainable and comprehensive income security.

This book traces the development and analyses the performance of life insurance industry in India, since inception of this sector, using different business indicators over the years. It discusses the evolution and changing features of the Indian insurance industry in 3 phases: phase I from 1818 to 1956, phase II from 1956 to 2000 (known as the nationalisation period) and phase III post 2000 (called the post reform period). The book also measures the relative efficiency and productivity of the life insurance industry in India for the post-reform period, by employing Data Envelopment Analysis (DEA). Despite the fact that the life insurance sector recorded a compound annual growth rate (CAGR) of 17% in terms of total premiums and 21% in terms of new business premium collections during the post reform period, the insurers continue to grapple with the issue of profitability. Against this background, the book presents results on the factors determining profitability of the life insurance companies using measures of efficiency and competition. By helping regulatory authorities determine the future course of action in the context of entry of foreign insurers and also in establishing a level playing field, the book has important policy implications.

If you have experience in option trading, or a strong understanding of the options markets, but want to better understand how to trade given certain market conditions, this is the book for you. Mark Sebastian's new edition will teach trade evaluation, using Greeks, trading various spreads under different market conditions, portfolio-building, and risk management. Sebastian's approach will help traders understand how to find edge, what kind of trade under what conditions will capture edge, and how to create and successfully hedge. The book demonstrates how to structure a portfolio of trades that makes more money with less risk.

Addressing a need for innovative solutions to challenges facing organisations today, this book explores the concept of Knowledge Risk Management (KRM), outlining how this new approach can be implemented in the banking sector. The author proposes the first knowledge risk framework that is specific to cooperative banks, which aims to improve the accuracy of risk assessment procedures by combining a conventional risk management approach with knowledge management tools and techniques. Including empirical data taken from interviews with employees in the banking sector, this book provides banks with a valuable tool for tackling potentially damaging knowledge-related risks, making it an essential read for those researching risk management and banking.

'Eloquent, entertaining and accessible.' FT Adviser When Kevin Rodgers embarked on his career in finance, dealing rooms were filled with clamouring traders and gesticulating salesmen. Nearly three decades later, the bustle has gone and the loudest noise you're likely to hear is the gentle tapping of keyboards. Why Aren't They Shouting? is one banker's chronicle of this silent revolution, taking us from an age of shouted phone calls and alpha males right up to today's world of computer geeks and complex derivatives. Along the way, Rodgers offers a masterclass in how modern banking actually works, exploring the seismic changes to the global financial industry over the last thirty years. Above all, his story raises a deeply troubling question: could it be that the technology that has transformed banking - and that continues to do so - is actually making it ever more unstable? 'A welcome addition to the panoply of must-read titles about banking before, during and after the crisis ... by someone who was actually at the centre of the industry at the time.' Euromoney 'An animated first-person narrative about the reality of banking ... lively and engaging.' LSE Review of Books

FinTech and the Remaking of Financial Institutions explores the transformative potential of new entrants and innovations on business models. In its survey and analysis of FinTech, the book addresses current and future states of money and banking. It provides broad contexts for understanding financial services, products, technology, regulations and social considerations. The book shows how FinTech has evolved and will drive the future of financial services, while other FinTech books concentrate on particular solutions and adopt perspectives of individual users, companies and investors. It sheds new light on disruption, innovation and opportunity by placing the financial technology revolution in larger contexts.