Opalesque Industry Update - A survey conducted by Kinetic Partners of senior figures in the asset management, banking and broking industry shows a lack of confidence in the future structure for regulating financial services in the UK. Two-thirds were not confident that the post-FSA structure within the Bank of England will be better than the existing situation. |
In addition, 57% cited regulation, including the impact of different global standards, as being the greatest challenge to the industry over the next three years. Over 80% of respondents believe that London will maintain its pre-eminence as the centre for the industry over the next three years. In terms of global growth 79% predicted that the Asia Pacific will experience the most dramatic growth over the next five years.
The survey was conducted this week at Kinetic Partnersí 5th anniversary event at the Museum of London. Over 400 members of the asset management, banking and broking industry gathered to celebrate the Firmís success. In 2010 alone, Kinetic Partners has enjoyed growth of over 25% in terms of revenue and clients. The Firm expects continued growth and plans to expand their reach further by entering the Asia market, with a Hong Kong office set to open early 2011.
Julian Korek, a Founding Member of Kinetic Partners, said: ďWe 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 of concern to note there is such uncertainty in the market as to the most appropriate regulatory structures to ensure the success and growth of our sector.Ē