Before the arrival and leadership of Stuart Adam (“Adam”), Bank Julius Baer, North America (“BJB-NA” or the “Company”), the largest independently-owned European private bank in the United States, faced financial difficulties. By mid-2001, a worldwide market downturn caused a significant decline in Julius Baer Group’s (“JB” or the “Parent”) performance. In 2001, JB’s stock price was down by over 40% while the Parent experienced a 39% decline in net profits, 9% increase in operating expenses and an increase of 14% in employee headcount. BJB-NA, the “crown jewel” of JB, was barely profitable but no one inside the Company knew its true financial condition.…
On February 26, 1995, the oldest British Bank’s declared bankruptcy due to fraud caused the warning bells for many other organizations about the level of danger fraud can cause. Nick Lesson, a guy who comes from a background of the working class, had been working for Royal Bank Coutts, Morgan Stanley for a couple of years until he finally joined the Barings. He was assigned a job in Barings (Jakarta) to sort out a back-office mess that involves about £100 million in share certificate. After successfully completing his job assignment, Nick was transferred to Barings in Singapore to work as a derivative trader for both Singapore and Japan. Nick caused the lost for Barings Bank of almost 1.4 billion due to the enormous accumulation of trading obligations that he had built up. Nick Lesson thought he could make up the loss by waiting for the market price to go up, but it never happened since the earthquake in Kobe in 1995 was totally out of his plan. Knowing that the bank wouldn’t be able to make up for the loss, Nick ran away with his wife and was caught afterward. Barings declared bankruptcy in February 1995 and was bought by Dutch Bank for £1.…
According to the report of Swaidan (2012), Japan has suffered painful economic recession and a series of corporate misconducts and scandals over the last decade. In the meantime, people's interests in business ethics and corporate social responsibility have remarkably increased (Tsalikis and Seaton, 2011). There are many similarities exist between Japanese and American managers…
The Japanese variant of capitalism cannot be readily or precisely copied, except perhaps by a few Asian countries, because it is rooted in a homogeneous, hierarchical society with a not so distant feudal past. Changes are slowly taking place, but disciplined workers still display an almost mystical loyalty to their companies, and paternalistic employers reciprocate by guaranteeing job security. Leaders of business, banking and government are members of a unitary elite, and they have a snug relationship.…
What roles have deregulation, innovation, and globalization played in changing the character of bank management in recent decades? Has the overall outcome of the changes been greater stability in the banking sector? Discuss the respective roles of asset and liability management in modern banking.…
The bank had an overall strategy of being “all things to all people.” It took them several years to get to this point where they were at the start of 21st century.…
Religion is a constant variable in today’s world as well as the past. In order to understand Shinto in modern Japan first Shinto must be looked at from the past. Native Japanese religion states Shinto is the way of the gods. Going into depth of Shinto history and the modern view of Shinto now will bring up where Shinto originated from, it’s comparison to other religions, and Shinto’s role in modern Japan.…
JPMorgan Chase & Co. (NYSE: JPM) is one of the world’s largest financial institutions with over $2 trillion in assets. JPM is headquartered in New York and has grown substantially in the past ten years as a result of multiple significant acquisitions and mergers. Most recently, JPM purchased the assets of troubled investment broker Bear Stearns and retail banking institution Washington Mutual, both in 2008. Most financial institutions lost substantial share value throughout 2007 and 2008 due to the struggling residential housing market and overall economic conditions. JPMorgan Chase preserved through the worst of the financial crisis in remarkably good shape. Much of JPMorgan Chase 's outperformance was due to common sense risk management. For example, the bank carried far more tangible capital than Citigroup in early 2008, providing a much larger buffer against subsequent losses. Such conservatism is still paying off, as JPMorgan Chase 's capital base and earnings power ensure that the firm 's recent surprise trading loss will not permanently damage the firm. That being said, the recent missteps is a reminder that even the best managers can mitigate, but not eliminate, risk at financial firms.…
Equally, Japan has developed its own unique business culture which has been practiced for a long time. This essay will analyze the characteristic Japanese business culture which forms the foundation for their business. To begin with, in Japanese corporations, there is a sense of unity which is fostered beyond the boundaries between employers and employees (Odaka, 1986). This is called "Groupism," which is based on joint responsibility and respect for harmony on which most Japanese companies emphasize. Once employees joined a company, they are required to no longer think of themselves simply as an individual instead they identify with the group.…
The past few months have been rough sailing for JPMorgan Chase, as their unethical practices have caught up with them in the form of settlement and legal fees. As the most powerful and wealthiest bank with over 2.4 trillion in assets, JPMorgan Chase’s recent risk exposures should have not only stakeholders concerned but also the general public (2). After unethical risk-taking practices and possibly breaking the Foreign Corrupt Violation Act in China, JPMorgan’s reputation as one of the cleaner banks, under CEO Jamie Dimon, has been tarnished (4). Most of their negative actions can be described by their culture, where the bottom line trumps everything else. In this paper,…
Write a 1-2 page report that provides a response to the CEO of Shinsei Bank, Thierry Porte as if you were Jay Dvivedi.…
One of the most crucial things in the understanding of a country or civilization is to learn about their religion. Religion is not just another concept, it is the way of life for an entire race of people. This is especially true with countries whose religions originated in their country and had been around for many centuries. A great example of this is Shinto in Japan, which has been around for an extremely long time. Shinto formed the country of Japan, explaining how the country formed and how it came to be today. Shinto is an exceedingly significant thing to pay attention to when learning about any other events or concepts in Japan.…
Bibliography: THE board of directors of Godrej Soaps Ltd (GSL) has approved the scheme of demerger of its consumer products business, with the paid-up equity capital being split in the ratio of 60:40. The demerger will come into effect on April 1, 2001.…
The work ethic of Japan could not be more different to the work ethic of Canada. Japanese culture is very different from the Canadian. All aspects of Japanese life, especially business relations, are governed by strict rules of etiquette. A foreign business person who is either ignorant of, or insensitive to, Japanese customs and etiquette needlessly jeopardizes his company's prospects in this country. It goes without saying that the Japanese work ethic and culture greatly affect doing business with other nations in this way. In the following, the most important features of Japanese culture and work ethic will be discussed, and the consequences of neglecting those features as a Canadian business person will be analyzed.…
Shindaiwa manufactures some of the highest quality lawn and property maintenance equipment in the world. Their line of four Shindaiwa backpack blowers has one of the best reputations across the commercial community. Shindaiwa has a stellar reputation for excellence in workmanship.…