21st CEO Survey: Key findings from the Asset and Wealth Management industry

Optimistic CEOS and buoyant growth, yet disruption looms

There’s great confidence in the asset and wealth management (AWM) industry, but also acknowledgement that times are changing. While CEOs are optimistic about growth, they’re aware that they face challenges, although perhaps not the full extent of them. Those are the inescapable conclusions of PwC’s 21st CEO Survey in which 126 of the sector’s CEOs were interviewed.

While AWM CEOs are optimistic about revenue growth in 2018, they also report seeing a myriad of challenges. This contrast begs the question: Will the extent of potential disruption outpace the time needed to prepare for and react to it?

Accelerating technological change, more demanding customers, embedding the blizzard of new regulation – these powerful forces will transform, and perhaps terminate, some of the sector’s traditional ways of operating. The survey’s findings echo the recent report, “Asset & Wealth Management Revolution: Embracing Exponential Change,” which estimates that by 2025 global assets under management will have almost doubled – rising from US$84.9 trillion in 2016 to US$145.4 trillion.

Yet certain AWM CEOs seem to underestimate the widespread industry reinvention under way, with major changes to fees, products, distribution, regulation, technology, and people skills, and how a failure to properly navigate these changes may cut into assets under management and eventual profits. Perhaps this is due to the disparate nature of the sector. It ranges from global giants to active and alternative investment boutiques. Many AWM participants in PwC’s 21st CEO Survey lead relatively small shops, reflecting the entrepreneurial nature of the industry.

Read the full study

Contact

Jean-Sébastien Lassonde
PwC | Partner, Swiss Leader Asset & Wealth Management
Office: +41 58 792 81 46 | Mobile: 41 79 598 57 38
Email: jean.sebastien.lassonde@ch.pwc.com

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Jean-Sébastien Lassonde

Jean-Sébastien Lassonde

Jean-Sébastien is the leader of PwC Switzerland Asset & Wealth Management practice and has over 19 years of experience in serving clients in the Asset & Wealth Management industry.

Jean-Sébastien is a subject matter expert for Wealth Management and Asset Management where he became an expert for investment advisory and portfolio management front-to-end business processes and controls on a wide range of clients.

Jean-Sébastien is a graduate of HEC Montreal and qualified Chartered Public Accountant (CPA) in Canada. He is also a US Certified Public Accountant (CPA), an Associate Chartered Accountant in the UK (ACA), a Chartered Financial Analyst (CFA) and a Chartered Alternative Investment Analyst (CAIA).