Regulation will continue to be the greatest challenge for the global finance industry over the next five years, according to a survey conducted by Kinetic Partners of senior figures in the Asian asset management, investment banking and broking industries.
A fifth of respondents believe that liquidity will be a greater challenge, whilst 15% anticipate that ineffective governance will cause the most trouble for the industry in the coming years. Restrictive tax regimes are not considered to have a significant impact on the global industry, according to the poll.
Singapore is emerging as an increasingly popular financial center with 40% of respondents selecting the country as a preferred business location in the Asia-Pacific region, compared to 35% choosing Shanghai and just 3% opting for Tokyo.
The Asia-Pacific region is clearly a hub of growth for the financial services industry and a dynamic and exciting place in which to be operating, says Julian Korek, founding member of Kinetic Partners. Cautious hope for a strong year for Hong Kongs stock market is promising and hopefully this confidence will spread to the wider Asian market. The continuing concern for the impact of heavy regulation on the health of the global financial services industry remains a worry for the future growth and success of our sector.
The survey was conducted recently following the opening of the Hong Kong office of Kinetic Partners.
(CG)