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Banking for Family Business - A New Challenge for Wealth Management (Hardcover, 2005 ed.)
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Banking for Family Business - A New Challenge for Wealth Management (Hardcover, 2005 ed.)
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1 2 Laurent Huck and Sergio Trezzi During the last 5 years the
asset management industry has been constantly invested by events
which have required top management of major com- nies to rethink
their business model, while preserving their company s mission.
From the Internet bubble easy growth model to a strong cost control
- vironment in 2000-2003, many financial institutions have
undertaken structural changes in order to reap the opportunities
offered by the new market. Hints of globalization have actually
been around for several decades, even though they made only a
modest impact; however, the availability of global capital and
advances in communication technology have emp- sized the process of
internationalization and the tools available to connect and
integrate business activities to answer to more complex needs of c-
ents. Moreover, the financial scandals and the review of mutual
fund trade activity in the US by the Attorney General Elliot
Spitzer have highlighted the importance to focus all efforts on
renewing the confidence of prof- sional investors and their clients
who have entrusted their capital to asset managers. Therefore,
there is a growing need in the market to reinforce the concept of
Shared Positive Values among the entire industry and among its
stakeholders."
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