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James Darroch & Pat Meredith on transforming Canada’s banks for the information age [Nov. 15/17]

Rotman School of Management, University of Toronto, 105 St. George Street, Toronto (Desautels Hall, Second floor, South Building)

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

Event Details

Speaker Series

Date:  Wednesday November 15, 2017 | presentation 5:00 PM – 6:00 PM

Speaker(s):  

James Darroch, CIT Chair in Financial Services, Schulich School of Business, York University, Co-Director, Hennick Centre for Business and Law of Osgoode Hall Law School & Schulich School of Business, York University; Co-Author

Pat Meredith, Executive in Residence and Fellow – Clarkson Centre for Business Ethics and Board Effectiveness, Rotman School of Management, University of Toronto; former Executive Vice President – Corporate Strategy, CIBC; Co-Author

Topic:  “Stumbling Giants: Transforming Canada’s Banks for the Information Age” (Rotman-UTP Publishing, Nov. 15, 2017)

Venue:  Desautels Hall (Second floor, South Building) Rotman School of Management, U of Toronto, 105 St George Street | map

Cost:  $34.95 plus HST per person (includes 1 copy of “Stumbling Giants” and 1 seat at the session)

 

BOOK SYNOPSIS: 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, Pat Meredith and James 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.

SESSION HOST: Clarkson Centre for Business Ethics and Board Effectiveness at Rotman

QUESTIONSevents@rotman.utoronto.ca, Megan Murphy, (416) 978-6122

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