1st Edition
Predictable and Avoidable Repairing Economic Dislocation and Preventing the Recurrence of Crisis
Much has been said and written about the 'financial tsunami' and subsequent economic dislocation that occurred in the opening decade of the 21st Century. Professor Ivo Pezzuto is described by business scholars as an expert on the global financial crisis. He has lectured about it at conferences and seminars; written some of the most read and quoted papers; contributed to what is considered the most authoritative book on the subject; and to one of the best known US-based blogs dealing with it. In Predictable and Avoidable, Dr Pezzuto offers business school students; academics; and industry experts in the fields of finance, risk management, audit, corporate governance, economics, and regulation, a truly independent and unbiased analysis of the financial crises starting in 2007 and one of the first fully considered expositions of the financial, governance and regulatory reforms needed for the future. Augmented with personal interviews involving selected global thought leaders and industry experts, the author's narrative focuses on the technical issues that led to the global crisis, but also addresses the human, cultural, and ethical aspects of the events from both sociological and managerial perspectives. The book exposes the root causes and contributes significantly to the debate about the change needed in the banking and finance industries and to supervisory frameworks and regulatory mechanisms. This analysis enables readers to understand that the crisis we have seen was predictable and should have been avoidable, and that a recurrence can be avoided, if lessons are learned and the right action taken.
Biography
Dr Ivo Pezzuto is a professor of business administration and a management consultant. He holds a BS degree in business administration from NYU Stern School of Business (USA), an MBA degree from SDA Bocconi School of Management (ITALY), and a DBA degree from SMC University (SWITZERLAND) on corporate governance. He teaches courses at undergraduate, graduate, and doctoral levels and specializes in corporate education and executive seminars. He is professor of business administration at SMC University in Zurich; Fondazione ISTUD Business School in Baveno; Università Cattolica del Sacro Cuore of Milan; and guest lecturer at MIP School of Management of Politecnico di Milano. Prior to his academic career he was Senior Manager in Accenture, Head of Product Development and Portfolio Management for American Express Europe, and more recently Vice President (Credit Cards Division - Europe) for Diners Club. He has authored many journal articles and contributed to a number of books.
Classified as 'Research Essential' by Baker & Taylor YBP Library Services ’Dr Pezzuto’s far-reaching and insightful book on the causes of and cures for the financial meltdown of the late 2000s is a must read for anyone who holds a position of trust. In particular, his comprehensive table on the Summary of Causes of the Financial Crisis and Actionable Risk Mitigation Plans is unparalleled in both form and function.’ John H. Nugent, School of Management, Texas Woman’s University, USA ’This exquisite book sheds a light on the facts that led to the biggest financial crises since the Great Depression. Dr Pezzuto provides the opportunity to understand the extreme risk taking, the excessive power of the banks and the regulation failure. By using fact based evidences, he proves that the biggest financial turbulence of this generation was preventable.’ Daniela Milanese, journalist, Agência Estado, Brazil ’This book impressively fits a number of puzzle pieces of crisis analysis right into a comprehensive structure of ethics and values that will be necessary to shape a world without too much pollution, and it shows that through the financial crisis also such a thing as financial pollution became apparent. Highly recommendable at a specifically personal level for leaders of all ranks.’ Peter H. Hoffmann, CEO, Evolta - Evolving Executive Careers / Consulting and Development, and Prof. em. SMCU, Austria ’This remarkable and insightful book shows the reader what really went wrong, and why, in the global financial crisis. A fact-based and unbiased perspective, robustly coupled with analytical insights, connects the dots of all the events that led to the financial meltdown and its aftermath. Based on the author’s own deductive reasoning, his extensive research and his seasoned managerial experience, the book is enriched with valuable thought-leaders insights on the crisis and sound proposals for improved financial regulation
