Reborn Capital Empire

Chapter 537 Phoenix Bank

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After a long time, Guo Shouyun pressed his hands down to signal everyone to calm down, "Starting today, in terms of total assets, we are the ninth largest bank in the United States after Bank of New York Mellon, and in terms of Tier 1 capital, we are the second largest bank in the United States. Wells Fargo is the seventh largest bank in the United States. But I believe this is only the starting point for us now, not our end point. In the future, Phoenix Bank will become the top three banking giants in the United States, and our business will no longer be limited to the United States, but A true world-class banking giant. Of course, I also assure everyone that any veteran who accompanies the company's development will be rewarded handsomely when the company goes public in the future."

The applause was louder this time. Because Guo Shouyun's words mean that the company will go public in the future, and everyone will have options to take.

There is nothing more touching than naked interests.

After signalling everyone to calm down, Guo Shouyun continued: "With the merger of the two companies, the original business structure is no longer suitable for the needs of the new company's development, and the personnel also need to be adjusted. Therefore, the main content of today's meeting is: reorganization of the company's board of directors , adjust the company structure and announce new personnel appointments.”

The atmosphere of the meeting became solemn. Although everyone has long expected that the two companies will make certain adjustments in the company's organizational structure and personnel after the merger, they did not expect it to come so quickly.

When it comes to their future, everyone is energized. Of course, relatively speaking, the people of Phoenix are relatively relaxed. After all, this is a merger of two companies in name, but in fact it is dominated by Phoenix. They are the direct descendants of the cronies, while the people from the city bank are outsiders, and they must be the focus of adjustment.

"Starting today, Phoenix Bank's business is divided into two different areas: administration and business, with a total of 18 departments. The administrative areas are divided into: administration department, planning department, personnel department, finance department, security department, legal department, strategic development and Risk Control Department, seven departments, business areas are divided into: Retail Banking Department, Commercial Banking Department, Wealth Management Department, Asset Management Department, Private Banking Department, Venture Capital Department, PE Investment Department, Investment Banking Department, Insurance Department, R&D Department , Eleven departments of the Internet Banking Department.”

"Administration Department, responsible for daily office affairs management, office item management, document management, meeting management, travel arrangements, etc. Department supervisor: Emma Wilder."

"The Planning Department, the full name of the Corporate Marketing Planning Department, is responsible for the company's external publicity and promotion; as well as the research and improvement of corporate culture and management culture; market research; media public relations, maintenance of corporate image, etc. Department supervisor: Kohler Fanning."

"The responsibilities of the personnel department, the finance department, the security department and the legal department, I believe you all know without saying. Personnel director: Tim Smith; Finance director: Patty Sellers; Security director: Dawn. Damon; Head of Legal: Michael Owen."

“The Strategic Development and Risk Control Department, as the name suggests, will be responsible for the company’s mergers and acquisitions, restructuring and investment business, as well as risk assessment. Any project with an investment scale of more than $30 million must first pass the risk assessment of the Strategic Development and Risk Control Department. If the business department If there is a dispute with the risk control department, it will be reported to the board of directors and I will discuss it before making a decision. David Reinissi, director of the strategic development and risk control department.”

A middle-aged man with golden glasses nodded with a calm expression. Among all administrative departments, the strategic development and risk control department has the greatest power. It can fully intervene in every major investment of Phoenix Bank.

In addition, it can also be seen from the personnel appointments that they are close and distant. Core departments such as finance, personnel, and risk control are all senior management of the original Phoenix company. The slightly weaker departments such as administration, planning, and legal affairs were assigned to the people from the original city bank.

However, even if anyone was dissatisfied with such an appointment, they would not dare to say anything more. After all, in this merger, Phoenix is ​​the real leader.

Guo Shouyun felt the strange atmosphere in the meeting, but he didn't care. If he wants to control the new company, he naturally has to install his cronies in the core department.

"Retail Banking Department, responsible for personal deposit and loan business, credit card business, small and medium-sized enterprise loan business; department head Thomas Thaler."

"Commercial Banking Department, responsible for the deposit and loan business of large enterprises, public institutions and social groups; Department Director: Ira Newbell."

In fact, the commercial banking department corresponds to the business of the wholesale banking department, but Guo Shouyun thought that the wholesale banking was not good, so he changed it.

"Wealth Management Department, responsible for individuals, institutions and enterprises, funds, trusts, private placements, insurance and other financial investment businesses with an investment scale of less than 1 million US dollars; Department Director Jaren Jackson."

"Asset Management Department, responsible for financial investment businesses such as funds, trusts, private placements, insurance, etc. with institutional and corporate investment scales over US$1 million; Derek Tial, head of the department."

"Private Banking Department, responsible for funds, trusts, private placements, insurance and other financial investment businesses with personal investment of more than 1 million US dollars; Department Director Shonayl Scott."

"The Venture Capital Department, that is, the investment business in the two fields of angels and VCs, the department head: Ryan Koch. The PE investment department, as the name suggests, is mainly aimed at the financing business of enterprises in the primary market, the director: Paul Lehman."

"Investment Banking Department, responsible for corporate IPO, investment mergers and acquisitions, bond issuance, financial intermediary and consulting and other securities businesses, the head of the department, Michael Moretz."

After glancing at his old partner with a calm expression, Guo Shouyun smiled lightly. Let Michael Moretz be in charge of the investment banking department. He consciously tempered this talented old subordinate. If he does not live up to his trust, then he will be the most suitable CEO candidate if he wins Merrill in the future.

"The insurance department mainly focuses on property insurance, life insurance and auto insurance. The head of the department is Samaki Walker."

As soon as he finished speaking, a bald, middle-aged man with black-rimmed glasses raised his right hand. He was Samaki Walker, the former head of insurance at National City Bank.

"Boss, commercial insurance has always been our main business. If we adjust the business direction now, how will we deal with the previous business?"

"Sell it!"

Guo Shouyun did not hesitate.

The subprime mortgage crisis that broke out four years later was highlighted in the financial market as two major cancers, namely CDS and CDO. The former's full name is "credit default swap" and the latter is "guaranteed debt certificate", both of which are frequent visitors in the US financial derivatives market.

The relationship between the two will not be explained here for the time being. It only needs to be emphasized that CDO has killed a number of financial institutions that provide housing loans to the American public, including the famous Freddie Mac, Fannie Mae, Washington Mutual Bank, Lehman Brothers and other banks and credit giants.

And CDS has directly caused the world's largest insurance giant, the world's largest commercial insurance service provider "American International Group", to lose more than 60 billion US dollars in just one CDS business. If it weren't for the US Treasury Department to provide it with more than $180 billion in financial support, the insurance giant would have collapsed long ago.

The banking giant that has been harmed by CDS is also Citi, whose Traveler Group is the second largest insurance giant in the United States after AIG. If it weren't for the US Treasury to provide guarantees for its more than $300 billion in debt and inject $25 billion in capital, Citigroup would not have existed in 2009.

And according to some survey reports on the subprime mortgage crisis, the United States alone lost about $200 billion in CDO throughout the crisis. But CDS's losses are ten times larger.

Guo Shouyun didn't want to try it even if he had previous knowledge. This is no longer a 'pit', but a bottomless 'hell'. Jump in and you can't get out.

His decisive tone made Samaki Walker hold back the words he wanted to persuade.

The company has just merged, and the future looks promising. He didn't want to lose his job because of his disobedience.

"The R&D Department is responsible for designing financial products and regularly releasing assessment reports on the stock market, foreign exchange market, bond market and other markets; the head of the department, Danny Ferry."

"The Internet Banking Department is responsible for the design and revision of the company's website, as well as technical maintenance; it connects with various business departments to carry out online banking business. Department Director, Avery Johnson."

Compared with the administrative department, the heads of eleven specific business departments, Phoenix Company and National City Bank are relatively balanced. Businesses like retail banking, wholesale banking, and insurance that Phoenix companies do not have are basically headed by the person in charge of the former National City Bank.

"In the future, the management of Phoenix Bank will be based on the 'business division' system, and all subsidiaries will be cancelled. ... In addition, the company's CEO will be Stephen Bryan, COO will be Ruben Destein, Michael Moretz Co-CEOs, the two of you assist Stephen Bryan in managing the company."

Guo Shouyun didn't say anything about himself, of course he was definitely the chairman of the board of directors.

However, now the merger proposal of Phoenix Bank and National City Bank has not been approved by the Federal Reserve, and National City Bank has not been delisted from the New York Stock Exchange. The merger of the board of directors does not need to be rushed for the time being.

In fact, if both parties hadn't made a point of catching up with the listings of LinkedIn, Google, and Unocal, they wouldn't have started integrating their respective businesses before the merger was approved.

"In addition, I would also like to emphasize. Although many banks are now lowering the door bar of residential mortgage loans~www.wuxiaspot.com~, we, Phoenix Bank, will not relax. We must ensure that everyone takes loans from me. of individuals have formal and stable employment, have sufficient repayment capacity, and submit a down payment of at least 20%."

Although the subprime loan debt portfolio can be sold before the crisis, this kind of deceptive thing is not to be offended. Sometimes it's easy to get smashed.

Instead of dispersing your energy here, it is better to concentrate and keep an eye on the capital market. At that time, whether it is gold or oil, if you make money with your ability, you will be less hostile in the future.

Now the U.S. housing market is in the ascendant stage, and there are not many subprime mortgage loans, so it is lower than Guo Shouyun's explanation, and there is no objection. At most, I just think he is a little conservative in this regard.

"Okay, that's all I have to say, who has questions?"

"Boss, the office area of ​​No. 4 Times Square is less than 30,000 square meters. I'm afraid it cannot accommodate the entire headquarters to work here." Ruben Destin said.

"what's your plan?"

"Why don't we keep the retail banking and insurance headquarters in Cleveland and the rest in New York?"

Ruben Durstein's approach is not bad. In fact, many big banks in the United States do this. For example, Seymour's Global Corporate Bank has its main headquarters in London, and its credit card service headquarters in Wilmington, Delaware.

Guo Shouyun shook his head after thinking about it.

"Not suitable. Separating the headquarters will increase the time cost of the office. Buy another building. I think there must be office buildings for sale in Manhattan."

After Ruben Destin nodded, he continued: "If National City Bank is delisted, when will the new company go public?"

"In the middle or late next year, we will set aside a year to integrate the company!"