The asset management industry is certainly facing multiple challenges presently, which will have a great influence on the future of the industry as well as individual companies.
In this 30-minute presentation, Cyrus Taraporevala, President and CEO of State Street Global Advisors shares his interesting perspectives what opportunities are available in the next ten years for those asset managers who are able to adapt.
Some interesting point that I took from the talk:
- Data scientists and technology experts will outnumber economists and finance graduates actively employed in asset management in the next ten years.
- A company's ESG rating will become more important than their credit rating.
- Companies with long-term sustainable visions as an asset class will be preferred over those that are founded with the aim to fudge their success through short-term bounces.
- Retail investors will at some point be able to efficiently access private equity markets - access which at this point is only available to much bigger investors.