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For 44% investor fit is most important
Wilfried Pototschnig,
Director, Deputy Head of M&A lead advisory
28 April 2009
Given that the credit markets remain closed for the most part and that many companies are looking for alternatives to meet their goals for expansion and growth, the strategic fit of an investor, both financial and strategic, is crucial to the decision-making process.
Poll results
Anna Beattie
Director, business recovery services
28 April 2009
Recovery of non-performing loans (NPL) or problem assets is becoming a crucial issue for banks in Russia with analysts and experts predicting a significant rise in NPLs by the end of 2009.
M&A activity in the real estate
Antonin Busta,
Manager, M&A lead advisory
31 March, 2009
Historically, the dynamics of the real estate industry have been rather cyclical, and the cycles’ ups and downs have correlated with the overall macroeconomic development. Hand-in-hand with the current economic downturn, today’s real estate industry is at the bottom of this cycle (or near it), and new challenges have emerged for a wide range of market players – from developers to tenants.
What is most important?
Wilfried Pototschnig,
Director, Deputy Head of M&A lead advisory
31 March, 2009
The global market turmoil and credit crunch is forcing Russian companies to thoroughly review their business strategy and operations. As a possible consequence, sellers and shareholders may consider selling their non-core assets and non-performing businesses, for example, to restructure their debts and improve their financial position.
Should IT staff be let go? (Part 2)
Vyacheslav Gotovtsev
Manager, Performance improvement
27 March, 2009
You might remember that my previous blog post was devoted to alternative ways of cost reduction in IT, which is gaining ground in large companies. Today I would like to conclude by telling you about two other interesting ways of reducing IT costs.
Should IT staff be let go? (Part 1)
16 March, 2009
Today, when IT executives are pressed both by CEOs and CFOs to reduce their budget by 10–50%, many of them believe it can only be done by optimising investments or cutting payroll. While this may be the most obvious approach, it is not the only way to save money.
“Open kimono” approach
Jonathan Thornton
Partner, Transactions Services
16 February, 2009
When businesses are experiencing financial pressure, relationships between lenders and creditors often become strained. Companies may be unable or unwilling to provide meaningful financial information which lenders need in order to understand their position and whether or not they will be repaid. If they don’t get the answers and information they need, there is a break down in trust.
Restructuring your debt
Anna Beattie
Director, business recovery services
16 February, 2009
The impact of the financial crisis and global economic slowdown is now being felt in Russia as the combined effects of reduced liquidity and falling oil and other commodity prices flow through to other industries.
Basel 2: The Basel Committee strikes back
Cris van Kempen
Director, Governance, risk and compliance practice
29 January 2009
Unfased by ill-informed critics, demanding the burial of the Basel 2 Framework, the Basel Committee has released in mid-January a package of consultation papers, aimed at improving the Basel 2 Framework.
Integrated risk management system in banks
Alan Vaksman
Director, Advisory Performance Improvement
27 January, 2009
Recently we conducted a poll in which we asked respondents the following simple question: “Are you looking to implement an integrated risk management system?” The poll results showed that for 47% of respondents, developing an integrated risk management system is not on their list of priorities, while 25% of respondents said they had no need of an integrated risk management system at all.
Welcome to the crisis, or rather new times and new opportunities: car components within the context of the economic crisis
Mark Shtilkind
Director, Performance Improvement
27 January, 2009
Recently we conducted a poll in which we asked respondents the following simple question: “Are you looking to implement an integrated risk management system?” The poll results showed that for 47% of respondents, developing an integrated risk management system is not on their list of priorities, while 25% of respondents said they had no need of an integrated risk management system at all.
Time to sell?
Michael Knoll
Partner, Head of M&A Lead Advisory / Corporate Finance
19 January, 2009
Given the worsening of the crisis, which has become global in scale, financial institutions are faced with the need for higher provisions/write-offs as regards their loan portfolios. A bigger proportion of non-performing loans (“NPL”), where the borrowers can no longer meet their obligations, is a significant drag on the performance of a bank.
Automotive sector – tax aspects of the crisis
Enrika Schevchenko
Partner, Automotive Tax Services
19 January, 2009
During the financial crisis auto manufacturers are looking for new ways of promoting their cars on the market through dealership networks. They are forced to revise their bonus arrangements set for dealers for meeting by them of certain criteria, e.g. sales volumes and other targets. The tax implications of granting and receiving such bonuses are not straightforward and depend both on the nature of the bonuses and on their documentation support.
How to minimise negative consequences from anti-crisis measures
Sergey Kudryashov
Senior Manager, Systems & Process Assurance Services
19 January, 2009
The automotive industry was one of the first sectors in the economy to be hit by the crisis. Problems in the banking sector affected the car loan market. Meanwhile, a decline in household income and an increase in unemployment drove car demand down. As a result, car manufacturers were the first to cut costs, lay off employees, decrease output, change pricing policy and re-evaluate payment schemes with suppliers and dealers.
Overdue loans collections
Cris van Kempen
Director, Governance, risk and compliance practice
19 January, 2009
For banks, properly managing overdue loans is key to a sustainable, profitable business. A well functioning Collections Department, or Problem Loans Department, is a core asset of any bank that wants to be successful not only today but also tomorrow and beyond. Outsourcing the handling of problem loans to a collection agent should be done on an exceptional basis only. Managing overdue loans in a bank’s retail lending portfolio is very different from overdue loans in a bank’s corporate lending portfolio.
Surviving the crisis by increasing customer loyalty
Alexander Kouporov
Manager, Financial Services Advisory
19 January, 2009
When buying a car, a customer deals with three main parties: a dealer, a bank and an insurance company. Each of them provides a unique service or a product: a car, financing and insurance coverage, respectively. A credit scheme of car purchase with these three parties is common in many countries. Before the crisis, every other car purchased in Russia was purchased in this way. But during the crisis the lending volume has slumped.
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