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BRITISH AND GERMAN BANKING STRATEGIESJANSSEN SV.wydawnictwo: PALGRAVE MACMILLAN , rok wydania 2009, wydanie Icena netto: The author investigates the strategies of eight publicly listed banks in Britain and Germany in the context of European financial integration. Evidence is provided that banks with defensive strategies fared better than those which attempted to break out of a coherent financial system in order to embrace new business opportunities. SVEN JANSSEN is Vice President at Bank Sal. Oppenheim, Frankfurt, Germany. He has worked in investment banking since 1999, focusing on financial institutions and real estate. He studied at universities in France, Germany, the UK, and the USA and spent some time as a management consultant in Lausanne, Switzerland. Sven holds a PhD in Finance and Strategy from the School of Management at the University of Bath, UK. Table of Contents
List of Tables and Figures ix Abbreviations xi Acknowledgements xiii Preface xiv 1 Setting the Scene 1 2 What Is a Bank? 8 2.1 Introduction 8 2.2 The rationale for banking regulation 8 2.3 Legal definition of a bank in the European Union 10 2.4 Legal definition of a bank in the United Kingdom 10 2.5 Legal definition of a bank in Germany 12 2.6 Microeconomic definition of a bank 15 2.7 Macroeconomic definition of a bank 17 3 Corporate Strategy Analysis and Applicability to the Banking Sector 19 3.1 Introduction 19 3.2 Strategy analysis in its historical context 21 3.3 A multifaceted term: "strategy" as it is used in this book 27 3.3.1 Strategy as plan 27 3.3.2 Strategy as pattern and structure 29 3.3.3 Strategy as perspective 30 3.3.4 Strategic positioning 31 3.3.5 Strategy as ploy and tactic 33 3.3.6 Between micro and macrostructure: "strategy" in this book 34 3.4 Economic structures revisited - competitive forces in the banking industry 35 3.4.1 A framework for competition analysis 36 3.4.2 Barriers to entry in banking 38 3.4.3 Analysis of competition among established players in a banking market 42 3.4.4 The substitution problem for banking products and services 44 3.4.5 The bargaining power behind a bank's asset-liability management 47 3.5 A bank's resources determine its core competence 55 3.6 Banking: the link between micro- and macrostructures 60 4 British and German Banking: Case Studies 65 4.1 Introduction 65 4.2 The Royal Bank of Scotland plc 78 4.2.1 Introduction and status quo in 1993 78 4.2.2 Income structure 80 4.2.2.1 Structural overview 80 4.2.2.2 Corporate and investment banking82 4.2.2.3 Asset management 83 4.2.2.4 Retail banking 84 4.2.3 Cost and risk management 88 4.2.4 Asset-liability structure 91 4.2.5 Profitability 93 4.2.6 Conclusion 94 4.3 Deutsche Bank AG 95 4.3.1 Introduction and status quo in 1993 95 4.3.2 Income structure 96 4.3.2.1 Structural overview 96 4.3.2.2 Corporate and investment banking 98 4.3.2.3 Asset management 100 4.3.2.4 Retail banking 102 4.3.3 Cost and risk management 105 4.3.4 Asset-liability structure 107 4.3.5 Profitability 109 4.3.6 Conclusion 110 4.4 HSBC Holdings plc 112 4.4.1 Introduction and status quo in 1993 112 4.4.2 Income structure 114 4.4.2.1 Structural overview 114 4.4.2.2 Corporate and investment banking 117 4.4.2.3 Asset management 119 4.4.2.4 Retail banking 120 4.4.3 Cost and risk management 122 4.4.4 Asset-liability structure 124 4.4.5 Profitability 126 4.4.6 Conclusion 127 4.5 Commerzbank AG 128 4.5.1 Introduction and status quo in 1993 128 4.5.2 Income structure 130 4.5.2.1 Structural overview 130 4.5.2.2 Corporate and investment banking 133 4.5.2.3 Asset management 134 4.5.2.4 Retail banking 137 4.5.3 Cost and risk management 139 4.5.4 Asset-liability structure 141 4.5.5 Profitability 143 4.5.6 Conclusion 144 4.6 Barclays plc 145 4.6.1 Introduction and status quo in 1993 145 4.6.2 Income structure 147 4.6.2.1 Structural overview 147 4.6.2.2 Corporate and investment banking 148 4.6.2.3 Asset management 151 4.6.2.4 Retail banking 152 4.6.3 Cost and risk management 155 4.6.4 Asset-liability structure 157 4.6.5 Profitability 159 4.6.6 Conclusion 160 4.7 HVB Group AG/Bayerische Vereinsbank AG 161 4.7.1 Introduction and status quo in 1993 161 4.7.2 Income structure 163 4.7.2.1 Structural overview 163 4.7.2.2 Corporate and investment banking 166 4.7.2.3 Asset management 168 4.7.2.4 Retail banking 169 4.7.3 Cost and risk management 172 4.7.4 Asset-liability structure 176 4.7.5 Profitability 179 4.7.6 Conclusion 180 4.8 Lloyds TSB plc 181 4.8.1 Introduction and status quo in 1993 181 4.8.2 Income structure 183 4.8.2.1 Structural overview 183 4.8.2.2 Corporate and investment banking 184 4.8.2.3 Asset management 186 4.8.2.4 Retail banking 186 4.8.3 Cost and risk management 190 4.8.4 Asset-liability structure 192 4.8.5 Profitability 194 4.8.6 Conclusion 195 4.9 Dresdner Bank AG 196 4.9.1 Introduction and status quo in 1993 196 4.9.2 Income structure 198 4.9.2.1 Structural overview 198 4.9.2.2 Corporate and investment banking 201 4.9.2.3 Asset Management 204 4.9.2.4 Retail banking 206 4.9.3 Cost and risk management 208 4.9.4 Asset-liability structure 212 4.9.5 Profitability 214 4.9.6 Conclusion 215 5 Conclusions 218 5.1 Introduction 218 5.2 Discussion of the findings from each case study 219 5.3 Cross-case pattern analysis 225 5.4 Bridging the micro/macro divide in European economic integration 233 5.5 Epilogue - daring an outlook 241 Bibliography & Sources 245 Index 287 256 pages, Hardcover
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