| Summary: | "Christian Dinesen, a talented analyst and successful senior executive, is helping us understand why history repeats itself in the banking sector since the Medici. Banking is the blood system of all economies. It needs experts, but often lacks real managers. Christian's advocacy for more simplicity and his great analysis of historical precedents will help the reader detect earlier the warning signals of the next big crisis!"--Henri de Castries, former Chairman and CEO, AXA SA "I know of no one better placed than Christian to get to the bottom of how and why bank failures and financial crises happen. This book should be widely read." --Tim Leunig, London School of Economics and Political Science "In this tour de force, Christian Dinesen lifts the veil on a troubling feature of the global banking system--its absent management. The banking industry is so complex that it would need the finest managers. And yet, the same industry has long denigrated management and continues to do so. Christian makes a compelling argument for valuing management presence, lest we continue to suffer crises not only financial, but of trust and faith in business enterprises." --Gianpiero Petriglieri, INSEAD Business School Offering a historical analysis of management in banking from the Medici to present day, this book explores how banks can cause devastating financial crisis when they fail. Rather than labelling management as 'good' or 'bad', the author focuses on the concept of absent management, which can occur as a result of complexity. The complexity of banking, which intensified alongside the phenomenal growth of banks in the 20th and 21st centuries, resulted in banks that are mismanaged or, at times, even unmanaged. Drawing on business school case studies including Barings and Lehman Brothers, this book showcases how absent management in banking has caused crises, depressions and recessions, and how ultimately it will continue to do so
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