Speed to market
Article Abstract:
Citigroup has been no exception to the profound revolution being wrought by the advent of electronic commerce. The financial services firm's Exec VP Edward D. Horowitz is leading its charge into electronic commerce and is rushing to develop an Internet-based business model that may irrevocably transform a traditionally low-profile company previously known for its isolationist tendencies. Horowitz appears to espouse a highly visible approach to business and often gives talks at industry conferences to promote the strategy of his e-Citi unit. The executive believes that electronic banking has the potential to dramatically decrease the banking industry's historically elevated cost structure and his espousal of corporate strategic alliances and partnerships appears to be the initial step towards adopting the e-commerce business model.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1999
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Convergence or collision?
Article Abstract:
Conseco CEO Stephen C. Hilbert has taken up the challenge of cross-selling his company's insurance products and the financial services of Conseco's recent acquisition, Green Tree Financial Corp. Hilbert believes that both companies have similar customer demographics which would make cross-selling possible. About 70% of their customers are over 40 with annual incomes ranging from $25,000 and $75,000. Cross-selling is also in line with Hilbert's goal to turn Conseco into a one-stop-shop for financial services. However, Hilbert's plan has suffered a number of setbacks. One is consumers' reluctance to buy all their financial services from a single provider. Another is Conseco's referrals-based system which gives customers sufficient time to change their minds about purchases.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1999
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Preserving the legacy
Article Abstract:
Mellon Bank Corp. chmn and CEO Frank V. Cahouet has played a major role in transforming the company from near bankruptcy to become the largest bank retailer of mutual funds. However, Cahouet's scheduled retirement at the end of 1998 raises various speculations regarding succession and the future of the company. These include problems regarding the selection of a new chief executive and possible takeover proposals from other firms such as First Union Corp. Analysts think that the successor should be familiar with the firm's niche businesses and share Cahouet's beliefs regarding financial services in the future. Potential successors include W. Keith Smith, Christopher M. Condron and Steven G. Elliott.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1997
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