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Spreadsheet supplement for case W34499.

Derrin Raffey, chief financial officer at St. Thomas More College (STM) in Saskatoon, Saskatchewan, Canada, oversaw STM’s investment trust. With a value of more than CA$22 million, managing the trust required careful consideration of various factors, including management fees, performance, the appropriateness of the holdings, and relationships with investment managers.<br><br>At times, the trust had held investments that were not appropriate, given the college’s religious values. However, with the hiring of a new investment manager, switching from pooled fund investment to discretionary investment became an option. As STM did not have a formal process or template for reviewing investment managers, developing these was a priority. Finally, there was the question of what strategy STM should adopt—was it possible for STM to balance its need for growth and returns against other factors such as the college’s religious ethos and the wishes of its various stakeholders?

Green Consultant, a Singapore-based environmental consulting firm, had worked with several financial institutions before 2023 and was aware that many were interested in expanding their loan portfolios to include more environmentally inclined clients. In January 2023, one such client, a Singapore-based small and medium enterprise (SME) named Chang & Lee Manufacturing (CLM), approached Green Consultant to prepare a business proposal on how the SME could transition to solar energy. A green finance analyst at Green Consultant had one month to deliver a proposal to CLM. He had to consider the type of solar business model, the financing option, and the CLM stakeholders to engage, alongside CLM’s operational and financial conditions, to recommend the most economically feasible solar solution for CLM.

Derrin Raffey, chief financial officer at St. Thomas More College (STM) in Saskatoon, Saskatchewan, Canada, oversaw STM's investment trust. With a value of more than CA$22 million, managing the trust required careful consideration of various factors, including management fees, performance, the appropriateness of the holdings, and relationships with investment managers.<br><br>At times, the trust had held investments that were not appropriate, given the college's religious values. However, with the hiring of a new investment manager, switching from pooled fund investment to discretionary investment became an option. As STM did not have a formal process or template for reviewing investment managers, developing these was a priority. Finally, there was the question of what strategy STM should adopt-was it possible for STM to balance its need for growth and returns against other factors such as the college's religious ethos and the wishes of its various stakeholders?

Green Consultant, a Singapore-based environmental consulting firm, had worked with several financial institutions before 2023 and was aware that many were interested in expanding their loan portfolios to include more environmentally inclined clients. In January 2023, one such client, a Singapore-based small and medium enterprise (SME) named Chang & Lee Manufacturing (CLM), approached Green Consultant to prepare a business proposal on how the SME could transition to solar energy. A green finance analyst at Green Consultant had one month to deliver a proposal to CLM. He had to consider the type of solar business model, the financing option, and the CLM stakeholders to engage, alongside CLM's operational and financial conditions, to recommend the most economically feasible solar solution for CLM.

In 2012, the Jamaican economy was in a crisis. It had an estimated debt-to–gross domestic product ratio of 147 per cent. To alleviate the crisis, the Jamaican government signed both an extended fund facility for US$948 million, in 2013, and a precautionary stand-by arrangement for US$1.64 billion, in 2016, with the International Monetary Fund (IMF). As a condition of the IMF loan, the Jamaican government agreed to an economic reform agenda with requirements that included the harmonization of prudential standards across all deposit-taking institutions (DTIs) and consolidated supervision. Consequently, in 2014, the Government of Jamaica passed the Banking Services Act (BSA), which became effective September 30, 2015. Prior to the BSA, the financial services sector was fragmented. Banks and DTIs were regulated by the Bank of Jamaica (BoJ), Jamaica’s central bank; building societies, though supervised by the BoJ, were governed by the Building Societies Act, while credit unions were self-regulated through the Jamaica Co-operative Credit Union League.<br><br>In December 2020, Courtney Campbell was the chief executive officer of the Victoria Mutual Building Society (VMBS), a mutual company (i.e., a company owned by its depositors). He had to decide on the future direction of the company under the new regulations and the pending implementation of new measures. The decision came at a time of great external uncertainty, as COVID-19 was still ravaging the world and there was no vaccine yet approved.

Spreadsheet supplement for case 224029.

Spreadsheet supplement for case 224029.

In 2012, the Jamaican economy was in a crisis. It had an estimated debt-to-gross domestic product ratio of 147 per cent. To alleviate the crisis, the Jamaican government signed both an extended fund facility for US$948 million, in 2013, and a precautionary stand-by arrangement for US$1.64 billion, in 2016, with the International Monetary Fund (IMF). As a condition of the IMF loan, the Jamaican government agreed to an economic reform agenda with requirements that included the harmonization of prudential standards across all deposit-taking institutions (DTIs) and consolidated supervision. Consequently, in 2014, the Government of Jamaica passed the Banking Services Act (BSA), which became effective September 30, 2015. Prior to the BSA, the financial services sector was fragmented. Banks and DTIs were regulated by the Bank of Jamaica (BoJ), Jamaica's central bank; building societies, though supervised by the BoJ, were governed by the Building Societies Act, while credit unions were self-regulated through the Jamaica Co-operative Credit Union League.<br><br>In December 2020, Courtney Campbell was the chief executive officer of the Victoria Mutual Building Society (VMBS), a mutual company (i.e., a company owned by its depositors). He had to decide on the future direction of the company under the new regulations and the pending implementation of new measures. The decision came at a time of great external uncertainty, as COVID-19 was still ravaging the world and there was no vaccine yet approved.

Shrikant Patel was the manager of Sabar Aart Farmer Enterprise Producer Company Ltd (SAFE), located at Khedbrahma, in the Sabarkantha district of Gujarat. Patel knew that members of the farmer producer organization (FPO) were working laboriously but were still not able to generate high incomes. Organic cultivation of only a single crop in fertile land once a year did not boost their incomes. Passionate about agriculture and social work, he wanted to encourage the FPO members to adopt multicropping and increase their incomes. He identified turmeric as one of the crops that was not grown in the Sabarkantha region. Thus, growing turmeric along with creeper vegetables would not only ensure a steady income for the FPO members but would also provide the FPO with first-mover advantage in organic turmeric cultivation in the region. Patel, not being an expert in accounting, needed support from advisers to determine an accurate price for the turmeric powder from one kilogram (kg) of raw turmeric input.

Anthony (Tony) Pritkzer, Paul Carbone, and the Pritzker Private Capital (PPC) team wondered how to approach the firm's next phase of growth. PPC was a private equity firm that offered a differentiated approach to the family capital market. Back in 2016, the partners had decided to introduce third party capital into their stream of funds, ultimately allowing for bigger and more successful deals. Despite their financial gains, PPC knew that their initial success could easily be forfeited. Much was to be considered: addressing regulation, maintaining PPC's family-first image, and preserving Tony's entrepreneurial spirit were only but a few challenges to be faced. How should the team advance, given the additional obstacles that come with PPC's model?

February 2022 marked the start of the tenure of a new managing director and chief executive officer at Punjab National Bank, a critical position in the wake of the bank’s challenges, including a massive instance of fraud and challenges associated with the bank's amalgamation with the United Bank of India and Oriental Bank of Commerce in 2020. With over three decades of experience leading other public sector banks, the new leader embarked on the mission to restore the bank’s 128-year legacy. Faced with the daunting task of restoring the bank’s former reputation and glory, he explored strategies for implementing a comprehensive plan to bring Punjab National Bank back on the track of sustainable growth. Which strategy would reshape the bank’s trajectory and ensure sustainable growth while also reviving the bank's legacy and heritage?

Braithwaite & Co. Limited (BCL) was a leading railway-engineering public sector company in India. The company was incorporated in 1930 as the first wagon manufacturing company in India. In 1976, the Government of India (GoI) nationalized the company, registering and incorporating it as a fully owned GoI undertaking to support Indian Railways by supplying railway wagons. However, following nationalization, BCL faced growth challenges and gradually accumulated significant losses during the 1990s; eventually, it was declared legally sick and referred to the Board for Industrial and Financial Reconstruction (BIFR). The reasons identified for its sickness were failure to technologically upgrade and adapt to changing market scenarios, dependence on a single customer (Indian Railways), and operational-level issues within the organization. Yatish Kumar joined BCL in 2018 and took a series of strategic and operational measures to turn the company around. These measures resulted in BCL's improved financial performance, profitability, and a quick turnaround, and the company was awarded Miniratna Category-I status in 2021. Although BCL had been growing at a good rate, Kumar was concerned about how to sustain the turnaround and maintain that growth rate in the future.

In late 2022, a difficult period for the cryptocurrency industry persisted, marking the middle of what many considered a “crypto winter.” Popular tokens and currencies like Bitcoin and Solana lost over 50 per cent of their value, with other Web 3.0 adjacent technologies following the same path. Debate surrounded the industry at large, and the US Securities and Exchange Commission (SEC) flexed its regulatory muscle on a “poster boy” non-fungible token (NFT), Bored Ape Yacht Club (BAYC), in efforts to provide more structure to the NFT market. The chairman of the SEC, Gary Gensler, who was extremely knowledgeable in the crypto space and also considered a tough regulator among the community, had to determine how to classify BAYC. Ultimately, questions surrounding BAYC’s legal interpretation were being posed in the SEC's investigation: Should BAYC be regulated as a security? Were investors protected? Should NFTs be considered art? Did BAYC violate security regulations? As one of the leading representatives of the entire $2 trillion crypto industry, the potential regulation of BAYC had major implications for its peers, the underlying technology, and a spectrum of investors.

Spreadsheet to accompany product W34036.

On March 24, 2015, the chief executive officer of SVB Financial Group Inc., the parent company of Silicon Valley Bank, was testifying to a US Senate committee. His goal was to provide evidence in support of raising the threshold of US$50 billion in assets, for Silicon Valley Bank’s application for enhanced prudential standards under the Dodd-Frank Act. Silicon Valley Bank was above the threshold of $10 billion for some enhanced prudential standards, and close to the $50 billion cut-off for the full array of enhanced prudential standards. By the end of 2021, Silicon Valley Bank still fell below strict scrutiny from the enhanced prudential standards, despite having experienced rapid growth since the US Senate testimony. With the rapid growth of its deposits, the bank was facing a dilemma. Given the nearly zero rates on short-term bonds as of the end of 2021, should Silicon Valley Bank chase the higher yields provided by longer-term bonds and accept higher interest rate risk? What risk management practices should the bank follow? With its deposit base largely uninsured, would the bank’s risk exposure become an issue?

Spreadsheet Supplement for Case W34036.

On March 24, 2015, the chief executive officer of SVB Financial Group Inc., the parent company of Silicon Valley Bank, was testifying to a US Senate committee. His goal was to provide evidence in support of raising the threshold of US$50 billion in assets, for Silicon Valley Bank's application for enhanced prudential standards under the Dodd-Frank Act. Silicon Valley Bank was above the threshold of $10 billion for some enhanced prudential standards, and close to the $50 billion cut-off for the full array of enhanced prudential standards. By the end of 2021, Silicon Valley Bank still fell below strict scrutiny from the enhanced prudential standards, despite having experienced rapid growth since the US Senate testimony. With the rapid growth of its deposits, the bank was facing a dilemma. Given the nearly zero rates on short-term bonds as of the end of 2021, should Silicon Valley Bank chase the higher yields provided by longer-term bonds and accept higher interest rate risk? What risk management practices should the bank follow? With its deposit base largely uninsured, would the bank's risk exposure become an issue?

This instructor spreadsheet accompanies product W34798.