McKinsey & Company | Global news | Financial Services

An overview of McKinsey & Company global news in the Financial Services industry:

United States

North America | United States

Ex-McKinsey partner pleads guilty to insider trading Puneet Dikshit, a former partner at consulting firm McKinsey & Company, on December 15 pled guilty to a single count of securities fraud in Manhattan federal court.
03 January 2022
United States

North America | United States

McKinsey investment fund pays $18 million to SEC for compliance failures MIO Partners, a private investment fund affiliated with consulting firm McKinsey & Company, has agreed to pay an $18-million fine to the US Securities and Exchange Commission over allegations the fund had ina
24 November 2021
United Kingdom

Europe | United Kingdom

Covid-19 aftermath could wipe off $4.7 trillion from banking sector The global banking sector faces a multi-trillion stress-test in the coming three years, according to a new review of the industry by consulting giant McKinsey & Company.
13 January 2021
India

Asia | India

Indian banks risk Rs 12 trillion Covid-19 hit, says McKinsey Although resilient in the face of Covid-19, banks in India will have to withstand trillions in credit and revenue losses for this year, and a few more to come.
05 January 2021
India

Asia | India

A strategic agenda for Indian banks in the post-Covid world Indian banks are at risk of losing hard-won efficiency gains and should quickly rework how they operate to tackle new challenges, write Akash Lal, Alok Kshirsagar, Siddhartha Gupta and Shikha Gupta f
14 December 2020
United Kingdom

Europe | United Kingdom

European FinTechs face 'existential threat' as funding dries up Despite years of hype declaring FinTech investment was set to experience some endless boom, the bubble looks set to burst amid the current recession.
12 October 2020
Switzerland

Europe | Switzerland

McKinsey advising UBS on potential Credit Suisse merger UBS Chairman Axel Weber is considering a mega merger with Credit Suisse some time next year, with consultants from McKinsey & Company brought on board to draw up a potential road map for the deal.
22 September 2020
United Kingdom

Europe | United Kingdom

UBS calls in McKinsey to explore merger with Credit Suisse Swiss financial giant UBS has reportedly tapped consultants from McKinsey & Company to draw up plans for a mega-merger with rival wealth manager Credit Suisse.
22 September 2020
United Kingdom

Europe | United Kingdom

McKinsey partner Chira Barua joins HSBC as Head of Strategy Chira Barua, a partner at McKinsey & Company, has joined HSBC as Group Head of Strategy.
02 June 2020
Germany

Europe | Germany

Commerzbank calls in consultants from McKinsey and Bain Ailing German bank Commerzbank has brought in consultants from McKinsey & Company to advise on an overhaul of its strategy, shortly after arch-rivals Bain & Company was also tapped to help the bank i
19 May 2020
United Kingdom

Europe | United Kingdom

McKinsey's Communications Director Steve John joins HSBC McKinsey & Company Partner Steve John will step down from his role leading the strategy consulting giant’s global communications efforts to join HSBC as the bank’s group Chief Communications Officer.
25 October 2019
United Kingdom

Europe | United Kingdom

Global banking facing 'anaemic' revenues a decade on from financial crisis A new study has found that banking revenues across the world have collapsed since the global financial crisis, as industry growth is running at less than half the historical average.
15 November 2018
United Kingdom

Europe | United Kingdom

Growing number of junior bankers switching to MBB consultancies An increasing number of junior banking professionals are considering shifting to the world’s largest strategy consultancies, according to a number of young professionals in both sectors.
07 September 2018
United States

North America | United States

McKinsey faces conflict of interest questions over retirement fund McKinsey & Company is under scrutiny after the Wall Street Journal uncovered evidence that its retirement fund held investments that may have created a conflict of interest in six bankruptcy cases in
22 June 2018
Africa

Africa | Regional

Africa's banking sector the second most profitable in the world, says McKinsey As the global banking sector continues to see sluggish growth since the financial crisis a decade ago, the prospects are much brighter for the banking sector in Africa, according to a new report from
05 March 2018
Morocco

Africa | Morocco

Former McKinsey consultant Joerg Weber leads Allianz in Morocco Insurance giant Allianz has appointed Joerg Weber, an alumnus of McKinsey & Company, as Managing Director of its operations in Morocco. Joerg Weber has been with Allianz since 2002.
25 January 2018
Germany

Europe | Germany

Deutsche Bank asks McKinsey to help draft strategic plan Deutsche Bank has hired the management consultancy McKinsey to identify areas where the bank should spend its limited cash reserves to revive its ailing business.
21 December 2017
South Africa

Africa | South Africa

Nedbank becomes third major creditor to cut ties with McKinsey Nedbank has become the latest in a line of major financial institutions in South Africa to disassociate itself from McKinsey & Company, following the infamous Gupta scandal that unfolded in the count
14 December 2017
South Africa

Africa | South Africa

Standard Bank and Barclays Africa drop McKinsey following scandal In the latest chapter of the ongoing Gupta family saga in South Africa, both Barclays Africa (Absa) and Standard Bank have declared that they will no longer associate with McKinsey & Company, termina
01 November 2017
United Kingdom

Europe | United Kingdom

McKinsey Senior Partner Tim Welsh joins US Bancorp Tim Welsh, has been handed the role of Vice Chairman of Consumer Banking Sales and Support at US Bank.
28 July 2017
United Kingdom

Europe | United Kingdom

Interest in digital banking offers major opportunities for Gulf banks The market penetration of the internet in the United Arab Emirates and Kingdom of Saudi Arabia has opened up digital banking channels, the utilisation of which have increased significantly in recent
24 May 2017
United Kingdom

Europe | United Kingdom

Insurance industry to see profits eroded by InsurTechs and digital rivals The insurance industry is beginning to face the prospect of digital innovation affecting their business models.
22 March 2017
United Kingdom

Europe | United Kingdom

Ulster Bank asks McKinsey to support growth strategy development Ireland-based Ulster Bank has called in the support of McKinsey & Company to help its Board with the development of a new growth strategy.
17 October 2016
United Kingdom

Europe | United Kingdom

Insurers keen to develop ERM systems to unlock business risk insights Enterprise risk management solutions within the insurance industry are on the increase, as their reactionary potential for dealing with risk events pays off.
04 October 2016
United Kingdom

Europe | United Kingdom

Fed hires McKinsey to support Faster Payments Task Force To support the development and roll out of new payment systems in the US, the US Federal Reserve launched the Faster Payments Task Force in 2015.
09 May 2016
United Kingdom

Europe | United Kingdom

It is not how much you spend on IT; it is how you spend it It is not how much you spend; it is how you spend it, finds recent research by McKinsey & Company into bank IT spending.
01 February 2016
United Kingdom

Europe | United Kingdom

McKinsey & Company invests in Chinese Ping An Group As part of its involvement in advising Ping An Insurance’s subsidiary Ping An Property, McKinsey & Company has invested an undisclosed amount into the company, which will be partly used for the compa
05 January 2016
United Kingdom

Europe | United Kingdom

Advisors earned 153 million from Irish banking crisis Between 2008 and the 2014 external advisors, lawyers and consultants supporting the Irish banking crisis racked in €152.7 million in fees.
13 October 2015
United Kingdom

Europe | United Kingdom

McKinsey alumnus Tidjane Thiam CEO Credit Suisse Swiss headquartered financial services group Credit Suisse has appointed former McKinsey & Company consultant Tidjane Thiam as its new CEO. Thiam succeeds Brady Dougan. span class="s1"
15 April 2015
United Kingdom

Europe | United Kingdom

McKinsey: Banks must invest in back office automation As banks follow the trend of digitalisation in the financial services industry, they should choose wisely the areas of investments, says consulting firm McKinsey & Company. In it's recent research, the firm shows that not all digital investment
12 January 2015
United Kingdom

Europe | United Kingdom

Santander UK hires McKinsey advisor to run FinTech unit Santander UK has hired former McKinsey Associate Principal Mariano Belinky as Managing Director of its $100 million Innoventures Fund, set up to invest in fintech start-ups.
30 December 2014
United Kingdom

Europe | United Kingdom

McKinsey survey reveals BoE plagued by internal politics A recent research from McKinsey & Company finds the staff of the Bank of England are dissatisfied with elements of how the institution is run. While not all bad news, the report finds that listening to staff will allow it to “b
10 November 2014

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