Surge in confidence
Banking & Capital Markets CEOs are more upbeat about the prospects for the global economy than any other sector (56% believing it will improve over the next 12 months). Their confidence is evident in the fact that more than half are planning to increase headcounts over the next 12 months, most by at least 5%.
Industry leaders recognise the rapid changes in their market
Banking & Capital Markets CEOs see technology, demographic changes and shifts in global economic power as the trends most likely to transform their businesses over the next five years.
But capabilities aren’t responding quickly enough
Less than 40% of sector leaders believe that their sales, IT, HR, R&D and customer service functions are well prepared for the transformational changes ahead. Less than 40% have initiated plans to capitalise on these trends in the key areas of distribution, data analytics and innovation capacity.
Industry leaders call for more stable regulation
Banking & Capital Markets CEOs see over-regulation as the biggest policy threat to growth. They would prefer regulations that are clear and designed for the long-term.
Cyber insecurity seen as key threat
More than 70% of Banking & Capital Markets CEOs see cyber insecurity as a threat to growth, more than any other sector.
Leading from the front
Success in this market demands leaders who can manage through uncertainty and complexity as they seek to deal with regulatory change while preparing for the future. This in turn demands a clear sense of who their key customers and markets are going to be in five years’ time and what investments and changes will be needed to respond. It also requires a forward looking view on how regulation will interact with the other transformational trends in areas such as cost, returns and the ability to meet customer expectations.
Chairman, HSBC Holdings Plc.
Sergio P. Ermotti
Group Chief Executive Officer of UBS