Economic Actors and Practices in the World City Network
Edited by Michael Hoyler, Christof Parnreiter and Allan Watson
Chapter 9: Chasing the phantom of a ‘global endgame’: the role of management consultancy in the narratives of pre-failure ABN AMRO
This chapter examines the effects of advanced producer services on ABN AMRO’s corporate strategy leading up to the bank’s failure in 2007. Our historical reconstruction reveals how consultancy-inspired narratives about globalization, consolidation and shareholder value structured the bank’s geographies of risk and opportunity. Located in Amsterdam, a second-tier global city, ABN AMRO acted upon interpretations of a worldwide merger and acquisition craze that was framed as ‘the global endgame’. This narrative legitimized shareholder-value-inspired reorganizations and valuation metrics that contributed to the bank’s eventual demise. The chapter shows how multinational corporations, facing shareholder pressure, utilize strategic management consultancy narratives to legitimize their decisions to stakeholders. Yet, the bank’s eventual failure also illustrates the limits to the agency of global city makers such as bankers and consultants as this agency is constrained by credibility in financial markets and wider positionality in a system of financial centres.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.