Is it a good idea to hand over your personal book keeping to financial experts?

“No, you should do your own book keeping and not become dependent on others,” says author and journalist Marieke Henselmans. Dutch private bank Insinger de Beaufort thinks differently, and came up with the Shoe Box concept. “We take care of our client’s administration from A to Z, offering a great convenience for many people. Why wouldn’t you want your book keeping to be in order, while leaving time to do the things you really like?”

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The nationalization of banks can boost the economy. Why?

Amongst others, because nationalized banks are more likely to give credit to consumers and businesses, says Flemish economist Paul de Grauwe in a recent article in the Dutch edition of Metro.

Dutch socialist politician Ewout Irrgang, an advocate for the nationalization of banks, agrees with de Grauwe. He adds that it is easier for the government to support banks that are in financial trouble when they are nationalized because they get full control. Irrgang does not believe in financial injections without a solid commitment. When a bank is nationalized, there is a return of investment. The government gets a share in a company that will likely yield a profit in the future.

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There is one thing that can help you to achieve just about anything, as a leader it enables you, as a friend it secures you and as a brand it fuels customer loyalty. Trust.

It’s one of the most important assets anyone or any organisation can have. Trust is created through strong relationships and genuine recommendations.

Trust is tough to get and easy to lose. Trust in banks has plunged the last few months because of obvious reasons. So now it should be top priority of banks to build trust again. Trust can be built through genuine and honest conversations – by definition that requires a two-way interaction that is not achieved in traditional communication.

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Islamic banking, which has gained a lot in popularity over the past decade, has now proven to be largely immune to the credit crunch. Is Islamic banking a viable alternative to western banking? And what can European and American banks learn from Islamic banks?

The principles of Islamic banking are based on Islamic law: the Sharia. According to the Sharia, it is forbidden to charge interest on loans. Instead, Islamic banks buy the asset (be it a house or a new office building) and sell it to the client for an increased price, which can be paid in terms. This way, the bank shares the risk of the investment and is less likely to finance high risk investments. Additionally, the trade of high risk investments is forbidden, as this is seen as a form of gambling. Insurances are organized along the principles of Takaful, a form of mutual insurance where losses and profits are shared among the members.

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What options does a bank have when it has been reporting losses for five quarters in a row?

Citigroup, one of the world’s largest banks, announced last week that it will be breaking itself up by separating higher risk US consumer finance and securities businesses from its global commercial banking operations. This in an attempt to regain the trust of investors and possibly the customers.

Various high-risk assets such as brokerage and asset management will be included in Citi Holdings. Also included is a 49% share in a new joint venture with Morgan Stanley. Citigroup’s institutional and retail banks, including their global transaction services and private banking operations will be incorporated in a firm called Citicorp.

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It is necessary for banks to give special attention to specific and well picked target groups and serve their specific needs, in order to remain competitive in the financial market.

As an example of this, the Emirates Islamic Bank in Dubai pioneered a special banking branch solely for women.

A recent article in FinObserver reveals that the bank has incorporated the individual needs of women in its business model. Women are offered a financial zone free of men, as well as custom banking products such as retail-outlet discounts, special travel packages and discounts on bank products, exclusive ladies lounges, free Internet and mobile banking.

Some fear that the women’s only branch in Dubai will increase gender segregation in the Persian gulf, but this fear is mostly unsubstantiated. Banks should focus more on their various target groups and female customers are a target group that has thus far been largely ignored in the banking world. If anything, giving women financial liberty by offering them services tailored to their needs should be applauded.

Credit Suisse, one of London’s major banks, has implemented a new private banking service targeted specifically at homosexuals.

Just launched this summer, Credit Suisse’s new service is provided by advisors at the bank who are openly gay themselves and includes not just traditional private banking services but also components tailored to such events as adoption and civil partnership.

Mr Connolly, head of the Credit Suisse service (38), explains: “Clients with us have no need to explain their lifestyles or – as we know happens in some cases -almost feel the need to justify the way they choose to live their lives.”

With earnings of £81bn last year, Britain’s gay and lesbian community could provide a lucrative client list for Credit Suisse. Britain’s average gay man earned well above the national male average of £25,896 last year, typically taking home £31,099, according to the Office for National Statistics.

As points out, the majority have no school fees to contend with, freeing up much of their short-term finances and allowing for greater risk taking and earlier retirements.

According to The Telegraph nearly one in nine employees in London’s banking, finance and insurance sector is gay.

Read the complete article in The Daily Telegraph

As Seth Godin has often said, marketing is not simply a banner advertisement or billboard touting the newest, most improved washing up liquid or fabric softener. It is the spread of an idea. And ideas, just as banking products or services, are embraced and spread most effectively when they resonate with the audience’s beliefs, self image and values. That is, they fit within their worldview.

How can you make them fit within their worldview? The answer is to work with consumer or customer insights. An insight is a statement, which expresses a consumer’s frustration, an unmet need or desire.

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Published: FD january 7th 2009

Hedgefunds – partly pointed to as one of the causes of the present financial crisis – have a new future. At least that is the opinion of an ex Goldman Sachs / Fortis banker. He thinks it is possible helping to start appr. 20 new funds this year. His new company facilitates beginning fundmanagers in structuring their funds, bookkeeping, riskmanagement and fundraising.

Published: FD january 6th 2009

Insurer DSW together with some other parties takes over the Vlietland Hospital in Schiedam. The parties together will be the full 100% owner of the hospital.  The cooperation is meant to be a step forward in innovation and increase of customer quality in regional healthcare.

This is the first time a hospital is cooperatively owned; and also the first time an insurer is (partly) owner of an hospital. In the past years various other hospitals were looking for capital and funds to make necessary investments possible. It seems to be a new trend.

CEO Gerrit-Jan van Zoelen: “We explicitly have chosen for cooperation in regional healthcare to improve our services. It is very important to give this hospital regional roots.”

The complete article: http://www.fd.nl/artikel/10803656/verzekeraar-ziekenhuis