Fee compression is one of the most significant aspects of this sector. Specifically, investors want more for less. And whilst this isn’t new, it has certainly become the pre-eminent feature.
This has in part lead to the industry moving away from actively managed funds to less expensive, passively managed funds directed by artificial intelligence (AI). This move to automation however does not alter the fact that regulation plays a critical part. However regulation in a AI world does look different. The continual change in the makeup of the UHNW (ultra-high net worth) individual is also changing along with international tax reforms.
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The industry continues to be affected by the global regulatory environment. MiFID II and GDPR being two. Technology is impacting on the industry with almost all players now making use of big data analytic tools and expertise.
Organisations are harnessing the power of the data they hold to forecast markets behaviour in order to make swift and accurate securities valuations. When combined with AI (artificial intelligence) or ML (machine learning) more accurate predictions about the way a market may behave can be discovered. PE and alternative investment firms partner work with us to secure the talent they need throughout the investment life cycle and to drive profitability of their portfolios.
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The Retail Banking industry is evolving at a significant pace as companies compete to provide consumer-driven technology solutions to an increasingly digitally savvy and demanding customer base.
Consumers are vocal in their requirements for services and financial products that are congruent with their lifestyles. Yet this presents data security challenges. At the same time this sector remains under the media spotlight and subject to scrutiny by governments and regulators. Banks need to validate their risk profile whilst engaging with consumers.
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The sector most effected by the financial crash, the capital markets industry has also been impacted by technological advances. It is also characterised by greater caution.
Banks are pushing for digital transformation with emerging technologies playing their part in respect of DLT, RPA and AI. Data management is a key watchword with the development of cloud and SaaS services exploding. This digital transformation comes with a risk, and cyber security continues to be an area of strategic importance. The roles therefore offered in this area of finance are varied and wide ranging.
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The wealth management sector has experienced remarkable change over recent years. In part down to the challenging competitive environment but also due to the unpredictable economic climate.
Fierce competition, fee compression, tighter regulation and changing customer needs all combine to create numerous challenges. Specifically, as technology develops, organisations need to be agile enough to react to enhance the overall experience of their customer base alongside that of their wealth managers. We work with wealth management companies as they navigate the numerous and complex compliance mandates that they now face.
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Over recent years, the opportunities for fast-tracked growth and enhanced bottom-line profits have been tough.
But insurers can take advantage of growth opportunities, operational improvement, and expense reduction if they can overcome the internal and external challenges. The emergence of InsurTech as an agent of change, is reshaping the strategic agenda. So whilst we work with our clients on more traditional roles, we are also focussed on supporting those organisations who are developing their AI, personalisation, blockchain and digital experiences.
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The legal industry has experienced rapid growth and challenges in equal measure over the past decade.
The increasing use of in-house legal counsel alongside a growing number of entrants (many non-traditional) into the market has increased the pressure on all firms. From digital transformation, to revamping overused pricing and product structures, we work with those firms who are embracing the adjustments required to remain competitive.
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As the global demand for accountancy, audit, and tax services shows no sign of abating, the necessity to attract the best specialists has never been more important.
Whilst the sector has seen impressive growth since the economic crash, accountancy practices are under pressure to modernise their services and provide value add. Firms now require professionals and leaders with not just the technical talent, but the ability to exploit new technologies to develop the client experience and improve workflow. At the same time the increasing regulatory environment means that quality of service must be at the centre.
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Management consulting is a client-driven industry. But this means that as the needs of clients change, so must the sector.
We work with firms who are committed to adapting quickly, whether that be in terms of services, structures, operations or technologically. From digital transformation, to revamping overused pricing and product structures, we work with those firms who are embracing the adjustments required to remain competitive.
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Fintech has pervaded through every sector of financial services and beyond over the last few years.
This has meant that the pace of development has needed to be fast, as the traditional players compete with more responsive entrants into the market. This is especially obvious within the areas of Mobile and E-Commerce. We work with our clients to secure the digital talent needed to drive transformation and growth. We do this across the fintech industry in addition to management consultancies, start-ups, and private equity firms.
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If ever a sector was impacted by cyber security, digital and technological advancement, it would be the cards and payments sector.
No longer simple “payments” the area has become multi-faceted in its own right, to include Payments, e-Commerce, Alternative Payments, Blockchain/Crypto-currencies, Merchant Services, Risk/Fraud and Security.