tag:blogger.com,1999:blog-235433516644980443.post3597370933620390202..comments2024-03-27T05:08:10.195-04:00Comments on Jeff For Banks: The coming consolidation wave... for bank consultants.Jeff Marsicohttp://www.blogger.com/profile/12153599647481141591noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-235433516644980443.post-48374385625716931982012-01-16T09:42:27.427-05:002012-01-16T09:42:27.427-05:00Hi there! I just would like to offer a huge thumbs...Hi there! I just would like to offer a huge thumbs up to the wonderful info you have got here with this post. I’ll be coming back to your weblog for much more shortly. <a href="http://www.momdoc.com/Locations/Power_Road.aspx" rel="nofollow">female obgyn</a>mikehttps://www.blogger.com/profile/06169812996432978423noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-37184866415099187792011-11-20T19:26:08.863-05:002011-11-20T19:26:08.863-05:00I had to consult a Portugese to English dictionary...I had to consult a Portugese to English dictionary for the above comment. I'm still a little unsure if consultoria rh agrees or disagrees with the post. But thanks for the comment!<br /><br />Eu tive que consulta um português ao dicionário inglês para o comentário acima. I' m ainda um pouco incerto se o rh do consultoria concorda ou discorda com o borne. Mas agradecimentos para o comentário!<br /><br />~ JeffJeff Marsicohttp://www.kafafiangroup.comnoreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-83752387067393325432011-11-17T12:58:41.493-05:002011-11-17T12:58:41.493-05:00Dallas,
I had this very discussion off-line with ...Dallas,<br /><br />I had this very discussion off-line with another consultant, opining that banks may look to take more services "off-payroll", such as the areas you mentioned in your comment.<br /><br />But I'm also sensing a trend that banks are trying to prune their list of vendors. Ironically, some consultants are advising them to do so. If this is a trend, it would benefit firms that have multiple lines of business, versus highly specialized shops, in my opinion. Something for us all to think about.<br /><br />Thanks for the comment.<br /><br />~ JeffJeff Marsicohttp://www.kafafiangroup.comnoreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-48976510305009388622011-11-17T12:38:07.711-05:002011-11-17T12:38:07.711-05:00Jeff - great post. A question, though...
While i...Jeff - great post. A question, though...<br /><br />While it is true that the number of banks (and therefore available clients) is shrinking, isn't it also true that banks are becoming increasingly reliant on consultants? This is especially true for community banks. Many pieces of their business have become vastly more complex and sophisticated over the last several years, including IT, marketing, credit risk, asset liability management, liquidity planning, strategic planning, payments, ATMs, phone systems, etc., etc.<br /><br />I find banks turning to consultants for help (or complete outsourcing) in many of these areas, and the trend seems to be for that to continue.<br /><br />Do you think new consulting firms will spring up around these needs, or do you think that these consolidated firms will adopt more of a "one stop shop" kind of approach?Dallas Wellshttp://assetmanagementgroup.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-39880288620828008332011-11-17T11:20:22.463-05:002011-11-17T11:20:22.463-05:00Good points Serge. I would add one other: The head...Good points Serge. I would add one other: The heads of consulting firms are generally good rain makers, maybe even good consultants, but are often not very good leaders or managers. These skills and attributes elevate in importance as the firm grows.<br /><br />Your second point, regarding consultants "renting" themselves is also true. The solution: elevate your brand beyond the individual. The most august consulting firms, BCG, Bain, McKinsey, elevated themselves above the value of any individual consultant, although their roots started with a single personality.<br /><br />~ JeffJeff Marsicohttp://www.kafafiangroup.comnoreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-37734992860488747892011-11-17T10:18:32.857-05:002011-11-17T10:18:32.857-05:00Interesting... My experience is that most consulti...Interesting... My experience is that most consulting firm mergers fail... there are a few simple reasons for this. You mentioned one - culture clash, which is inevitable. Second - the biggest assets consulting firms own is Consultants themselves, and this asset has feet. As you indicated, Community Banks and Credit Unions tend to select consultants based on the reputation of the consultant, thus the lead partner / consultant "rents" his relationship to the firm. If he/she leaves, his/her relationships will typically follow.<br /><br />But your point is very appropriate - fewer clients require broader geographic coverage and deeper service offering (gee... almost sounds like the situation that Community Banks face!?). We'll keep our fingers crossed for more exceptionally successful mergers of consulting firms that generate the promised '1+1=3'.Serge Milman | OptiRatehttp://www.optirate.com/Banksnoreply@blogger.com