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Michael G. Ryan Merrill Lynch International Bank Limited GIC Conference Overview Challenges The road ahead. . . What’s the attraction? 1
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Global Interdependence CenterConference, Dublin June 12, 2007
Michael G. RyanMerrill Lynch International Bank Limited
1
GIC ConferenceOverview
Merrill Lynch International Bank Limitedo Business o History
What’s the attraction?
Challenges
The road ahead. . .
2
Headquartered in Dublin
o operates through international branches and subsidiaries
The Bank employs 2,350, 750 in Dublin
Total assets $150 bn
$7 bn in capital
Broad base of global markets and private client businesses
Global Markets
Debt Derivatives Foreign Exchange
Corporate Lending Debt & Equity sales
Loan Trading
Non U.S. Global Private Client
Private Client Advisory Retail Lending & Deposit Taking
Merrill Lynch International Bank Limited
GIC Conference: Merrill Lynch International Bank Limited
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Established in 1995 in Dublin, with 35 employees
Expanded to approx 200 people by 2002
Commenced execution on a new phase of expansion in 2003
HistoryGIC Conference: History
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EU market access
Capacity and opportunity to innovate
◦ Efficient and effective legal, tax, and regulatory environment
Operating leverage; a competitive edge
◦ Balancing cost, productivity, and opportunity
◦ A long-term view . . .
Availability of talent; human capital
Flexibility; ability to react and adapt
◦ Reduce or remove structural barriers
What the attraction?
GIC Conference: What’s the Attraction
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Globalization◦ . . . challenges from the east, west and within. . .
Managing success
Costs◦ Changes the business case; justify the premium◦ Targeted offerings from lower cost economies
Addressing the skills needs◦Multidimensional challenge
Challenges
GIC Conference: Challenges
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GIC Conference: The road ahead . . .
Transitional
Initially:
Export driven Connectivity with local business
As we move forward . . .
Firms are still export driven, but also more engaged with each other and the local market
Focus on high-end activities Manage the challenges of success
◦ Define the brand
The road ahead . . .