Case Study

Working with a major bank to off-board all clients as part of a controlled-wind down 

Transformation | Banks | Amsterdam

The Background

  • Working for the Head of Operations (EMEA) for a major commercial bank

  • The NextWave Infinium team played a key role in the off-boarding of all clients as part of a controlled wind-down and closure of the banks’ network business across 19 countries

The Challenge

  • The bank was aiming to wind-down parts of the business, with multiple asset classes and in a number of locations

The Approach

  • The initiative was one of the largest corporate banking wind-downs to date, and involved 22,000 Corporate clients, 110,000 accounts, in excess of £1.6tn in assets, (more than the value of Italy’s economy) in 19 EMEA countries, covering Cash and Trade (GTS) business, as well as unwinding the more complex cash pool and pledge structures that were in existence

The Impact

  • The program was delivered in 2 years and focused not just on capital reduction but also ensuring that all of the cost was removed from the business, with all local branches being closed and licences handed back


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