A survey conducted by Kinetic Partners of over 90 senior figures in the asset management, banking and broking industries shows a lack of confidence in future structures for regulating financial services in the UK.
Nearly two-thirds (65 per cent) were not confident that the post-Financial Services Authority structures within the Bank of England will be better than the existing situation.
In addition, 57 per cent cited regulation, including the impact of different global standards, as being the greatest challenge to the asset management industry over the next three years.
Over 80 per cent of respondents believe that London will maintain its pre-eminence as the centre for the asset management industry over the next three years.
In terms of global growth, 79 per cent predicted that the Asia Pacific will experience the most dramatic growth over the next five years.
Julian Korek, a founding member of Kinetic Partners, says: “We work in an exciting, dynamic industry at best, but the last two years have been, without a doubt, two of the most turbulent years for the financial services in decades. It is interesting to note that as an industry we are still unsure as to the most appropriate regulatory structures to ensure the success and growth of our sector.”
Kinetic Partners is a professional services firm providing forensic, corporate recovery, regulatory risk and compliance, tax and audit and assurance services to the asset management, banking and broking industry.
