Dangerous Markets (PDF)

Preface. Why Manage Financial Crises Proactively? Why We Wrote Dangerous Markets. Acknowledgments. CHAPTER 1: Introduction to Dangerous Markets. Financial Storms Are Destabilizing. Financial Crises Can Be Understood, Anticipated, Managed, and Prevented. What This Book Is and Is Not. Who Needs to Read Dangerous Markets? Part I: Understanding Financial Crises. Part II: Earning the Right to Win. Part III: Managing Unique Banking Risks. Part IV: Building for the Future. PART I: Understanding Financial Crises. CHAPTER 2: Recognizing New Global Market Realities. Increasing Risk of Financial Crises. Why Financial Crises Are on the Rise. You Can Run, But You Can't Hide From Crises. Looking Ahead. CHAPTER 3: Using Crisis Dynamics to See Growing Risks. The Chronology of a Crisis. The Dynamics of a Financial Crisis. The Corporate Sector: Assessing Value Destruction. The Financial Sector: Banks in Distress. Understanding the Impact of Macroeconomic Catalysts, Foreign Funding, and Asset Bubbles. Conclusions and Outlook for Future Crises. Appendix 3.1: Ten Warning Signs of a Financial Crisis. Appendix 3.2: Estimating Value Destruction in the Economy. Appendix 3.3: Why Corporate Sectors Underperform in Crisis Economies. PART II: Earning the Right to Win. CHAPTER 4: Managing the First Hundred Days. Taking Five Tactical Steps When a Crisis Hits. Developing a Crisis Management Approach. Managing the CEO Agenda. Appendix 4.1: Painting the Picture of a Financial Crisis. Appendix 4.2: How Companies Can Strengthen Funding Before a Crisis. Appendix 4.3: Using Scenario Planning in Financial Crises. CHAPTER 5: Capturing Strategic Opportunities After the Storm. Recognizing Significant Opportunities in a Crisis. Moving from Boundaries to Greater Degrees of Freedom. Executing Successfully to Capture Crisis Opportunities. Appendix 5.1: Leveraging Strategic Opportunities in Financial Crises: The Successful Story of NCNB. PART III: Managing Unique Banking Risks. CHAPTER 6: Driving Successful Bank

DOMINIC BARTON is a director with McKinsey & Company andmanaging partner of the Firm's Korea practice. He also is a leaderin the Firm's financial institutions practice. Barton has advisedthe Korean Financial Supervisory Commission on restructuring theirbanking system as well as strategized with the Monetary Authorityof Singapore. He led a major McKinsey study on how to transformcompanies into sustainably high performers and has led numerousstudies for private and public sector clients in the financialsector. He holds an M. Phil. in economics from Oxford University,where he was a Rhodes Scholar, and a BA in economics from theUniversity of British Columbia.

ROBERTO NEWELL is a former director at McKinsey & Company wherehe led projects for governments and private sector clients infinancial crisis. Dr. Newell has served clients immersed infinancial crises throughout the Americas, including Argentina,Colombia, Ecuador, Mexico, the United States, and Venezuela. Heholds a BA and MA from the Universidad de las Americas in Mexicoand a PhD in economics from the University of Texas at Austin. AMexican citizen, he is currently CEO of FESSA (Fondo de lasEmpresas Expropiadas del Sector Azucarero), a Mexican governmententity charged with turning around and privatizing twenty-sevenfailed sugar mills. With Luis Rubio Frieberg, Newell wrote anaward-winning book on Mexico's financial crisis of the 1980s,entitled Mexico's Dilemma: The Political Origins of EconomicCrisis.

GREGORY WILSON is a principal in McKinsey & Company'sWashington, D.C. office, specializing in strategic issues thataffect private and public sector clients in the financial servicesindustry. Wilson has worked on financial sector restructuringaround the world, including many recent crisis countries in Asiaand South America, and has conducted numerous client studies onpolicy, strategic, regulatory, and structural issues. He holds a BAin history, and politics and government from Ohio WesleyanUniversity. From

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