Finance & Business Essay Examples & Outline

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Finance & Business Essay: Waterloo Merchant Bank

    A merchant bank is a bank that combines both banking and consultancy services. This bank provides advisory services to its clients where it involves them in financial, marketing and legal matters surrounding them (Gurusamy, 2009). Its main aim to its clients is to provide advice and guidance on investments at a given cost. These types of banks are important to the society as they provide while starting their own businesses (Gurusamy, 2009). On the other hand, they act as sources of capitals to these businesses and as well helps the already started businesses in expanding and modernizing. Restructuring of a business is another advantage attributed to the merchant banks.

Merchant banks such as Waterloo have a great significance in the economy of a country. This is because they initiate companies in registering, buying and as well selling their shares in the stock exchange. In general, a merchant bank is a bank that goes beyond the normal banking services to its clients. Therefore, Waterloo, as a merchant bank provides a wide range of services to its clients (Gurusamy, 2009). These services start from initiating a business to running the business effectively. Despite the significance of merchant banks in the society, they are faced by some challenges. These are both internal challenges and as well external challenges resulting from social setting and economic nature of the country. He internal challenges of merchant banks include mismanagement of resources and as well poor leadership skills with the bank officials. The essay will focus on a case of Waterloo which faced mismanagement of its funds by its officials.

    As stated earlier, mismanagement of resources is among the greatest challenges facing merchant banks (Gurusamy, 2009). Waterloo was a merchant managed by Peter. As a managing director of the bank, he had the authority to enroll staffs into the bank. He successfully appointed Allcard who was his best friend, as a finance manager. However, this brought about issues in the bank. After enrolling Allcard, both Peter and Allcard engaged in misusing of resources. This was an internal mismanagement of resources. As a result, the merchant bank decides to file a case against the two workers for the misuse of resources. This is a form of corruption since the Waterloo’s resources were not used for the intended purpose (Gurusamy, 2009).

    Considering Peter’s case, different measures can be implemented to deal with their corrupt nature. Waterloo Limited took the initiative to file a case against Peter. This is a legal measure that will allow the merchant bank to recover its lost resources. Advising the involved parties, it requires understanding the nature of the mismanagement committed by Peter and Allcard. On to the Merchant bank (Waterloo); the legal action taken is according to the law governing companies (Gurusamy, 2009).

This measure is not only important in acquiring the mismanaged resources but also as a governing tool to other workers in the company. Legal requirement of companies and banks require them to have financial audits who audit their record book aiming at identifying frauds in the company. This measure aims at dealing with corruption activities in bank (Gurusamy, 2009). On this case, Waterloo, need to develop and implement adequate tools and methods for the audit and the evaluations in order to acknowledge the presence of mismanagement by Peter and Allcard. On the other hand, in order to prevent other cases of corruption in the bank, Waterloo requires establishing a competent and independent investigative agency that aims at investigating corruption and other mismanagement practices in the merchant bank. These are some of the measures that Waterloo can focus on while dealing with the case of Peter and All card.

    Both peter and Allcard face the case for engaging in the mismanagement of the bank’s resources (Gurusamy, 2009). This party faces a case that has solid evidence. This is because the mismanaged resources were from Allcard’s position. On the other hand, Peter was a friend to Allcard implying that mismanagement of resources involved the two workers of the bank. According to the legal requirement of the case, Peter needs to establish a relevant method of dealing with the filed case. They should be able to account for resources and as well establish liable evidence pertaining their case (Gurusamy, 2009).

    Following Waterloo’s decision of filing the case, there are some advantages and disadvantage attributed to their decision. The company will be able to focus on workers engaging in corruption activities (Gurusamy, 2009). On the other hand, it will be able to recover their mismanaged resources. Auditing done on the bank’s books of finance aids at establishing a clear method of handling and identifying the amount of mismanaged resources. On the other hand, there is transparency after auditing since the practice is independent and not influenced by the management of the bank. However, on the other hand, there are some disadvantages attributed to the case. The bank’s books of record will be given to an external audit while determining the quantity of the mismanaged resources (Gurusamy, 2009).

    Waterloo case, which involves resource mismanagement done by the bank’s leaders shows how leaders engage in corruption cases while in the leadership of companies and as well banks. This case is legally applicable as it gives Waterloo a chance in recovering its mismanaged resources.

Gurusamy, S. (2009). Merchant banking and financial services. New Delhi: Tata McGraw-Hill Education.