McKinsey & Company | Global news | Banking

An overview of McKinsey & Company global news:

United Arab Emirates

Emirates NBD partners with McKinsey to drive AI and advanced analytics A few years ago, Dubai’s government-owned bank Emirates NBD entered into a partnership with strategy consulting firm McKinsey & Company with the aim of turning the bank into a leader in artificial in
18 November 2024
Middle East

The road ahead for banks in the GCC region: 7 priorities GCC banks are currently in strong shape, and have over outperformed their global counterparts over the past several years.
05 August 2024
Middle East

McKinsey: GCC banks outperform their global counterparts Over the past years, GCC banks have outperformed their global counterparts and looking ahead, the region’s banking sector is in a good position to continue its growth, according to analysis by McKins
17 July 2024
Middle East

How banks can set themselves up for a profitable future Alberto Alvarez, Senior Partner with McKinsey & Company based in the Middle East, outlines five strategies that could help the region’s banks maintain a competitive edge and build a profitable future
13 January 2024
United Kingdom

Banks enjoying highest profits since 2008 global financial crisis Banks worldwide are currently enjoying a record profit windfall – the highest seen since the 2008 global financial crisis, according to analysis by McKinsey & Company.
16 October 2023
Middle East

Emirates NBD looks to leverage the power of generative AI Emirates NBD, a leading bank in the MENA region, has announced a roadmap to adopt generative artificial intelligence (AI) tools.
04 September 2023
United States

McKinsey scolded by regulators for weak consulting work at Silicon Valley Bank The US Federal Reserve’s 102-page post-mortem report on Silicon Valley Bank (SVB) criticized McKinsey & Company for consulting work it performed for the now defunct bank in 2020 and 2021.
12 June 2023
United Kingdom

Former McKinsey boss Kevin Sneader joins Goldman Sachs The former Global Managing Partner of McKinsey & Company has been tapped to co-lead the Asia Pacific wing of Goldman Sachs. The move sees Kevin Sneader relocate to Hong Kong.
17 September 2021
United Kingdom

Covid-19 aftermath could wipe off $4.7 trillion from banking sector The global banking sector faces a multi-trillion stress-test in the coming three years, according to a new review of the industry by consulting giant McKinsey & Company.
13 January 2021
Asia

Southeast Asia banks in better position than peers, says McKinsey Despite challenges, banks in Southeast Asia are poised to recover from the Covid-19 crisis faster than their counterparts around the world.
12 January 2021
United States

Global banking industry could lose up to $4 trillion in revenues The next five years will pose unprecedented challenges to global banking, with heavy credit and revenue losses.
21 December 2020
United Kingdom

European FinTechs face 'existential threat' as funding dries up Despite years of hype declaring FinTech investment was set to experience some endless boom, the bubble looks set to burst amid the current recession.
12 October 2020
Switzerland

McKinsey advising UBS on potential Credit Suisse merger UBS Chairman Axel Weber is considering a mega merger with Credit Suisse some time next year, with consultants from McKinsey & Company brought on board to draw up a potential road map for the deal.
22 September 2020
United Kingdom

UBS calls in McKinsey to explore merger with Credit Suisse Swiss financial giant UBS has reportedly tapped consultants from McKinsey & Company to draw up plans for a mega-merger with rival wealth manager Credit Suisse.
22 September 2020
Canada

McKinsey Canada alumnus joins Australian bank in executive role National Australia Bank (NAB) has installed a former McKinsey & Company consultant at the head of its largest division.
21 August 2020
United Kingdom

McKinsey partner Chira Barua joins HSBC as Head of Strategy Chira Barua, a partner at McKinsey & Company, has joined HSBC as Group Head of Strategy.
02 June 2020
Germany

Commerzbank calls in consultants from McKinsey and Bain Ailing German bank Commerzbank has brought in consultants from McKinsey & Company to advise on an overhaul of its strategy, shortly after arch-rivals Bain & Company was also tapped to help the bank i
19 May 2020
United States

Citi names former McKinsey partner David Chubak head of US retail banking Citigroup has named David Chubak as its head of US retail banking. Chubak has held senior strategic roles at the bank since 2013, when he joined Citi from management consultancy McKinsey & Company.
21 January 2020
United Kingdom

McKinsey's Communications Director Steve John joins HSBC McKinsey & Company Partner Steve John will step down from his role leading the strategy consulting giant’s global communications efforts to join HSBC as the bank’s group Chief Communications Officer.
25 October 2019
France

SocGen taps consulting firms for strategic programmes French bank Société Générale (SocGen) has tapped Bain & Company and McKinsey & Company to support the firm’s leaders with two major strategic transformation programmes.
09 September 2019
Latin America

Why some Latin American banks outperform the rest of the world The fastest growing banks in Latin America are among the fastest growing in the world.
22 July 2019
Australia

Commonwealth Bank working with McKinsey on massive job cuts The Commonwealth Bank could be set to cut up to 10,000 jobs and around $2 billion in costs according to reports, with the bank working on the plan with McKinsey.
16 April 2019
Kenya

Daily transaction services of Kenyan banks face competition from Fintechs As the Kenyan economy becomes increasingly digitalised, big banks operating in the country are set to be challenged by up and coming Fintechs, primarily in the domain of daily transactions and commer
13 December 2018
United Kingdom

Global banking facing 'anaemic' revenues a decade on from financial crisis A new study has found that banking revenues across the world have collapsed since the global financial crisis, as industry growth is running at less than half the historical average.
15 November 2018
United Kingdom

Growing number of junior bankers switching to MBB consultancies An increasing number of junior banking professionals are considering shifting to the world’s largest strategy consultancies, according to a number of young professionals in both sectors.
07 September 2018
United States

McKinsey faces conflict of interest questions over retirement fund McKinsey & Company is under scrutiny after the Wall Street Journal uncovered evidence that its retirement fund held investments that may have created a conflict of interest in six bankruptcy cases in
22 June 2018
Africa

Africa's banking sector the second most profitable in the world, says McKinsey As the global banking sector continues to see sluggish growth since the financial crisis a decade ago, the prospects are much brighter for the banking sector in Africa, according to a new report from
05 March 2018
Hong Kong

Finastra selects McKinsey for Banking Center of Excellence in Hong Kong FinTech company Finastra has established a new Center of Excellence for the banking industry in Hong Kong. McKinsey & Company has been tapped as the knowledge and consultancy partner of the wing.
22 January 2018
Germany

Deutsche Bank asks McKinsey to help draft strategic plan Deutsche Bank has hired the management consultancy McKinsey to identify areas where the bank should spend its limited cash reserves to revive its ailing business.
21 December 2017
South Africa

Nedbank becomes third major creditor to cut ties with McKinsey Nedbank has become the latest in a line of major financial institutions in South Africa to disassociate itself from McKinsey & Company, following the infamous Gupta scandal that unfolded in the count
14 December 2017
South Africa

Standard Bank and Barclays Africa drop McKinsey following scandal In the latest chapter of the ongoing Gupta family saga in South Africa, both Barclays Africa (Absa) and Standard Bank have declared that they will no longer associate with McKinsey & Company, termina
01 November 2017
United Kingdom

McKinsey Senior Partner Tim Welsh joins US Bancorp Tim Welsh, has been handed the role of Vice Chairman of Consumer Banking Sales and Support at US Bank.
28 July 2017

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