Joerg Ruetschi - Transforming Financial Institutions: Value Creation through Technology Innovation and Operational Change

1. Introduction
2. Chapter 1
3. Chapter 2
4. Chapter 3
5. Chapter 4
6. Chapter 5
7. Chapter 6

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JOERG RUETSCHI

This edition first published 2022
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Library of Congress Cataloging-in-Publication Data

Names: Ruetschi, Joerg, author.

Title: Transforming financial institutions : value creation through technology innovation and operational change / Joerg Ruetschi.

Description: First edition. | Hoboken, NJ : Wiley, 2022. | Series: Wiley finance series | Includes bibliographical references and index.

Identifiers: LCCN 2021043867 (print) | LCCN 2021043868 (ebook) | ISBN 9781119858836 (paperback) | ISBN 9781119858843 (adobe pdf) | ISBN 9781119858850 (epub)

Subjects: LCSH: Decision making. | Strategic planning. | Problem solving. | Financial institutionsManagement. | Information technologyManagement.

Classification: LCC HD30.23 .R84 2022 (print) | LCC HD30.23 (ebook) | DDC 658.4/03dc23

LC record available at https://lccn.loc.gov/2021043867

LC ebook record available at https://lccn.loc.gov/2021043868

Cover Design: Wiley

Cover Image: oxygen/Getty Images

To Parissa and Leila, the true loves of my life.

Dr Joerg Ruetschi specialises in turnaround and value creation at the intersection of finance and technology. He has been working with financial institutions, technology companies, and private equity as well as venture capital firms on special and entrepreneurial situations for almost 20 years. Joerg's core professional interests have been in building, growing, and transforming businesses through delivering comprehensive endtoend solutions from strategy through execution.

Originally trained in investments and quantitative analysis, Joerg gained early experience in risk management and capital markets during his academic studies, which led to a PhD in Finance in 2005. He spent 10 years in investment banking at Goldman Sachs and alternative investments at StepStone Global with focus on assetliability management and asset restructuring. He joined Booz & Company (now Strategy& as part of the PwC network) in 2013 to lead the advisory proposition for bank restructuring and the broader transformation agenda of financial institutions. After the merger of Booz & Company with PwC, Joerg operated on its Deal Advisory platform with focus on operational restructuring and merger and acquisition (M&A) in financial services. He set up his own independent platform, Evolve Enterprise Solutions (EES), in 2019 to fully focus on emerging technologies and specialty finance, driving the broader change and growth agenda of financial institutions.

As an operating executive and advisor, Joerg worked across the life cycle in turnaround and transformational M&A. This included strategy development, operational execution, and technology solutions. In this capacity, he led the commercialisation, reorganisation, and integration of emerging financial technologies, assuming executive roles in artificial intelligence and enterprise software businesses. He led a series of engagements for the restructuring of the international wholesale businesses of global European banks; advised regional, systemic banks across Europe, the Middle East, and Africa on nonperforming assets, business performance improvement, and technology solutions; and assisted neobanks in the operational buildup of their consumer and commercial finance businesses. He further brings extensive experience in alternative investments through which he also worked in the international specialty and reinsurance markets.

Joerg has a dedicated technical background in value creation, restructuring, and finance which includes in addition to his PhD, the Certified Turnaround Professional (CTP), Chartered Financial Analyst (CFA), and Financial Risk Manager (FRM) designations. His longterm academic and research interests have been risk transfer and financial engineering, financial stress, and restructuring as well as entrepreneurship and technology innovation. During his professional career, he has been specialising in the combination of strategic and financial decision making as well as the transformational impact of technology. He developed a comprehensive transformation and value creation methodology to build and transform financial institutions that is further discussed in this book.