There is no doubt that the experience of the last two years will cast a shadow on financial services as it endeavours to return to level flight. The challenges now being faced are familiar to many, and highlight the need to focus on the core strategic business.

In this issue KPMG partners explore the challenge for businesses to return to a new ‘business-as-usual’, to develop a competitive business model, manage risk, build a winning brand and compete profitably and cost-effectively in the changing landscape.

We look at going ‘back to basics’ for retail banking, managing cash more effectively in the insurance industry and the new challenges of tax policies.

Delving into the effects of the crisis in various countries, we explore how South Korea is moving forward, growing private equity in Israel and the changing priorities for banks in Russia.