Financial services leaders positive about future under new govt

Two thirds (67 per cent) of financial services leaders are more positive about the sector’s future growth under the new government, research from KPMG has revealed. (Source FT Adviser)

KPMG’s latest UK Financial Services Sentiment survey, which included 150 leaders from the banking, insurance, asset, wealth management, and private equity sectors, found that the industry is now “more optimistic” about its future.

The survey revealed that almost two-thirds (61%) of leaders feel more positive specifically about the global competitiveness of UK financial services under the new government.

When asked about the reasons for their optimism, 23% of respondents attributed it to the positive relationships the new government has with industry bodies and regulators. Additionally, 22% mentioned the new government’s “clear plan” to grow financial services.

Karim Haji, KPMG’s global and UK head of financial services, commented, “A change of government always marks a new chapter for the country and one of its most important sectors.

“Most financial services leaders are expecting a brighter future under the new government, buoyed by both the prospect of national change and continuity of financial services policy and reform.”

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