The increasing interdependence of the world economy has huge implications for global finance in the twenty-first century. This volume brings together leading scholars and practitioners to offer in-depth analyses of the new direction open to the financial services industry. They explore the challenges and opportunities of the new finance era, future development in financial markets, with particular emphasis on the role of new technologies and the industry's view of strengthening financial intermediation. The book concludes with an assessment of key managerial and regulatory issues.
The increasing interdependence of the world economy has huge implications for global finance in the twenty-first century. This volume brings together leading scholars and practitioners to offer in-depth analyses of the new direction open to the financial services industry. They explore the challenges and opportunities of the new finance era, future development in financial markets, with particular emphasis on the role of new technologies and the industry's view of strengthening financial intermediation. The book concludes with an assessment of key managerial and regulatory issues.
KPATE ADJAOUTE Senior Quantitative Analyst, Morgan Stanley Capital International ROLF-E. BREUER Chief Executive Officer, Deutsche Bank, AG ROBERT BICHSEL Economist, Swiss Bank International DIDIER COSSIN Full Professor of Finance, Ecole des HEC, Lausanne University ANDREW CROCKETT General Manager, Bank for International Settlements JEAN-PIERRE DANTHINE Professor of Economics, Ecole des HEC, Lausanne University PHILIPPE F. DELHAISE former President, BankWatch, Asia JOHN G. HEIMANN Chairman, Financial Stability Institute, Bank of International Settlements BÉNÉDICT HENTSCH Managing Partner, Darier Hentsch & Cie WILLIAM C. HUNTER Senior Vice President and Director of Research, Federal Reserve Bank, Chicago ANTOINETTE HUNZIKER-EBNETER Chief Executive Office, Swiss Exchange SWX BARON JAN HUYGHEBAERT Chairman and Chief Executive Officer, Almanij-Kredietbank Group MATTHIAS LECLERC Head of E-Commence Investment Banking, Dresdner Kleinwort LIKAS MÜHLEMANN Chief Executive Office, Credit Suisse Group, Zurich ALY M. NEGM Chairman and Managing Director, Delta Bank International, Egypt GARY L. PERLIN Senior Vice President and Chief Financial Officer, The World Bank Group JAN ROXENDAL Executive Vice President, ABB Ltd and Member of the ABB Group Executive Committee PRAKASH SHIMPI Managing Principal (US) for Swiss Re New Markets LARS H. THUNELL President and Chief Executive Officer, Skandinaviska Enskilda Banken DIRK P. TIREZ President, Market Authority of EASDAQ NILSTUCHSCHMID Director of Synchrony Asset Management ALEC TSUI Chief Executive, Stock Exchange of Hong Kong Limited MIKIO WAKATSUKI Chairman of the Board of Counsellors, The Japan Research Institute, Ltd.
Inhaltsangabe
List of Tables List of Figures Acknowledgements Foreword; J.P.Roth Notes on the Contributors INTRODUCTORY ESSAY Financial Intermediation in the Age of Global Capital; G.L.Perlin PART ONE: THE NEW FINANCE ERA: CHALLENGES AND OPPORTUNITIES Banking in the 21st Century: The View from Deutsche Bank; R.E.Breuer The Internet and the Commercial Banking Industry: Strategic Implications from a U.S. Perspective; W.C.Hunter Three Imperatives to Foster as a Financial Institution in the Euro-era; J.Huyghebaert Integrating Risk Management and Capital Management; P.Shimpi IT and the Pressure to Innovate and Restructure; L.H.Thunell PART TWO: FINANCIAL MARKETS: FUTURE DEVELOPMENTS Global Finance Beyond 2000: SWX Swiss Exchange's Challenge; A.Hunziker-Ebneter Online Trading Changes the Capital Markets; M.Leclerc ABB as a Major User of Financial Markets; J.Roxendal The Transformation of Stock Exchanges in Europe; D.P.Tirez & T.Verhoest Hong Kong Financial Centre; A.Tsui PART THREE: REGULATORY/SUPERVISORY AUTHORITIES: STRENGTHENING FINANCIAL INTERMEDIATION The Basic Capital Requirements: A First Step Towards Regulation; A.Crockett New Tools and Risks in Financial Intermediation in Emerging Markets: Should Regulators and Raters Adopt New Methods? The Case of Asia; P.F.Delhaise The Role of the Financial Stability Institute of the Bank for International Settlements; J.G.Heimann Switzerland and the Challenges of Globalization; B.Hentsch Does the World Need a New Financial Architecture?; L.Mühlemann A View from an Emerging Economy; A.M.Negm Japan's Financial System; M.Wakatsuki PART FOUR: ACADEMICS' AND RESEARCHERS' VANTAGE POINTS Rethinking the African Financial Markets' Architecture in the Era of Globalization; K.Adjaoute Banking Regulation: Administrative Rules Versus Market Based Instruments; R.Bichsel Credit Risk: The New Frontier in Risk Management; D.Cossin Banking: Is Bigger Really Better?; J.P.Danthine Turbulence, Crisis and Risk Management; S.Neftci On the Quest of the OptimalPortfolio; N.Tuchschmid CONCLUDING ESSAY Whither Financial Intermediation? Managerial and Regulatory Issues: Z.Mikdashi Index
List of Tables List of Figures Acknowledgements Foreword; J.P.Roth Notes on the Contributors INTRODUCTORY ESSAY Financial Intermediation in the Age of Global Capital; G.L.Perlin PART ONE: THE NEW FINANCE ERA: CHALLENGES AND OPPORTUNITIES Banking in the 21st Century: The View from Deutsche Bank; R.E.Breuer The Internet and the Commercial Banking Industry: Strategic Implications from a U.S. Perspective; W.C.Hunter Three Imperatives to Foster as a Financial Institution in the Euro-era; J.Huyghebaert Integrating Risk Management and Capital Management; P.Shimpi IT and the Pressure to Innovate and Restructure; L.H.Thunell PART TWO: FINANCIAL MARKETS: FUTURE DEVELOPMENTS Global Finance Beyond 2000: SWX Swiss Exchange's Challenge; A.Hunziker-Ebneter Online Trading Changes the Capital Markets; M.Leclerc ABB as a Major User of Financial Markets; J.Roxendal The Transformation of Stock Exchanges in Europe; D.P.Tirez & T.Verhoest Hong Kong Financial Centre; A.Tsui PART THREE: REGULATORY/SUPERVISORY AUTHORITIES: STRENGTHENING FINANCIAL INTERMEDIATION The Basic Capital Requirements: A First Step Towards Regulation; A.Crockett New Tools and Risks in Financial Intermediation in Emerging Markets: Should Regulators and Raters Adopt New Methods? The Case of Asia; P.F.Delhaise The Role of the Financial Stability Institute of the Bank for International Settlements; J.G.Heimann Switzerland and the Challenges of Globalization; B.Hentsch Does the World Need a New Financial Architecture?; L.Mühlemann A View from an Emerging Economy; A.M.Negm Japan's Financial System; M.Wakatsuki PART FOUR: ACADEMICS' AND RESEARCHERS' VANTAGE POINTS Rethinking the African Financial Markets' Architecture in the Era of Globalization; K.Adjaoute Banking Regulation: Administrative Rules Versus Market Based Instruments; R.Bichsel Credit Risk: The New Frontier in Risk Management; D.Cossin Banking: Is Bigger Really Better?; J.P.Danthine Turbulence, Crisis and Risk Management; S.Neftci On the Quest of the OptimalPortfolio; N.Tuchschmid CONCLUDING ESSAY Whither Financial Intermediation? Managerial and Regulatory Issues: Z.Mikdashi Index
Rezensionen
'The book provides an excellent treatment of the competitive forces faced by financial intermediaries at the outset of the 21st century, as well as the challenges they involve and the opportunities they entail. [...] I would definitely recommend this book to a wide array of readers: finance professionals, policy and decision-makers, students, and more generally, to anyone interested in the future of financial systems and in financial intermediation, in particular.' - Thunderbird International Business Review
'I would definitely recommend this book to a wide array of readers: finance professionals, policy and decision makers, students, and more generally, to anyone interested in the future of financial systems and in financial intermediation, in particular.' - Francois-Serge Lhabiitant, ThunderBird International Business Review
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