The KPMG 2024 Asset Management CEO Outlook provides a comprehensive analysis of the current state and future prospects of the global asset management sector.
Conducted by KPMG Global, this thought leadership piece offers valuable insights that are particularly relevant to the Irish market, highlighting the key trends, challenges, and opportunities that asset management CEOs are focusing on.
The report reveals a cautiously optimistic outlook among asset management CEOs, with 80% expressing confidence in their company’s growth prospects over the next three years.
Despite the lingering uncertainties in the geopolitical and macroeconomic environment, there is a clear focus on maintaining profitability while managing costs and investing in future capabilities.
A significant portion of the report is dedicated to the role of generative AI (Gen AI) in transforming the asset management sector.
With 75% of CEOs prioritising investment in Gen AI, the technology is seen as a key driver for enhancing operational efficiency, improving fraud detection, and personalising customer service.
However, the implementation of Gen AI comes with its own set of challenges, including ethical considerations, technical capabilities, and regulatory compliance.
The asset management sector is also experiencing shifts in workforce dynamics. CEOs are keenly aware of the need to attract and retain talent, particularly those with the skills to support technology-driven transformations.
The report indicates a strong preference for in-office work, with 70% of CEOs expecting employees to return to traditional office settings. This shift is accompanied by incentives for employees who make the effort to return to the office.
Environmental, Social, and Governance (ESG) factors continue to be a major focus for asset management CEOs. The report highlights that 62% of CEOs have fully embedded ESG into their business strategies to create increased value.
The commitment to ESG is driven by both regulatory demands and the recognition of its importance in building customer relationships and enhancing brand reputation.
To navigate the complex landscape, asset management CEOs have outlined several strategic priorities. These include advancing business digitisation, executing ESG initiatives, and pursuing inorganic growth through mergers and acquisitions.
The emphasis is on creating a balanced approach that addresses immediate challenges while positioning the organisation for long-term success.
The KPMG 2024 Asset Management CEO Outlook provides a detailed roadmap for asset management leaders as they navigate the evolving landscape. By focusing on innovation, workforce dynamics, and ESG initiatives, asset managers can position themselves for sustainable growth and success.
We invite you to explore the full report and gain deeper insights into the strategies that will shape the future of asset management.
If you have any queries related to the findings of the KPMG 2024 Asset Management CEO Outlook or how these insights can be applied to your organisation, please don’t hesitate to contact our team below. We’d be delighted to hear from you.
