Poised to grow

Article Abstract:

Fifth Third Bancorp is one of the best performing banks in the financial services sector. It boasted of $21.4 billion worth of assets by the end of 1997 and was the 35th largest banking companies although it actually ranked 22nd in terms of market capitalization. Fifth Third CEO and Chmn George Schaefer Jr does not actively take advantage of these strengths and focuses his energies instead on a little segment of the Midwest market and engages in small deals only. Nevertheless, the bank is increasingly turning its attention to takeovers. It just closed its biggest acquisitions ever in early 1998, in particular two thrifts with a combined assets of $6 billion. Still, daily execution and active cost control remain the focus of Schaefer's management approach.

Bank holding companies, State commercial banks, State Banks, Fifth Third Bancorp., FITB, Schaefer, George A., Jr.

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Coming on strong

Article Abstract:

Charles Schwab Corp initially established itself by building on the discount brokerage business but is now proving to be a major competition for banks and insurers. It is taking advantage of the trend of commoditization in financial products by cultivating strong competencies in marketing and product delivery, allowing it to edge out manufacturers. One banker comments that the company's ability to adjust to shifts in technology, consumer demands and regulation to allow customers to easily access financial services is a primary asset of Charles Schwab. The success of the company should serve as a reminder to other financial services organizations that strategists need not resort to mergers just to succeed in the market.

Financial services, Charles Schwab Corp., SCH

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Rules of the game

Article Abstract:

A debate on customer privacy in Congress has been triggered by Minnesota's attorney general's threat to sue US Bancorp for alleged selling of customer data to a telemarketer. The heated discussion implicated financial services companies who are into e-commerce and online banking since customer information is beneficial for their targeted marketing offers. Online bankers fear what has been imposed in the Atlantic by the European Union which prohibits sharing of personal information between companies. Top cyber-bankers asserted that the self-policing approach in safeguarding customer privacy is still the most effective. They also said that clear guidelines must be developed by cyber-bankers.

Commercial Banks, Other Justice, Public Order, and Safety Activities, Privacy, Laws, regulations and rules, Online services, Internet services, Beliefs, opinions and attitudes, Panel Discussion, Bankers

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