Very Important Final Paper-7pages

PROFESSIONAL  SERVICES

9.1  INTS  2370

Financial  Services

• Concentration  and  consolidation • Market  saturation • Disintermediation   • Deregulation  and  reregulation • Internationalization • ‘Casino  capitalism’

Role  of  Information

• Electronic  communications • Securitization  and  derivatives • Risk  becomes  delocalized  and  outsourced • Global  24-­‐hour  trading • instantaneous  financial  transactions  worldwide • Still  requires  direct  presence  within  markets

Regulation  and  Deregulation

• Trend  to  increasing  deregulation  until  2008  crisis • Deregulatory  pressures • Historically  the  most  tightly  regulated  industry • Regulations:  restrictions  on  activities  and  barriers  to  entry • Reintervention of  the  state  post-­‐2008

Geographies  of  ABS Deterritorialization of  ABS? • Geography  is  increasingly  relevant

Role  of  the  Global  City • Attractions  of  the  global  city • Barriers  to  entry  for  rivals

Decentralization  of  ABS • ‘Back-­‐office’  functions  decentralized  and  offshored

Disrupting  Professional  Services

• Focus  on  the  ‘white  shoe’  consultancies • Historically  strategy-­‐focused  and  bespoke  solutions • New  competitors  (incl.  in-­‐house),  new  service  offerings • Data  democratization • Shift  from  per  diem  to  value-­‐based  billing  and  asset-­‐based   consulting

• Increasing  use  of  software,  analytics,  modular  solutions,  contract   consultants,  and  offshoring

• Consolidation,  competition,  blurring  of  service  lines,  rise  of  tech…   and  yet  protection  and  opacity  continue