About the Book
What a dramatic set of changes we have all been through as the global economic engine has had to adjust to new realities. The credit crisis triggered by the subprime mortgage market in the United States quickly spread to other credit products, and it ultimately threatened not only the U.S. banking industry but also the global economy. This near-disaster impacted financial institutions throughout the world and changed the banking landscape in an unprecedented fashion through consolidation, bailouts and new government regulations, to name a few. The “Too Big to Fail” thesis has given way to the seemingly more prudent, community-based institutions that largely avoided the subprime crisis. These institutions have demonstrated that they represent a unique pillar of economic stability.
Now is the perfect time for the leaders of these community-based institutions to seize the day and lead the financial services industry back to the center of economic vitality and drive global economic growth, one community at a time. In Too Small to Fail, Louis Hernandez, Jr., who has spent his career in the financial services industry, issues the call to action: “Do you have the extraordinary drive it will take to inspire the industry and bring financial institutions back to their place as trusted intermediaries?”
This book reflects on the pace of change that impacts all aspects of how we live, its implications on the financial services industry, and the unique interrelationship of recent history and the current state of the financial industry. It also lays out a path to navigate the future that will ultimately reposition the industry and individual institutions for long-term success.
Louis urges leaders of community-based financial institutions to take action today. “No one is standing up for you; you need to lead the charge and inspire your community.”
His book shows the way … and the means to do it.
Order your copy today. Net proceeds from the book are going to a charity which supports advances in healthcare and education and provides opportunities for children.
"Overall, I found the book fascinating! It was a well-researched walk through time (and around the globe) that helped me better understand our current situation with actionable steps for what we should be doing today. I’m making sure everyone on our management team reads a copy." - Larry F. Tobin, President and CEO, FAIRWINDS Credit Union
“Louis Hernandez offers a compelling look at the financial services industry and the impact the recent financial crisis has had on the world. This innovator and business leader suggests opportunities that we should take in order to thrive in this new era. This is a must read!” -Christina C. Brown, President and CEO, Gesa Credit Union
“Louis convincingly builds the case that community financial institutions have a remarkable opportunity to redefine what has become a commoditized environment: retail banking. The global and large regional financial institutions are saddled with expensive and inflexible technology platforms. The community-focused banks and credit unions can redefine and reinvent the retail banking experience. He lays out a road map for such a transformation.” -Butch Leonardson, SVP and CIO, BECU
About the Author
Louis Hernandez, Jr., is chairman and CEO of Open Solutions, serves on the board of directors of HSBC North America Holdings Inc., and is the author of “Too Small to Fail: How the Financial Industry Crisis Changed the World’s Perceptions.” In “Too Small to Fail,” he suggests now is the perfect time for the leaders of today’s community-based financial institutions to seize the day and lead the financial services industry back to the center of economic vitality and drive economic growth – one community at a time. Much of his writings come from observations he’s made throughout his career in the financial services industry. He is frequently asked to speak to boards and larger organizations on the topics of technology, economics, strategic planning and globalization. He also speaks on how companies can rework their technology infrastructure in order to become more efficient and make better use of their internal assets.
Mr. Hernandez has been featured on Fox Business discussing the TARP program and the importance of community banks and credit unions to the American economy. He was also been featured on TheStreet.com discussing his book “Too Small to Fail,” and in an article by The Wall Street Journal’s David Weidner titled, “Too Small to Fail, Banks Can Drive an Economic Recovery. No, Not Those Banks.” Mr. Hernandez has also had articles published in Finance on Windows, Bank Technology News, eLeader, Credit Union Times, Credit Union Journal, and Bank Systems and Technology.
Mr. Hernandez is Chairman of the Board and Chief Executive Officer of Open Solutions Inc., a leading provider of enterprise-wide enabling technologies for financial institutions. Open Solutions is a rapidly growing software and solutions company headquartered in Glastonbury, Connecticut, with a global client base of more than 3500 clients, approximately 1700 employees and revenues of more than $400 million.
Mr. Hernandez serves on the board of directors of HSBC North America Holdings Inc., the North American holding company for the consumer lending arm and principal banking subsidiaries in the U.S. and Canada of one of the largest banking and financial services organizations in the world. He also serves on the board of directors of HSBC USA Inc., an indirectly-held wholly-owned subsidiary of HSBC North America Holdings Inc. and one of the 10 largest bank holding companies in the U.S. by assets, and its principal subsidiary, HSBC Bank USA, N.A. Mr. Hernandez is a current member of the board of directors of Avid Technology Inc. (NASDAQ: AVID), a publicly-traded company and worldwide leader in providing tools for film, video, audio, 3D animation, gaming and broadcast professionals, as well as Unica Corporation (NASDAQ: UNCA),a publicly-traded company and leading global provider of enterprise marketing management software and services.
Mr. Hernandez is a recognized technology executive having been appointed by the Governor of Connecticut to be vice chair of the Governor’s Council on Economic Competitiveness and Technology as a representative of business with expertise in information technology. Mr. Hernandez chaired the Technology Transfer Advisory board set up by the Governor’s Council to develop strategies for technology transfer and commercialization in the state, is the past Chairman of the Connecticut Technology Council and the former Vice Chair of the Commission for Educational Technology.
Through his private foundation, Mr. Hernandez actively supports children’s issues and advances in healthcare and education. Mr. Hernandez is also involved in several community issues, including serving as a member of the board of trustees of the Connecticut Science Center, a statewide cultural, entertainment and educational institution; and as board member of the Connecticut Children’s Medical Center, an organization dedicated to improving the physical and emotional health of children. The Cystic Fibrosis Foundation named Mr. Hernandez a Community Leader of the Year in honor of all his contributions to the community.