It is the language that unifies global strategy with tactical execution in an increasingly competitive global market for financial services. And one that speaks to future performance potential more clearly than any other.
It is the language of talent.
The View From New York: A Retrenchment Of The Financial Services Landscape
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Recent workforce downsizing by some of Wall Street's largest employers have elevated concerns that the tumult in the U.S. economy could lead to a 20 percent cut in the financial services labor pool. But since the financial impact is spread across investment banking, asset management and capital markets, each with its own competitive pressures, the long-term consequences of this market realignment are still unclear.
"Wall Street over hires and they over fire and the same thing will happen now," says Jay Sterling, senior consultant with Cromwell Partners/Transearch in New York City. "There's a huge amount of interest in financial services, so there's neither a net influx nor an outflow of talent out of the United States".
Europe Braces For U.S. Fallout, But Gains Clout As Bridge To Eastern Markets
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Uncertainty about the magnitude and reach of tremors that will invariably extend from the financial services sector in the United States to the United Kingdom and continental Europe have already unsettled the significant investment banking market in London.
Stanislav Alexeyev, Managing Partner with Transearch Russia, says: "Over the past three years, the financial services sector has been booming. Most of the key global players either entered the market or re-launched their businesses in Russia, especially those in investment banking and consumer banking. At the same time, asset management and insurance have predominantly remained under the control of local players. As a result, the most significant movement of talent has been in investment and consumer banking."
The Rising Tiger: India Emerging As A Global Force In Financial Services
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The growing influence of the Indian economy is fast becoming a global platform for new growth in financial services, and three significant drivers are now driving this increasingly diverse sector of its markets. They are economic growth, demographics and regulation, says Anjali Forbes, a partner with Transearch India in Mumbai.
Long a significant net exporter of management talent, the burgeoning financial services market in India is attracting global pools of financial services talent to help address the booming corporate and consumer demand. India is already luring many expatriates back to their homeland and this long-standing tradition of exporting talent may reach a more level playing field in the years to come.
Interpreting Financial Services Maturation Across China, Asia And Beyond
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"The financial services market is maturing and segmenting much more quickly in the emerging markets of Asia than it did in the West," says Vincent Swift, Asia Pacific region chairman of Transearch International. "The level of sophistication in financial services and other markets that evolved over 200 years in the West is developing in a much shorter time frame in Asia."
"The war for talent is being brought forth in Asia, but the fiercest heat of battle is in the two sectors that are growing the fastest and globalizing the fastest and becoming as sophisticated as their Western counterparts - and those are financial services and information technology," Swift says.
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