The investment management sector has suffered an 18-month decline in profitability, according to the Q1 2019 CBI/PwC Financial Services Survey, marking its longest period of decline since 2001/2002.
The report found that during Q1, profitability among participating firms fell by 61% while volumes of business decreased by 80%. Meanwhile, overall optimism fell by 22%. The research team at PwC said this is because "market conditions are putting pressure on fees, and the industry is having to work harder to demonstrate value for money". Financial services sector optimism hit amid 'dangerous signs of strain' "This quarter we are seeing the sector moving away from M&A as a growth strategy and focusing on growing its share in the domestic market by building its customer base," the te...
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