Rick Spear, Senior Partner Financial Services at Simon-Kucher, discusses value creation, the evolving roles in financial services, technological change, and preparing for uncertainty. He shares insights on innovation, the impact of AI, and why adaptability and smart decision-making are crucial for future success.

Takeaways

• Value creation is central to successful financial services consulting.
• Rick Spear’s dual experience as an operator and advisor informs his approach.
• The intersection of supply and demand drives strategic decisions and value optimization.
• Long-term industry invariants include money’s central role and high stakes.
• Change in financial services accelerates, especially through technology and AI.
• Preparing for the future involves experimentation, smart bets, and continuous learning.
• Legacy banking systems and products are poised for disruption and modernization.

Key Words

Value creation, Financial services, Capital markets, Wealth management, Technology change, AI adoption, Strategic advice

Chapters

00:00 Introduction to Rick Spear and His Journey

02:36 The Role of a Management Consultant

05:08 Value Creation in Financial Services

07:48 Future Trends in Capital Markets

10:31 Preparing for Change in the Industry