Bank CEOs and senior executives from among the winners of Global Finance’s Best and Safest Banks awards offer their advice to corporate finance directors on selecting the ideal banking partner.
Top bank executives around the globe say 2005 will remain another tough year for trying to win new corporate customers and to hold on to the ones they already have. The bankers will have to offer new services faster and for less money than ever before because the corporate finance directors remain in the driver’s seat.
Finance directors should look for a single bank that can handle all of their financial needs. In an emerging market, there are so many opportunities and changes occurring that it’s best to keep tight control over your money. The fewer banks you use, the better.
Selecting the right bank to work with is a decision of the utmost importance that deserves more attention than it usually receives," says Manuel Medina-Mora, CEO of Banamex. There are significant differences in the products, as well as prices and customer service offered by various banks, he says. Medina-Mora, who was named chairman and CEO of Citigroup Latin
America and Mexico in March 2004, while remaining CEO of Banamex, says it is wiser to choose a financial group, rather than a bank, in order to gain access to a comprehensive range of financial service
A bank must be able to respond quickly with innovative services that reduce the day-to-day operational hassles of the corporate client,Customers are demanding more value-added products and want the bank to have specialists in their business area who can act as consultants.
A bank should have the capability to educate clients about the necessity of protecting themselves against market risks and especially foreign exchange risk. Clients who transact their business through several accounts at the bank are offered cash-pooling and overnight term deposits.
The bank should have a long-term commitment, not only to its clients, but also to its country,The bank should have a team with dedication, enthusiasm and integrity
source:http://findarticles.com/p/articles/mi_qa3715/is_200501/ai_n9469248/pg_12
