The dramatic story of the last fifty years of the Speyer banking dynasty, a Jewish family of German descent, is surprisingly little known today, yet at the turn of the 20th century, Speyer was the third largest investment banking firm in the United States, behind only Morgan and Kuhn, Loeb. It had branches in London, Frankfurt and New York, and the projects it financed included the Southern Pacific Railroad, the London Underground and the infrastructure of the new Cuban republic. Later, it was the first major banking firm to finance Germany's Weimar Republic, as well as providing League of Nations loans to Hungary, Greece and Bulgaria. Yet, the firm was doomed by the nationalist passions aroused by World War I. Its English partner was denaturalised and exiled; its American partner enjoyed reduced standing because of his connection to Germany; and the Frankfurt branch closed with the coming of the Third Reich, its German partner fleeing into exile. The firm was dissolved in 1939, a surprisingly anticlimactic end to one of the great international banking companies of modern times. George W. Liebmann here tells the story of the firm and the family - shedding new light on the protagonists of a remarkable dynasty, who came undone in the dramatic years of the early 20th century.

Anhand ausgewahlter Praxisbeispiele untersucht Victor Rutz zwei Ansatze zur Nutzung der aktuell kontrovers diskutierten Distributed Ledger Technology, den Public- und den Private-Blockchain-Ansatz. Neben einer umfangreichen Beschreibung der zugrundeliegenden Technologie liefert der Autor eine detaillierte Betrachtung kritischer Erfolgsfaktoren und zeigt so die individuellen Starken und Schwachen beider Ansatze auf.

Markus Bramberger untersucht die europaweite Umsetzung der Payment Services Directive II (PSD II) im Bankensektor, die sich in allen EU-Landern durch eine regional divergierende Auslegung der Gesetzestexte unterscheidet. Der Autor gibt Antworten auf die Frage, ob Banken - wie wir sie noch heute kennen - pauschal durch innovative und digital exzellent positionierte Dienstleister, wie z. B. durch FinTech-Unternehmen, im Zuge von Open Banking substituiert werden koennen. Es ist offensichtlich, dass nur operativ klar ausgerichtete Unternehmensleitbilder der Digitalisierungsoffensive standhalten. Vor dem Hintergrund dieser herausfordernden, aber auch chancengenerierenden Zeit im Bankensektor leistet dieses Buch einen wesentlichen Beitrag uber die Zukunft des bargeldlosen Geldtransfers im gesamten EU-Raum.

In dem vorliegenden Buch analysiert Rene Berg die informationsoekonomische Bedeutung von Informationsintermediaren bei der Kanalisierung legitimer nachhaltiger Unternehmensaktivitaten. Auf Basis einer institutionentheoretisch entwickelten Soll-Nachhaltigkeitskonzeption wird ein asymmetrischer Bewertungseffekt in Form des informationsbedingten Legitimitatseffekts modelltheoretisch prognostiziert und empirisch am Kapitalmarkt nachgewiesen. Aus den gewonnen Erkenntnissen werden konkrete Handlungsempfehlungen fur eine nachhaltige Regulierung abgeleitet.

Abgeleitet aus der Diskrepanz zwischen den Einschatzungen von Expertinnen und Experten und der aktuellen Situation am Mobile Payment Markt zielt dieses Buch auf die Identifikation der zentralen Faktoren der Mobile Payment Akzeptanz aus der Sicht potentieller Nutzerinnen und Nutzer ab. Die Untersuchung fokussiert auf die Erforschung der Akzeptanz von MP mittels Smartphone im stationaren Handel. Das Smartphone wird u. a. von der European Banking Federation als das zentrale Medium im Bereich Digital Banking eingeordnet. Geringe Nutzungsraten bei Mobile Payment im Allgemeinen und vor allem bei Mobile Payment im stationaren Handel zeichnen allerdings ein anderes Bild.

This book provides unique information to prepare graduates and newly hired corporate and investment banking professionals for a career in the global markets environment of large universal and international investment banks. It shows the interrelationship between the three specific business functions of sales, trading, and research, as well as the interaction with corporate and institutional clients. The book fills a gap in the available literature by linking financial market theory to the practical aspects of day-to-day operations on a trading floor and offers a taxonomy of the current banking business, providing an in-depth analysis of the main market participants in the global markets ecosystem. Engaging the reader with case studies, anecdotes, and industry color, the book addresses the risks and opportunities of the global markets business in today's global financial markets both from a theoretical and from a practitioner's perspective and focuses on the most important fixed-income financial instruments from a pricing, risk-management, and client-marketing perspective.

Dieses Buch gibt Banken und anderen Finanzdienstleistern praxisnahe Hilfestellung bei der Digitalisierung von Arbeitsablaufen und Geschaftsstrukturen. Es spricht also insbesondere Praktiker an. Egal ob Geschaftsfuhrer, Vorstand oder Abteilungsleiter, ob "alter Hase" oder Quereinsteiger. Mithilfe der zahlreichen praxisnahen Profi-Tipps und konkreten Umsetzungsbeispiele wird der Praxistransfer erleichtert. Denn die Digitalisierung muss individuell auf die jeweiligen Unternehmensbedurfnisse zugeschnitten sein. Es gibt keine Loesung von der Stange. Vielmehr ist es das Zusammenspiel von Technologie, Unternehmenskultur und strategischer Zielrichtung, das erfolgsentscheidend ist. Wenn nur einer der zahlreichen Praxistipps umgesetzt werden kann, hat sich die Lekture des Buchs bereits gelohnt. Das Buch ist brandaktuell und kann sowohl insgesamt als auch selektiv, abschnittsweise gelesen werden. Es ist eine Mischung aus Fachbuch und praxisnahem Umsetzungsnachschlagewerk mit vielen To-do- und Check-Listen.

Climate change is perhaps among the most serious challenges that humankind has ever faced and perhaps the greatest market failure the world has ever seen. At the same time, clean unutilised energy resources around the world are available that could help remedy climate and environmental problems while also improving peoples lives. It is likely that most of the increased demand for energy in the future will be in the developing and emerging world. This is also where most unutilised clean energy sources are located. The challenge of climate change requires strong comprehensive and firm action from the international community. Clean energy projects tend to be large, capital intensive and long term. They require long term commitment from all the players involved as well as mutual trust. International financial institutions (IFIs), including the World Bank Group and regional development banks can play a key role in promoting the use of clean energy sources by facilitating clean energy investment in developing and emerging markets. This book focuses on those challenges, mainly using geothermal energy projects as examples, but also by providing an example of a large hydropower project to illustrate how the funding and risk mitigation instruments of IFIs, as well as national agencies such as export credit agencies (ECA)s, have been used to mobilise funds in a difficult investment environment. The book is divided into eleven chapters. Chapter One discusses the current global investment regime and the absence of an international organisation for investments comparable to the World Trade Organization that focuses on cross border trade. Chapter Two examines the World Bank Group and its emphasis on loans instead of guarantees for capital mobilisation. Chapter Three discusses international financial institutions, including regional development banks and their risk mitigation instruments. Chapter Four focuses on how IFIs can make more use of their instruments to support cross border clean energy projects in developing and emerging economies. Chapter Five assesses the effectiveness of the risk mitigation instruments used by the World Bank Group. Chapter Six analyses the upfront development costs associated with geothermal development and geothermal projects. Chapter Seven analyses the costs and benefits of deploying public-private partnerships for clean energy projects. Chapter Eight focuses on contested multilateralism and the recent establishment of new international financial institutions under Chinese leadership, i.e. the Asian Infrastructure Investment Bank and the New Development (BRICS) Bank. Chapter Nine examines Iceland with its geothermal cluster as well as how developing and emerging countries could learn from Icelands experience. Chapter Ten analyses selected cross border clean energy projects, including geothermal and hydropower, and shows how various funding and risk mitigation instruments have been used in practice. Chapter Eleven stresses the urgency for global action to address the climate crisis facing humankind. Finally, the concluding chapter shows how international financial institutions can be key instruments for successful global climate solutions. The book draws on the authors experience in three continents (Africa, Asia and Europe) as a staff member of the World Bank Group.

The May 2014 National Climate Assessment indicates that the frequency and/or severity of many weather and climate extremes may increase with climate change. Public and private property insurers can bear a large portion of the financial impact of such weather-related losses. In the public sector, federal insurance includes NFIP, managed by FEMA, and the federal crop insurance program, managed by RMA. This book examines how federal and private exposure to losses has changed since GAO's 2007 report on the subject, and what is known about how climate change may affect insured and uninsured losses; how public insurers are preparing for climate change, and any challenges they face; and how private insurers are preparing for climate change and any challenges they face.

One of the chief objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) is to promote financial stability within the United States, without the need for emergency governmental assistance to troubled firms. This book reviews the legal structure of the DFA's living will requirements; and examines some of the steps that these institutions might voluntarily take, which, in the view of the FRB and FDIC, would improve their resolvability, including strategic divestiture; legal reorganization; amendment of default trigger provisions of qualified financial contracts; and increasing their long-term, unsecured debt as a proportion of their assets.

The current global financial crisis, which began with the downturn of the U.S. sub-prime housing market in 2007, is testing the ability of the International Monetary Fund (IMF) in its role as the central international institution for oversight of the global monetary system. Though the IMF is unlikely to lend to the developed countries most affected by the crisis and must compete with other international financial institutions as a source of ideas and global macroeconomic policy co-ordination, the spill-over effects of the crisis on emerging and less-developed economies gives the IMF an opportunity to reassert its role in the international economy. This book discusses the potential roles that the IMF may have in helping to resolve the current global financial crisis.

Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events--such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode--has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks."The Risks of Financial Institutions" examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. While new financial instruments, new participants, and new technologies typically have improved the informational efficiency of markets and have facilitated the matching of savings with investment opportunities, they have also changed the speed with which new information is incorporated in prices, often giving institutions little time to adjust before they see their financial soundness imperiled by new balance sheet weaknesses or by liquidity problems. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.

This book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in "Disruption and DNA" to a strong technical focus in "Data Storage, Processing and Analysis", leaving "Digitalization and Machine Learning Applications" with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).

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.

Financial Services Canada is the only master file of current contacts and information that serves the needs of the entire financial services industry in Canada. With over 18,000 organizations and hard-to-find business information, Financial Services Canada is the most up-to-date source for names and contact information of industry professionals, senior executives, portfolio managers, financial advisors, agency bureaucrats and elected representatives.

'A brilliantly readable account, based on exceptional access, of the transformation of the old Quaker bank into a hard-charging capitalist adventurer ... both a thriller and a reminder that business is fascinating because all human life is there' John Plender, Financial Times Based on unparalleled access to those involved, and told with compelling pace and drama, The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain's biggest financial institutions. In a tale of feuds, grandiose dreams and a struggle for supremacy between rival strategies and their adherents, Philip Augar gives a riveting account of Barclays' journey from an old Quaker bank to a full-throttle capitalist machine. The disagreement between those ambitious for Barclays to join the top table of global banks, and those preferring a smaller domestic role more in keeping with the bank's traditions, cost three chief executives their jobs and continues to divide opinion within Barclays, the City and beyond. This is an extraordinary corporate thriller, which among much else describes how Barclays came to buy Lehman Brothers for a bargain price in 2008, why it was so keen to avoid taking government funding during the financial crisis, and the price shareholders have paid for a decade of barely controlled ambition. But Augar also shows how Barclays' experiences are a paradigm for Britain's social and economic life over thirty years, which saw the City move from the edge of the economy to its very centre. These decades created unprecedented prosperity for a tiny number, and made the reputations of governments and individuals but then left many of them in tatters. The leveraged society, the winner-takes-all mentality and our present era of austerity can all be traced to the influence of banks such as Barclays. Augar's book tells this rollercoaster story from the perspective of many of its participants - and also of those affected by the grip they came to have on Britain.

The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services. Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks. The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext. The book is unique because: - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room. - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds). - It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach. - It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world. - It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step. Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies. The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.

Loan sharks may conjure up an image of tough guys in fedoras looking to make a profit off of desperate people in dire financial straits, but in reality, lenders who advance small sums of cash at high interest rates until payday existed long before organized crime entered the trade. Today the businesses that fill this niche in the credit market prefer the name 'payday lenders' rather than loan sharks, but most large cities are still a hotbed of usurious lending, and the landscapes are dotted with their inviting and brightly colored storefronts. Despite their more respectable name, these predatory lenders have endured through regulation, prohibition, and the rise and fall of the mob since the late 1800s. In this intriguing and accessible book, Mayer aptly assesses the consequences of high-interest lending--both for the people who borrow at such steep prices and for society as a whole. He argues that although some consumers gain from borrowing at high rates, payday lending in its modern form consistently traps many of the wage earners who pawn their postdated checks, leaving them worse off than they were before. Because payday lending regulations vary widely throughout the country, Mayer chose to focus his story on Chicago, a city that serves as a fine representative of the legacy of loan sharking. "Quick Cash "will engage policy analysts, economists, and regional historians, as wells as general readers interested in the fascinating story behind these unscrupulous lending operations that feed off America's current tough economic times.

The shocking fall of Bear Stearns in March 2008 set off a wave of global financial turmoil that continues to ripple. How could one of the oldest, most resilient firms on Wall Street go so far astray that it had to be sold at a fire sale price? How could the guys who ran Bear so aggressively miscalculate so completely?
In this vivid and dramatic narrative, Kate Kelly takes us inside Bearas walls during its final, frenzied 72 hours as an independent firm. Expanding with fresh detail from her acclaimed front- page series in "The Wall Street Journal," she captures every sight, sound, and smell of those three unbelievable days.
For decades, Bear had proudly recruited aP.S.Dsaa employees who were poor, smart, and had a deep desire to become rich. An elite family or Ivy League diploma didnat matter. Were you willing to do almost anything to make money for the firm? Were you tough enough to be a street fighter?
Bearas leaders were arrogant and didnat play nice. But their style had made them a fortune, and had helped Bear survive every crisis from the Great Depression to the dotcom bubble.
Yet as the subprime mortgage crisis began to brew, the firmas key executives descended into civil war. Kelly reveals fresh, never-before-told details about the moves that led to that brutal final weekend.
With a style as riveting as it is enlightening, "Street Fighters" is the definitive account of a once-great firmas demise, and the human folly that led to the worst financial crisis since the 1930s.

Tatjana Viktorovna Nikitina gibt einen konzentrierten UEberblick uber die Aufgaben der Russischen Zentralbank und die Aktivitaten der Geschaftsbanken im umfassendsten Transformationsprozess Russlands nach der Revolution 1917. Der russischen Regierung kommt die historische Aufgabe zu, Institutionen wie die russische Zentralbank so mit gesetzlichen Regelungen auszustatten, dass die im Wettbewerb stehenden Geschaftsbanken als effektive Institutionen fur Stabilitat, Wachstum und gerechte Verteilung in Russland fungieren. Die Autorin schliesst eine Lucke im Wissen um den russischen Finanzsektor. Fundiertes Wissen um die Herausforderungen in Russland bereitet aber die Grundlage fur geschaftliche Kooperationen. Es baut Vorurteile ab und warnt vor illusionaren Vorstellungen. Insofern ist dieses essential auch ein Anstoss zur Zusammenarbeit, in der Generierung von besserem Wissen, der Wissensvermittlung und des Transfers in die Praxis. Die AutorinProf. Dr. Tatjana Nikitina ist Professorin an der Saint-Petersburg State University of Economics, Russische Foederation. Sie ist dort ferner Direktorin des Russian-German Centre und International Centre for Financial Market Research.

William D. Cohan's Money and Power: How Goldman Sachs Came to Rule the World is a chronicle of the most successful, iconic bank on Wall Street, from the firm's founding in 1869 to the present day. Goldman Sachs are the investment bank all other banks - and most businesses - want to emulate; the firm with the best talent, the best clients, the best strategy. But is their success just down to the gilded magic of the 'Goldman way'? William D. Cohan has gained unprecedented access to Goldman's inner circle - both on and off the record. In an astonishing story of clashing egos, backstabbing, sex scandals, private investigators, court cases and government cabals, he reveals what really lies beneath their gold-plated image. 'The best analysis yet of Goldman's increasingly tangled web of conflicts' Economist 'Startling ... lifts the lid on Goldman's pivotal role in the meltdown' Mail on Sunday 'Cohan portrays a firm that has grown so large and hungry that it's no longer long-term greedy but short-term vicious. And that's the wonder - and horror - of Goldman Sachs' Businessweek 'Cohan's book tells of bitter power struggles and business cock-ups' Guardian 'A definitive account of the most profitable and influential investment bank of the modern era' The New York Times Book Review William D. Cohan was an award-winning investigative journalist before embarking on a seventeen-year career as an investment banker on Wall Street. His first book, The Last Tycoons, about Lazard, won the 2007 Financial Times/Goldman Sachs Business Book of the Year Award and was a New York Times bestseller. His second book, House of Cards, also a bestseller, is an account of the last days of Bear Stearns & Co.

Are you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous 'approved person' approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments.

Internal investigations can be undertaken by a company or firm as a precursor to anticipated regulatory action, or for many other reasons. This title explains what a good regulatory investigation looks like whilst guiding investigators through the myriad of issues that can arise. It also dismantles many of the preconceptions and myths which have grown up around investigations in the post-financial crisis environment. Investigations are part of the 'business as usual' lifecycle for regulated firms. But there is no regulatory blueprint for what is accepted practice or accepted standards. This puts firms at a disadvantage with their regulators. Providing expert guidance on every step of a regulatory investigation including who should carry out the investigation, the scoping and planning, the interviewing and witness handling, how best to cooperate with the authorities, employee conduct and performance investigations, investigating senior staff, press, PR and Corporate Comms and litigation risks A Guide to Conducting Internal Investigations redresses the balance and provides a much needed blueprint for firms who find themselves in this position. This is a new practical resource for all firms and individuals that may find themselves the subject of, or be asked to assist in, a regulatory investigation or enforcement action.

Dieser Jahrgangsband bundelt alle Bankmagazin-Ausgaben des Jahres 2021. Unabhangig, kritisch, kompetent! Fur Fuhrungskrafte der Finanzwirtschaft und solche, die es werden wollen. Das Bankmagazin ist die groesste verbandsunabhangige Bankzeitschrift Deutschlands fur Fach- und Fuhrungskrafte in Banken, Sparkassen und der Finanzwirtschaft. Unabhangige Experten vermitteln fundierte Informationen aus allen bankrelevanten Geschaftsfeldern. Branchenentwicklung, Marketing, Kundenservice, Vertrieb, Personal, Informations- und Kommunikationstechnologie und Finanzprodukte stehen im redaktionellen Fokus. Der Serviceteil erganzt das Themenspektrum durch Unternehmensnachrichten, Produktinformationen, Interviews, Fallstudien, Trends, Veranstaltungen, Literatur und Anbieterverzeichnis.