Gradually, then suddenly


Ewen Fleming

Ewen Fleming

Partner - Financial Services Advisory


Arguably, the last decade has seen the financial services sector facing the most fundamental attack that it has faced in over a century, due to technological changes leading to new competition and driving swings in consumer behaviour. Add to that an extremely challenging political and economic environment and the Ernest Hemingway quote from his novel ‘The Sun Also Rises’ springs to mind. When a character in the book is asked “How did you go bankrupt?” he replies “Two ways. Gradually, then suddenly!”

In my recent white paper, The Circle of Life, I explored the four forces of change that are impacting Banking and the wider Financial Services sector and that should be considered when developing risk mitigation strategies. This article looks in more detail at obsoletion. We begin by examining the key threats to financial services firms and finish by providing a strategic framework which can be used to avoid long-term decline.

If you want to discuss any aspect of developing your strategy or the translation of the strategy into an effective and results orientated change programme then please get in touch with me.