The Financial Institutions Sector has undergone rapid changes in recent years due to socio-economic, regulatory and technological developments. Financial services have been in many cases identified to lie at the origin of the world financial crisis in the post-Lehman world, or else being involved in the aftermath of the sovereign debt crisis. The immense pressures exerted either on the national economy via the banking sector, or on the financial institutions themselves as a result of the severe economic downturn, have been marking the evolution of the Financial Institutions sector in Greece and the wider geographic area.
Amidst this turmoil, Greece has been undergoing an unprecedented consolidation of the banking sector together with the results of an enormous recapitalization effort of the Greek banks following the haircut of the Greek public debt as a result of the Private Sector Initiative (PSI). During this intense restructuring that all major players have been undergoing in the recent past, manifest in the form of acquisitions of distressed portfolios and subsequent mergers, all surviving banks in the Greek market have been in demand of consulting services to tackle the challenging issues they are still facing.
The post crisis landscape in the financial services industry calls for mechanisms to ensure stability. The need to adhere to enhanced regulatory norms established as a result of the crisis, together with the ongoing need to finance the real economy struggling under extreme cash shortage situations, requires the commitment of significant human and financial resources in the quest for business models that bring the industry back to normal operating conditions, away from the current state-owned status in the quest for a new wave of business growth, cost efficiency and profitable operations. Following this hopefully not particularly elongated period, the major Greek players will strive for achieving and maintaining current and future competitive advantage in markets that are increasingly shaped by the intensifying competition.
PLANET has historically contributed to the transformation of the banking system in Greece and South East Europe working on processes reengineering, organisational restructuring and upgrading of major banks’ information systems. Together with experienced international partners, PLANET has also assisted banks in defining and operationally implementing large scale merger and acquisition operations.
PLANET has put a significant effort in modernising banks and maintaining continuing improvements of mature market players. PLANET’s clients include major commercial banks, central banks, asset management firms, insurance companies and investment companies.
PLANET has supported clients to adequately scope small and large-scale interventions as a key element of success by following a guided participative approach mobilising client organisations and leveraging their resources to build a sense of ownership.
PLANET has been offering either on its own or with partners a wide range of core Strategy, Management and ICT Consulting Services to Financial Institutions, but has also been active in the provision of Development Consulting Services related to private investments funding and management, as well as in the provision of Infrastructure Development services such as the Construction management & supervision of Corporate Buildings hosting financial services activities, and the provision of Lender’s Technical Advisory (LTA) services supporting Financiers of PPP/PFI/Concession and Private projects to identify and mitigate risks related to project bankability.
Leveraging on a large pool of accumulated expertise and know-how, we are able to deliver solutions that are specifically built around each client’s needs.