Subject category:
Production and Operations Management
Published by:
Harvard Business Publishing
Version: 12 April 1996
Length: 19 pages
Data source: Field research
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Abstract
Portrays the dilemma faced by Marsh Carter, CEO and chairman of the board of State Street Bank, in May 1995. For the past decade, the bank earned continually expanding earnings through its rapidly growing custody business. Now, as that business matures and custodial fees erode, Carter is seeking to expand the bank''s presence in higher value-added financial services. Developing these will require the bank to build new sets of organizational capabilities to leverage and integrate skills located in different divisions of the bank.; Can be used to teach product development in financial services and the challenges facing senior management in bringing about fundamental changes in their operating strategies.
About
Abstract
Portrays the dilemma faced by Marsh Carter, CEO and chairman of the board of State Street Bank, in May 1995. For the past decade, the bank earned continually expanding earnings through its rapidly growing custody business. Now, as that business matures and custodial fees erode, Carter is seeking to expand the bank''s presence in higher value-added financial services. Developing these will require the bank to build new sets of organizational capabilities to leverage and integrate skills located in different divisions of the bank.; Can be used to teach product development in financial services and the challenges facing senior management in bringing about fundamental changes in their operating strategies.