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Case Studies
Retail Strategy Development for a Major UK Retail Bank
We led a successful Board level initiative to more than double the intrinsic value of the Bank’s core retail business. Reporting to a steering committee including the Chief Executive, the Finance Director and 3 key business unit managing directors we assembled a joint team consisting of external consultants and client managers to develop the fact base, understand and prioritise the key issues, develop high potential strategic alternatives and, ultimately, determine the value maximising strategy for the Bank’s core retail business. Having developed a fact-based view of the Bank’s strategic / competitive position using both internal and external information sources, we generated insights that fundamentally shifted our client’s view of its key markets. The broad based review identified issues with product participation and mix, customer focus, pricing, organisational structure, management and salesforce incentives and operations. Having developed a grounded assessment of the value of the business under various market and competitive scenarios we evaluated the strategic alternatives to address the highest priority issues.

A number of strategies including both organic and acquisitive alternatives, offered substantial value upside. We were able to build consensus around a strategy which would more than double the value of the business over 3 years yet maintain flexibility to adapt to significant uncertainty in key markets and to exploit opportunities to achieve the benefits of scale through further acquisition. Together with key executive and line managers, we worked to develop the strategy into an implementation plan. This included detailed investment requirements, performance targets (both strategic and financial), accountabilities and milestones. This was then detailed in the annual budgeting process setting detailed targets for the following year. Finally a management agenda of high priority issues was developed to maintain focus on those outstanding strategic, operational and organisational issues which could not be resolved in the course of the Assignment.