BCG-资本市场同业组织设计研究报告-20110811.pptx

1、Peer Comparisons of Capital Markets Organisations through Interviews Summer 2011!KM-Capital-Markets-Peer-Comparisons-0811.pptx 1 Draft Highly Restricted Copyright 2011 by The Boston Consulting Group,Inc.All rights reserved.Peer Comparisons of Capital Markets Organisations through Interviews is based

2、 on a series of structured interviews(internal and external with clients)during the summer of 2011 by a client case team.The authors are:Stephen Ye Nelson Choi Shane Clifford Robert Gruebner Sukand Ramachandran Tjun Tang !KM-Capital-Markets-Peer-Comparisons-0811.pptx 2 Draft Highly Restricted Copyri

3、ght 2011 by The Boston Consulting Group,Inc.All rights reserved.Agenda Benchmarking summary Key learning from each peer Peer benchmarking!KM-Capital-Markets-Peer-Comparisons-0811.pptx 3 Draft Highly Restricted Copyright 2011 by The Boston Consulting Group,Inc.All rights reserved.Benchmarking methodo

4、logy and scope Methodology Six peer banks were analyzed Selected practices from other banks are also studied Over 100 public sources were reviewed(e.g corporate sites,press releases,analyst reports)Over 40 interviews were conducted with bank executives as well as BCG experts 2010 IB&CM revenue 10,11

5、9 million USD Geographical coverage A European bank with global footprint but more than 75%of its revenue comes from European countries Business scope Retail,corporate and investment banking and investment solutions,with retail as the largest revenue contributor Profile of benchmarked banks 23,084 m

6、illion USD A US bank with strong global presence,with more than 70%of its revenue generated from outside US Consumer,commercial and investment banking,transaction services and wealth management with strong position in consumer and investment banking globally 26,217 million USD A US bank with global

7、footprint with more than 60%revenue from US Investment,commercial and retail banking,securities services and asset management,with investment banking more prominent in the global market 13,097 million USD 6,341million USD 20,326 million USD A European bank with wide global network,Europe and Us cont

8、ributes most of its revenue A European bank with strength in emerging market and limited presence in developed countries A European bank with global network but more than xx%revenue come from Europe business Investment banking,wealth management and asset management with strength in wealth and asset

9、management Consumer,wholesale and private banking with big name recognition in consumer banking in emerging market Corporate and investment banking,transaction services,asset and wealth management,with strength in investment banking BNPP Citibank JP Morgan UBS SCB DB Peer benchmarking!KM-Capital-Mar

10、kets-Peer-Comparisons-0811.pptx 4 Draft Highly Restricted Copyright 2011 by The Boston Consulting Group,Inc.All rights reserved.Eight best practice approaches in driving efficiency(1)Lessons learnt from peer benchmarking Use custody business as captive provider for capital market business Leverage i

11、nternal custody business to provide clearing,settlement,asset servicing,etc.for capital market operation as much as possible unless capabilities are not available in-house Sharing of operation and functions between security services and capital markets Typical operation and support functions which c

12、ould be shared between IB/CM and security services are:Operation include reference data,client on-boarding,payment,reconciliation,Valuation,etc.Support functions include financial control,HR,risk management Centralized/consolidate onshore operations to shared service centers(via hubbing,near-shoring

13、 and offshoring)Peer banks typically have regional/global processing hubs to handle bulk of the work and keep thin layer of mainly client facing operation onshore Onshore:Write ticket,trade confirmation call back Processing hubs:Majority of middle and back office operations Centralizing onshore oper

14、ations will also help to improve control,drive global standards and capture economies of scale.However,regulators are increasingly pushing activities onshore 1 2 3 Peer benchmarking!KM-Capital-Markets-Peer-Comparisons-0811.pptx 5 Draft Highly Restricted Copyright 2011 by The Boston Consulting Group,

15、Inc.All rights reserved.Eight best practice approaches in driving efficiency(2)Lessons learnt from peer benchmarking Off-shoring,near-shoring and outsourcing needs to be properly planned and proactively managed to capture cost saving Level of off/near shoring varies from 20%-50%depending on function

16、s,regulations and internal appetite IT infrastructure and application could be 30%to 50%Business processes typically range from 20%-30%Cost saving from labor arbitrage is not easy to capture and may not be sustainable due to lower productivity and rising wages in offshore locations Successful off-shoring,near-shoring can achieve substantial cost saving(10%-30%)and support future growth.It is important to get three dimensions right:What to outsource Where to outsource How to manage the outsource