Word: bankers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...collateralized-mortgage obligations. Years ago, some genius figured out that mutual funds might save investors the hassle of choosing among thousands of stocks. Yet today there are 7,000 mutual funds, almost as many funds as there are stocks. And more technology just means more change. Says investment banker David Shaw: "The whole financial industry will likely be turned upside down, with shrinkage in some areas and perhaps some outright failures among those firms that are unable to use technology effectively...
...confidence," Sanford predicted in his 1993 speech. "Wealth accounts will be instantly tapped via 'wealth cards.' For example, you will be able to pay for your sports car by instantly drawing on part of the wealth inherent in your vacation house." Finance, suddenly packed with microchips, could become a banker-free zone. Hence the drive of McColl, who is responding to an immutable merger of the laws of finance and the laws of modern business: reinvent yourself...
...deal. Mike Dusche, Microsoft's manager for worldwide financial services, says MSFDC will help banks navigate the coming online-commerce maelstrom by building closer customer ties. He's right: a product like MSFDC--with, say, Money and Investor along for the ride--will surely help your banker retain your allegiance. "The financial industry is based on transaction processing," says Cliff Condon, a senior analyst with Forrester Research, which estimates Microsoft's financial-services sales at $1 billion a year. "MSFDC puts Microsoft squarely between banks and their customers...
...could Gates become the world's de facto banker? "I don't have any interest in bringing Microsoft into that arena," says Dusche. "Frankly, it's a really tough business." But his boss is a really tough businessman. As banking evolves into a competitive, complex business conducted over the Internet, Microsoft software--just as in the PC era--could become ever more valuable even as the products it enables grow ever less so. "I can go online and find hundreds of checking accounts," says Condon. "Microsoft wants to sell more servers and software, not become a financial institution." But Gates...
Albert F. Gordon '59, a retired investment banker and HMC observer, estimates the market price of White River at $80 million, based on its assets and income...