The Bankers' Plumber

Thoughts on events and developments in the Financial Services industry. Some of these posts appear in the Bankers Plumber's Handbook

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18 MayCosts: what to legitimately count when figuring out the costs

What’s the cost? Last week, I offered some thoughts on being clear what are true benefits when you have an idea costs. To set the frame of reference, let’s think about an airline. If you can sell all the seats at full price, then happy days. Now imagine that once that is not the case […]

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10 MayCost savings: what to legitimately count when figuring out the benefits

What’s the benefit? Quantify the savings! Both well known chants in our industry and in other industries. Benefits have to be quantified. Fair enough. Quite often, as in many things in the financial services industry, I have seen some math that just does not stand up to much scrutiny, both in terms of reflecting genuine […]

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30 AprCost savings: the perils and pitfalls of trying to get things done. The Emperor’s Got No Clothes On.

The same for less or more for the same. That is one of the mantras of life in the financial services industry and probably in other ones too. The former could easily be re-stated as “save costs”. If you are in the Operational end of a bank, that goal is part of your diet, often […]

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23 AprYet More Muppet Show Adventures: Attempting to boost fees with a Gallic disdain for normalment

With the pint sized French President Sarkozy about to be kicked into the long grass, it seems only reasonable to move from Swiss muppets to a French one, albeit that at least two of the three bad guys in this story live in Switzerland. As many folks are beginning to realise, Swiss bank accounts no […]

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16 AprMore Muppet Show Adventures: Private Bankers being led down the garden path

With the Olympics almost upon us in London, it seems appropriate to have a Muppet team award. This goes out to the private bankers at Credit Suisse for their tri-athlon performance on behalf of their clients in matters structured products in the holy church of open architecture. (Editor’s note: I was at CS when these […]

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09 AprThe Muppet Show: the correct use of the term in the banking world

Kiss & Tell at Goldman Sachs! With the joke about doing God’s Work getting a little old, one Greg Smith has done himself and the gossip columns a favour with that rather stinging and public resignation letter. Now first off, as best I can tell he was not badly treated at Goldman and did not […]

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03 AprProcess control. The advanced class.

Editor’s Note: This is﹟7 in the series on Controls. All that heading stuff looks a bit funny in the emails, so I have dropped it. More. Yes, there’s more. Last week’s blog looked at the three basic elements of good process controls: One Screen, Score and Action. This week we will take it to the […]

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26 MarHe with the best process wins. How to control the process

Editor’s Note: This is﹟6 in the series on Controls. All that heading stuff looks a bit funny in the emails, so I have dropped it. If you fancied talking about Process in a scientific way, you would say it is a function of Procedures and Systems. In the previous blogposts on this subject, I have […]

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20 MarControl V – The Procedure – How do we do that again?

The procedure. Inside a bank that is a topic that has all the appeal of a trip to the dentist. Regulators expect us to have them and senior managers expect us to follow them, not least because that certainly gets them a tick in the CYA box of life. For the poor schmucks that are […]

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14 MarControl IV – Procedures & Checklists or why we don’t need the excitement of a TV Quiz Show

Checklists. A simple trick for a simple business. Memory. We all think we are good at memorizing things. Just like the average guy thinks he is great at driving a car. Still we’d all admit that we are a big forgetful at times. In some professions like being a pilot, forgetting is not an option […]

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