Fund management industry “off life-support”

Recovery_webCompared with other industries, including banking and insurance, investment managers are bullish about growth opportunities according to KPMG. In a report -"Succeeding in a Changing World" – 48% of the 105 CEOs and finance directors from investment management companies in Europe, the Middle East and Africa said pursuing growth through successful transactions was their number one priority. This is in contrast to other areas of financial services, including banking and insurance, where only 32% and 29% of respondents respectively, identified this as a priority. Addressing risk through the organisation and changing business operations to realise cost efficiencies were named as the other top issues for investment managers. Tom Brown, European head of investment management at KPMG, said: “Things are looking up for the investment management industry. Players are moving off the life-support systems that kept them ticking over six months ago, and they have now entered a strong recovery phase. Growth is very much back on the CEO agenda and as banks and other financial institutions spin out their asset management businesses, investment managers are looking to snap up acquisitions as they come to market.” ©2012 funds europe

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