Investment - Articles - Post-referendum drop in optimism for asset & wealth managers

 Mark Pugh, UK asset and wealth management leader at PwC, commented: “The referendum result undoubtedly shook the investment markets but there has been a turnaround since then and firms are beginning to return to normal and view the UK’s decision to leave the EU as another important consideration in a long list of challenges.”

  

 “As the industry-wide pressure to cut costs and streamline operations continues to build momentum, asset and wealth managers are looking to technology to help differentiate, speed-up and future-proof their business.”

  

 Market volatility is not the only challenge facing the asset and wealth management sector and compliance with regulation remains a key consideration for all players in the market.

  

 The survey also shows that asset and wealth managers intend to slow the rate of their recent hiring spree, reflecting an ongoing pressure on margins. Heavy investment continues to be made in other areas, with new technology and outsourcing of non-core businesses being used to strategically streamline costs.