ITOT - CASE 1 (Hunting Seasons by Matt Miller) -page 14

The case of the Forbes magazine that I read that relate with the innovation and transformation of the organization is the Hunting Seasons in page “14” by Matt Miller. The case is describing the plum target of the Sarasin’s ENID YIP in Hong Kong and other private bankers. How she use the method for successful in the wealth management industry on the area of economy bubble? How she show her leadership for successful. The case is related with the four core element in the innovation and transformation for the organization that are outcome, people, method and context.

In my opinion, the context for this case is focus on the economy bubble happen in recent year. When the economy bubbles happen, most of the wealthy people stung by the big investments losses and seeking for new adviser (private banker) for help them invest. This incident make the many private banker are suffering unprecedented losses and faces uncertain futures. According to the ENID Yip, chief executive of Asia operations at Bank Sarasin & Co, say that “I’ve seen a lot of private bankers turn into samurai brokers” and “Clients are fleeing to security, and there’s an increase the appreciation of quality advices”. The situation introduce by the Bank Sarasin is in the rising market, client are chasing performance, while in the downward market, client are chasing protection.

Most of the bigger bank is losing billion dollars when the bubble economy. This is because most of the wealth management clients move their money out. According to the situation mention above, they introduce the new method for improve the quality of the adviser and protect the customer when they invest. The private banker need spend a lot of time for explain the portfolios to the customer and attractive the customer invest in the bank. Furthermore, private banker need take a long time to rebuild the customer trust about the investments.

Another method the bank using is the executives selling their own investment product rather than picking among the best one on the market. The bank sell the own product to their private bankers. The yip saying that the private bankers are forgot the core value to preserve the client’s family wealth. The numbers of the yip’s customer is increase twice after she model want to rump up the business modest in the Asia.

The outcome earn by the bank is they getting the client around the world after publish the method of expended the wealth-management operation around the world and cooperation between the bank. The people of the bank will cooperation for handle the problem of losing investment. Yip also shown her leadership for brings the Bank Sarasin as the top of the bank in Asia.