The Future of Global Financial Services (Blackwell Global Dimensions of Business Series)

This book explores the future of the financial services industry, giving readers an idea of the kinds of institutions and services that will survive in the early twenty-first century. An informative and provocative exploration of the future of the financial services industry. Focuses on likely changes in the near future, such as greater use of the Internet for banking transactions and the increasing globalization of financial services. Points to the probable disappearance of the insurance sector as a separate industry. Describes changing conditions in key financial centres, especially the US, the UK, Germany, Japan and Switzerland. The Book Focuses On The Changes That We Will Face In The Near Future, Such As Greater Use Of The Internet For Banking Transactions And The Increasing Globalization Of Financial Services. It Considers Changing Conditions In Key Financial Centers Around The World, Especially In The Usa, The Uk, Germany, Japan, And Switzerland; And It Points To The Probable Disappearance Of The Insurance Sector As A Separate Industry. The Book Describes The Strategies Of Major Financial Services Firms, And Discusses The Likelihood That Various Strategies Will Be Viable In The Future.--jacket. Introduction -- The Globalization Of Financial Services -- The Virtualization Of Financial Services -- Government Regulation : The Second Key Factor Underlying Industry Structure -- Competitive Strategies -- Competitive Strategies Of International Financial Institutions -- Competitiveness Of Commercial Banks From Key Countries -- Responding To The Challenge Of The New Economy -- Why Insurance Won't Survive -- Investment Banking At The Crossroads -- Financial Instruments And Financial Structures -- Generation Of Long-term Investment To Support Long-term Bond & Stock Markets -- Centers Of International Financial Activity -- Surviving The 21st Century To Come. Robert Grosse. Includes Bibliographical References And Index. ANNOTATED LIST OF CONTENTS......Page 7 PREFACE......Page 14 ACKNOWLEDGMENTS......Page 17 1 INTRODUCTION......Page 21 2 THE GLOBALIZATION OF FINANCIAL SERVICES 2......Page 33 3 THE VIRTUALIZATION OF FINANCIAL SERVICES......Page 53 4 GOVERNMENT REGULATION: THE SECOND KEY FACTOR UNDERLYING INDUSTRY STRUCTURE......Page 73 5 THE FINANCIAL LANDSCAPE: ORGANIZATIONS AND ALLFINANZ BANKING (THE STATUS QUO) 5......Page 91 6 COMPETITIVE STRATEGIES OF INTERNATIONAL FINANCIAL INSTITUTIONS......Page 105 7 COMPETITIVENESS OF BANKS FROM KEY COUNTRIES (OR, WHY ARE THE US BANKS AHEAD?)......Page 123 8 RESPONDING TO THE CHALLENGE OF THE NEW ECONOMY......Page 143 9 WHY INSURANCE WON’T SURVIVE......Page 157 10 INVESTMENT BANKING AT THE CROSSROADS......Page 171 11 FINANCIAL INSTRUMENTS AND FINANCIAL STRUCTURES......Page 185 12 THE GENERATION OF LONG-TERM INVESTMENT TO SUPPORT BOND AND STOCK-MARKET GROWTH......Page 197 13 INTERNATIONAL FINANCIAL CENTERS......Page 209 14 SURVIVING THE TWENTY-FIRST CENTURY......Page 219 INDEX......Page 223 "The book focuses on the changes that we will face in the near future, such as greater use of the internet for banking transactions and the increasing globalization of financial services. It considers changing conditions in key financial centers around the world, especially in the USA, the UK, Germany, Japan, and Switzerland; and it points to the probable disappearance of the insurance sector as a separate industry. The book describes the strategies of major financial services firms, and discusses the likelihood that various strategies will be viable in the future."--BOOK JACKET. PrefacePart I: The Environment1. Introduction2. The Globalization of Financial Services3. The Virtualization of Financial Services4. Government Regulation: The Second Key Factor Underlying Industry StructurePart II: Competitive Strategies5. The Financial Landscape: Organizations and Universal Banking (The Status Quo)6 At the beginning of the twenty-first century, the financial services sector is going through an enormous and dramatic process of change.