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Penney |
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| London |
Penney Frohling is a Partner in Booz & Company’s Financial Services practice, based in London. She has spent over 14 years in consulting and prior to that had 10 years’ experience in Citibank’s consumer banking division, focused on retail banking, wealth management and investments.
Penney's key areas of expertise include business strategy development, market entry strategy, and organisation transformation.
Examples of major projects include:
- Leading European Independent Financial Advisor: Turn-around of UK subsidiary, including 30% reduction in cost base and divestiture of four non core businesses; recapitalisation of balance sheet by €30M; sales force productivity optimization; business process re-engineering; and design of a new strategy, including products, investment proposition and advice model.
- Global Consumer Bank: Optimisation of credit card portfolio performance via short, mid, and long-term strategy for repricing, product development, client acquisition, and distribution.
- European Consumer Bank: Strategy and implementation of direct banks in key European markets to increase retail deposit gathering and mitigate dependence on wholesale funding markets.
- UK Consumer Bank: Turn-around of Spanish subsidiary targeting expatriate banking segment, with focus on mortgage lending. Included end to end business review on customer base, competitive positioning, branch placement, lending procedures, account opening processes, synergies with UK operations.
- Global Wealth Manager: Strategy for launch of on-shore private banks in eight countries. Detailed market sizing and segmentation; analysis of tax and regulatory policies and impact on product growth and funds flow.
- UK Mutual: “Reinvention” of one of UK’s oldest mutuals from with-profits provider to focused player in the pension decumulation space. Identified major trends and emerging “white spaces” in post-retirement sector targeting the mass market and mass affluent segments. Design and launch of new business model, investment proposition, processes, IT infrastructure, organisation structure, and products.
- Life & Pensions Corp: Turn-around of Luxembourg domiciled subsidiary of European Life & Pensions company operating in six countries across Europe which was suffering rapidly declining profits and sales volumes due to changes in market conditions and local tax regulations. Required rapid diversification of business via launch of new products supported by new business operating model.
Penney holds an MBA from IMD Business School in Switzerland.