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Wednesday, November 25, 2009
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volume 1
issue 2
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“I have been an independent full-time for only eight months, although I have been in consulting in one form or another for 20 years. If my experience remains as good as this one, being an a-connect IP could be the cornerstone of my career going forward.” —M.E.B., IP since 2005
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IP Book Review
David Maude: “Global Private Banking and Wealth Management: The New Realities”, Wiley Finance, September 2006
by Marcel Kucher
 Wealth management is currently one of the hottest areas in financial services and is therefore a core focus for a-connect. However, the market is changing fast and having a good overview of recent developments becomes ever more important, yet tricky. We are proud that one of our IPs, David Maude, recently published a book which provides an up-to-date, detailed, practical understanding of this exciting area of financial services. Packed with best-practice examples and perspectives on the opportunities ahead, highlights include: wealth management challenges, new and old; the changing client profile; new products, pricing and channels; competitor and business-model landscapes; external challenges and opportunities; future perspective; and wealth market analyses for 25 countries.
Early feedback has been very positive; here’s what one of Amazon’s customers had to say:
“Fantastic book. Genuinely global perspective and bang up-to-date. Includes difficult-to-get data on industry economics and benchmarks, a fascinating future perspective on industry growth, and incisive analysis of a vast range of surveys and reports that I (a financial services strategy veteran) never knew existed. Very clear and well written. Invaluable for helping our organization develop a wealth management strategy.”
We spoke with David and first asked him what was the most eye opening element while writing this book:
David: The big challenge for me was keeping on top of the latest developments in the wealth management industry. The market’s growing very fast, particularly in Asia and the Middle East, with players launching new initiatives all the time. The other big eye opener was the number of reports now available on the industry, albeit of varying quality, which I needed to track down. Back in 1995, when I wrote my first book on the industry, there was basically no published information available at all.
What do you think a reader will get out of the book?
David: The book offers three main things. First, it provides a thorough overview of the industry, which should be useful for training purposes and for the general reader. Second, it drills deep into the industry’s current challenges, provides some benchmark data and gives a perspective on future opportunities, which CEOs and senior management should enjoy. Third, I think wealthy clients themselves will benefit by being able to take a look behind the scenes and view some of the leading-edge developments within the industry.
What was the initial reaction to your book?
David: It’s been really positively received, particularly by industry participants.
Do you feel that publishing your thinking helps you in acquiring interesting projects?
David: A key motivation for writing the book was to use it as a marketing tool and door opener. It definitely enhances my credibility with clients. The book’s only just been published, but I’ve been surprised by the level of interest from all over the world, both from potential clients and otherconsultants seeking my advice. My diary is filling up fast!
For anyone involved in wealth management, we can only highly recommend reading this book.
About the Author
DAVID MAUDE is an independent consultant and member of the a-connect global talent group. A former consultant at McKinsey & Company, he serves financial institutions around the world, advising on their key strategic, organizational and operational issues. David has also worked in strategy for Barclays, and spent six years as a senior economist at the Bank of England and HM Treasury.
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