Stumbling Giants: Transforming Canada's Banks for the Information Age

Category: Book
By (author): Darroch, James L.
By (author): Meredith, Patricia
Series: Rotman-utp Publishing
Subject:  BUSINESS & ECONOMICS / Finance / General
  BUSINESS & ECONOMICS / General
  BUSINESS & ECONOMICS / Strategic Planning
Audience: college/higher education
Awards: <P>2018 Donner Prize</P> (2018) Short-listed
Publisher: University of Toronto Press, Scholarly Publishing Division
Published: November 2017
Format: Book-hardcover
Pages: 256
Size: 9.00in x 6.00in x 1.00in
Our Price:
$ 48.95
Availability:
Available: 3-5 days

Additional Notes

From The Publisher*

Canada's big six banks weathered the 2008 financial crisis very well. Their adherence to tried and tested twentieth-century products and services made them a safe harbour in the financial storm. However, as the modern global information economy continues to develop, the banks must confront their innovation crisis, or they will fail.

In Stumbling Giants, Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada's big banks. With banks earning forty percent return on equity from traditional retail banking, pressure from investors with short term interests has discouraged technological innovation and adaptation. Meredith and Darroch reveal the socio-technological disruptors threatening the banks' three primary product divisions- lending, wealth management, and payments- and offer innovative yet realistic recommendations for improvement. Meredith and Darroch's new vision for the Canadian banking industry involves a broad cross-section of Canadians- policy makers, regulators, customers, suppliers, investors, and bankers- and is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century.

From The Publisher*

In Stumbling Giants, Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada's big banks. Meredith and Darroch's new vision for the Canadian banking industry is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century.

Biographical NoteJames L. Darrochis an Associate Professor of Strategic Management and and the CIT Chair in Financial Services, Schulich School of Business, York University. His research focuses upon strategic management with an emphasis on governance and enterprise risk management in financial services firms.
In 1997, he joined the working group for the Toronto International Centre for Financial Sector Supervision (Toronto Center). From 2002 to 2006 he was Co-Program Director for the Risk Management Curriculum at the Bank of Montreal. He is currently Director of the Financial Services Program, and co-director of the Masters Certificate in Financial Services Leadership and the Professional Banking Program offered by the Schulich Executive Education Centre.
Representative of his current research focus is: "The Limits of Strategic Rationality: Ethics, Risk Management, and Governance," Journal of Business Ethics, 92:3 (2010) (with David Weitzner).