Transcription of EY white paper July 2017 - United States
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EY white paper July 2017 - United States
EY white paper july 2017 . The allocation game Managing cost before money is spent F Foreword The financial services industry has cut billions of dollars in expenses, and many banks have sought to optimize their business mix in order to increase return on capital or to resolve issues identified in the aftermath of the 2008 financial crisis. During late 2016 and early 2017 banks have seen increases in interest rates and client flows, which have boosted their earnings and, given the anticipated rate-hikes, further growth opportunities are expected. Myopic cost cuts are the cost cutting initiatives that while delivering on short-term reduction targets, typically present three challenges: difficulties in tracking the estimated reductions back to the bottom line, inability to retain the cost savings over long periods of time and the prevention of the recurrence of these same costs upon an increase of business volumes.
The allocation game Managing cost before money is spent EY white paper July 2017
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