LOBUE ASSOCIATES ACQUIRES DAVID ROSS PALMER CONSULTANTS INTERNATIONAL CHICAGO, IL, January XX, 2000 -- Financial services consulting firm LoBue Associates has announced the acquisition of David Ross Palmer Consultants International (DRPCI), a leading bank consulting firm in the area of affluent and wealth markets. "The added expertise of DRPCI enables LoBue Associates to offer a comprehensive consulting approach to wealth management, private banking and trust companies," said Allan Morehead, principal and director of LoBue's wealth management practice. "We've expanded our capabilities from operations design and implementation to break-through revenue building strategies and sales and management training." Joining LoBue Associates are DRPCI's David R. Palmer and Richard G. Scheide. Previously, Mr. Palmer was a senior executive in strategic planning and line sales management at Merrill Lynch & Co., where he was also a member of the company's broker-dealer board of directors. Mr. Scheide, before entering management consulting, was an executive vice president with Bank of New England/Fleet with responsibility for private banking services and oversight for all trust operations, including institutional and employee benefit services. Mr. Sheide is also a former chairman of the ABA's Trust and Investment Division. An immediate result of the LoBue/DRPCI merger has been the development of a new business model to assist institutions in capturing and retaining revenue from the wealth market, which is currently growing at an estimated annual rate of 7.8 percent in the U.S. The model, named "Total Business Performance," incorporates a full spectrum of services from revenue planning to sales/operations design and execution with the goal of developing a client's high net-worth market profitably. "The sharp growth in the high net-worth market, combined with declining bank share of market and wallet, means tremendous lost opportunity for banks in undeveloped business among their most valuable individual clients," said Morehead. "We're approaching the market by going to the decision-makers with clear action steps to take in recapturing the millions of dollars of highly profitable revenues their own high net-worth clients are giving to the competition." Founded in 1981, LoBue Associates, Inc. is a member of the LoBue Group of companies, providing consulting services to leading banks and financial institutions. The firm has conducted more than 300 consulting projects in 38 countries, providing business design, on-site project management and execution, and training and development services. Specializing in the financial services industry, LoBue has extensive experience in retail banking, finance companies, private banking, mortgage banking, corporate banking, international banking, insurance and technology. The firm has offices in Northbrook, Ill., New York and Las Vegas. return
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