Dangerous Markets: Managing in Financial Crises. McKinsey & Co. (Wiley Finance) - Hardcover

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DOMINIC BARTON is a director with McKinsey & Company and managing partner of the Firm's Korea practice. He also is a leader in the Firm's financial institutions practice. Barton has advised the Korean Financial Supervisory Commission on restructuring their banking system as well as strategized with the Monetary Authority of Singapore. He led a major McKinsey study on how to transform companies into sustainably high performers and has led numerous studies for private and public sector clients in the financial sector. He holds an M. Phil. in economics from Oxford University, where he was a Rhodes Scholar, and a BA in economics from the University of British Columbia.

ROBERTO NEWELL is a former director at McKinsey & Company where he led projects for governments and private sector clients in financial crisis. Dr. Newell has served clients immersed in financial crises throughout the Americas, including Argentina, Colombia, Ecuador, Mexico, the United States, and Venezuela. He holds a BA and MA from the Universidad de las Americas in Mexico and a PhD in economics from the University of Texas at Austin. A Mexican citizen, he is currently CEO of FESSA (Fondo de las Empresas Expropiadas del Sector Azucarero), a Mexican government entity charged with turning around and privatizing twenty-seven failed sugar mills. With Luis Rubio Frieberg, Newell wrote an award-winning book on Mexico's financial crisis of the 1980s, entitled Mexico's Dilemma: The Political Origins of Economic Crisis.

GREGORY WILSON is a principal in McKinsey & Company's Washington, D.C. office, specializing in strategic issues that affect private and public sector clients in the financial services industry. Wilson has worked on financial sector restructuring around the world, including many recent crisis countries in Asia and South America, and has conducted numerous client studies on policy, strategic, regulatory, and structural issues. He holds a BA in history, and politics and government from Ohio Wesleyan University. From 1974-1976 he attended the Fletcher School of Law and Diplomacy where he studied international business and law. Prior to joining McKinsey, Wilson served as Deputy Assistant Secretary for Financial Institutions at the U.S. Treasury Department during the U.S. savings and loan crisis.

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"Financial crises are hardly limited to the purview of central bankers and regulators. The authors skillfully demonstrate that financial crises offer both peril and promise. A ′must–read′ for top management of any global company, whether a financial or a nonfinancial institution." Ronald P. O′Hanley, Vice Chairman, Mellon Financial Corp.

"Based on their vast experience in financial crises around the world during recent years, the authors have developed an impressive review of the origins of and solutions to financial crises. The cost of such crises can be minimized and the path to recovery established earlier if bankers, other corporate executives, and public finance officials take advantage of this effort and apply the lessons learned from their significant work." Charles H. Dallara, Managing Director, Institute of International Finance, Inc.

"Dangerous Markets is a ′must–read′ in the current global environment for all serious investors and senior executives. The McKinsey authors bring a unique practitioners′ perspective to the challenges of anticipating, managing, and succeeding in financial crises, and close with an intriguing call for leading private sector players to s tep up their role in promoting new market standards and structures to help avoid future financial crises and minimize their potential impact." Robert R. Glauber, Chairman and CEO, NASD; former Under Secretary of the U.S. Treasury Department and former Harvard Business School professor

Don′t get caught off–guard by the next financial crisis. Pick up Dangerous Markets and be prepared to act, rather than react.

Aus dem Klappentext

In a world of increasing financial globalization, the impact of financial crises can have far-reaching effects-entire financial systems collapse, companies go bankrupt, government debt increases, unemployment explodes, and social unrest typically mounts. For these and many other reasons, financial crises have become too costly to shareholders and societies to leave unmanaged. The fact is that investors, CEOs, top-level executives, and even governments can no longer assume a wait-and-see position; they must manage financial crises proactively to successfully navigate through these financial storms.

Whether you're an investor looking to avoid losses, an executive managing a company, or a public official thrust into a financial crisis, Dangerous Markets: Managing in Financial Crises is the first crisis management guidebook that comprehensively addresses the unique challenges posed by financial crises. Written from a practitioner's microeconomic perspective, Dangerous Markets draws upon McKinsey & Company's extensive client work and global research as well as the practical crisis management experience of experts Dominic Barton, Roberto Newell, and Gregory Wilson.

Through real-world case studies and professional perspectives, this book will show you how to anticipate and manage a financial crisis as well as how to prosper during this chaotic period. Divided into four equally informative parts, Dangerous Markets covers a wide range of financial crisis topics and offers proven advice for a number of potentially hazardous situations. You'll learn how to:
* Fully understand crisis risks in a global economy and recognize the warning signs in advance
* Aggressively manage the tactics required during the first 100 days to survive a crisis, and design a breakthrough strategy to capture unique growth opportunities
* Manage unique banking risks through active bank turnarounds and excellence in nonperforming loan (NPL) recovery
* Build for the future by setting new market-oriented standards and safeguards to prevent crises and lessen their impact

With the right combination of vision and strategy it is possible to anticipate and manage in a financial crisis. Filled with valuable insights and recent foreign and domestic examples, Dangerous Markets is a flexible road map that provides practical solutions and actionable strategies. Financial crises are indiscriminate and sometimes inevitable. Many individuals, institutions, and governments were unprepared for events such as the 1997 Asian crisis or the 1998 Russian debt default. Don't get caught up in the whirlwind of the next financial crisis. Pick up Dangerous Markets and be prepared to act, rather than react.