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Financial Services

As a global leader in strategic consulting, McKinsey's Financial Services helps its clients achieve substantial, positive, and sustainable impact in our clients' performance. The practice serves a broad spectrum of clients in traditional and non-traditional financial industries, including commercial banks, investment banks, brokerage and securities firms, property and casualty insurers, life insurers, asset managers, consumer finance companies, credit card companies, and other diversified financial institutions. We work with our clients on the critical challenges they face today: strategic innovation, growth and industry consolidation, risk and regulation management, operational efficiency, and talent management.

Our practice has the most extensive industry and functional knowledge base of any of our competitors. With over 800 financial services experts working in nearly 50 countries, our scale and scope give us an unprecedented advantage to bring targeted geographic, functional, and industry knowledge to each consulting relationship.

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Featured in Financial Services
Identifying the savings opportunities at investment banks
The McKinsey Quarterly, August 2008
US investment banks are cutting costs by shrinking employment, but they can trim other types of spending without causing serious damage to their culture or morale.
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How US banks can attract middle-market customers
The McKinsey Quarterly, August 2008
Middle-market customers do tend to resist the hassle of forming new banking relationships. But banks that offer them the right products at the right time can change their minds.
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Adapting lean for customized bank processes
The McKinsey Quarterly, August 2008
Even steps that require customization and expert judgement can be streamlined effectively.
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Redefining defined contribution
The looming retirement of the biggest demographic wave in our nation's history is triggering massive changes in the defined contribution (DC) market. McKinsey research shows the size of this market is likely to reach roughly $7.5 trillion to $8.5 trillion in assets under management by 2015. Beneath this robust growth, more fundamental changes will take place. The DC market will transform from an asset accumulation and record-keeping business to a broad platform for providing the products and services participants need to ensure lifetime retirement savings and security. Senior executives need not fear this transformation but do need to act now to be sure their firms capture a fair share of future market growth.
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Winning the retirement race
McKinsey recently surveyed more than 3,600 people across the country, asking them about their plans, concerns, and patterns of interaction with financial firms and advisers. Then we conducted in-depth interviews with 30 respondents to understand their attitudes in more detail. The result: a truly comprehensive picture of the retirement market from the consumer's perspective.
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Card marketing: Making the leap to online
America's credit card companies have perfected the art and science of direct-mail marketing. But the public has found a new place to receive offers and seek out information: the Internet.
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Coping with the credit crunch: Opportunities for corporate banking in Europe
Continuing turmoil in global capital markets after the credit crunch of mid-2007 has clouded the short-term outlook, especially in investment banking. We believe, however, that corporate banking in Europe will benefit from several profitable growth areas over the next 18 months and that shrewd players should position themselves accordingly.
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