The Royal Bank of Canada (RBC) is a blue-chip financial services company, and the largest of its kind in Canada. The bank is considered a blue-chip company due to its relative low-risk as an investment. With over 16 million public and private clients in over 35 countries, the bank has a secure international financial holding. They serve a wide fiscal demographic; with wealth management services for investments and high net worth clients in North America, and general personal/commercial banking services available for the general market ("Royal Bank of Canada"). As well as being an internationally recognized brand, RBC has weathered extreme economic strain, for example, during the crash of the American housing bubble in 2008 RBC boasted a 9 month high in their stocks ("Corporate Profile"). This evidence indicates a history of financial security and future stability. The Royal Bank of Canada is Canada’s largest bank by market capitalization and the 18th largest globally. They offer financial services to both the private and public sectors, acting as an investor for small businesses and in the retail industry for individual consumers. The bank …show more content…
Ford responds to such waves in the economy as they supply discretionary items to consumers (cars), something people are willing to forfeit in economic deficit given urban transit. Unfortunately this means these stocks are the first to be dropped in the case of recession, and may be entirely dropped; bankrupting a company or industry. There is evidence of such a consumer cut in the 2008 global recession, Ford’s stock fell to its lowest since 1981 ($ 1.43 USD) in November of 2008. Further economic fluctuations are evident in the company's stock history, when the US GDP rose above 5.0 in 1999 ("Company Profile"), Ford’s stock hit its all-time high of $37.14 USD and has followed the American economy ever since
Rogers Communications Inc. is one of the largest communication and media companies in Canada. Rogers group of companies included Wireless, Cable, Business Solutions and Media. They are the country’s only national carrier of the world’s standard GSM/HSPA+LTE technology as Canada’s largest wireless voice and data telecommunications service provider. They are also one of the leading cable service, television and Internet providers.
JP Morgan being the colossal financial entity that it is, has been deep rooted into the American economy and its lifestyle. Even though the same can be
The Bank administers the nation’s currency, protects its value, and acts as the government's and chartered banks' official banker. The Bank of Canada's most important function is to set monetary policies that will promote a healthy economy. This is accomplished primarily through taking steps to raise and lower interest rates.
Bank of America is the company I elected to discuss their unique benefits package. Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
RBC Financial Group uses a customer relationship management (CRM) strategy that provides a variety of services for a variety of clients. The strategy allows for individual customers to trust RBC and develop a personal relationship with each and every client. One major factor that allows CRM to operate effectively is the use of technologies and analytics to help classify each client’s financial situation. These customer profitability-based techniques allowed RBC to categorize their clients into A, B, and C groups so that the sales teams could optimize their efforts in catering to these different clients. This strategy holds the following strengths: optimizing sales efforts to different customers, easily accessible electronic sales leads, centralized and standardized financial decisions, and building personalized and sustainable customer relationships. There are a few weaknesses to the system though including the complexity in predicting future positions of companies despite the use of analytics as well as the complexity in creating consistency when using these
The 2008 crash in the U.S. Housing market associated with subprime mortgage and Merry Lynch losses, Bank of America accepted a $20 billion government bailout with the intention of stabilizing the financial marjets (Gupta & Herman, 2012). Band of America later repaid that amount with interests. In 2010, according to Forbes, Bank of America was the world’s third largest company after JP Morgan Chase and General Electric. In 201, however, Bank of America began conducting personnel reductions of an estimated 36,000 people, contributing to intended savings of $5 billion per year by 2014 (Bank of America Ending 30K more jobs, 2011). As for ownership, Bank of America is a publicly traded company listed under BAC in the New York Stock Exchange (NYSE)
HSBC is a public limited company (plc) in the financial sector of the banking industry. Considered one of the most successful banks in the world, the British Multinational Banking and Services Company operates in over 90 countries worldwide. The main headquarters of HSBC are located in London but the company boasts nearly 8,000 offices, serving over 60 million customers. HSBC’s services are divided into four main groups of global business; Commercial Banking, Private Banking, Retail Banking and Wealth Management, and Banking and Markets (investment banking), along with the issuing of loans, debit, and credit cards to its customers.
The Bank of Canada is Canada’s central bank, whose current Governor is Mike Carney. It was founded in 1934 by the Bank of Canada Act of the same year. The country’s banking system was quite stable even before the Bank of Canada was established, mainly thanks to its branch banking structure, and showed little interest in central banking in the early 1900s. In addition, the banking system was somewhat being regulated by the Canadians Bankers’ Association. However, as the Great Depression took Canada by storm, talks about its then financial state were brewing. Some even questioned the country’s ability to meet larger demands. The central bank was formed from the Act in 1934, and starting running in 1935, but as a privately owned institution. Then, when William Mackenzie King was re-elected as Prime Minister after a full term by Richard Bennet, the new government made an amendment to the Bank of Canada Act, making the bank publicly owned by 1938, as it is today (Bank of Canada: History). Its primary objective was to be able to support financial and economic wellbeing of our country (Go Currency: Bank of Canada). In that way, it has many roles and functions as a central bank, which I will expand in the coming paragraphs.
Many economic factors exist that impact the development of Ford Motor Company's strategic plan and it’s no small task to project how some of these factors might change as the strategy is being realized. Consider the prospect of expansion into a new market like China or Mexico. Economic changes like currency devaluation will make Ford’s product more expensive to their target market potentially reducing overall sales revenue. Oil prices as we’ve seen in the U.S. economy can also play a big factor as large vehicles become less desirable and more fuel efficient compact cars gain market share.
Introduction Pramuka Savings and Development Bank (PSDB) was incorporated in 1997 as the first private savings bank in Sri Lanka. Mr. Rohan Perera was the founder of Pramuka Bank and was the founder and chief executive officer of Seylan Bank previously. After resigning from Seylan Bank, Mr. Perera applied for license to incorporate a commercial bank from Central Bank Sri Lanka. But Central Bank only gave license to operate a Savings and Development Bank. But that was also a debatable topic.
Standard Chartered Bank support flexible working hours. It is because energy efficiency and productivity can be increased by flexible working hours and it usually cause the higher employee morale and enthusiasm. But managing an employee who has a flexible working hours can be challenging according to the finding part above. First of all, Standard Chartered Bank should analysing the advantage and costs of the flex time program to decide whether flex time is viable for your business. If it is viable, evaluate the type of flex time and planning a best and suitable plan for your business. Second, determine which level of employee are most conducive to flex time program, and document the reasons to prove that they determine with
During this great recession, a lot happened in a very short period of time. The stock
In this case study it was stated that there were a problem happen in the outsourcing for the Royal Bank of Scotland. What happen was there were an error that happen during the routine software upgrade that cause million of that bank customer cant access to their account. The error happen when one junior technician in India was accidently wiped all the information during the routine software upgrade. The member of staff that was working under the program for the Royal Bank of Scotland, NatWest and Ulster Bank and it was based in Hyderabad, India.
In the post-colonial context , there is a desire to change the current currency system to improve the management of money and credit ; and to foster a favorable climate for the development of domestic enterprises in which the World Bank proposed the establishment of the National bank of each country . A National bank is seen as a tool of control of financial freedom , which no political independence would not be complete . Therefore, Sir Sydney Caine , former Vice Chancellor of University of Malaya , and Mr. GM Watson , an executive of the Bank of England , has been appointed to carry out a detailed investigation on problems of central banking and to provide advice on the establishment of a center in Malaya , including law rules.
HSBC bank which is called Hong Kong and Shanghai Banking Corporation, was founded in 1865 and opened in 1877. It is also the largest bank in the world pertinent to assets and ranks sixth in the world’s largest public company in 2012. As one of the leading banks in the world, with around 89 million customers served with various products and loans such as personal loans, house loans, corporations loans, wealth management, investments, insurance and deposits. Some of the interesting facts are that HSBC bank has won several awards during 2011 which includes the best corporate internet banking in Singapore, rank second place in the Forbes Global 2k world’s biggest companies. It is ranks first in the Brand Finance Banking 500 in year 2012.