Investment managers are positive about the future and are focused on revenue expansion rather than cost cutting, according to the "Global Investment Management Survey" from PricewaterhouseCoopers. The study, based on interviews with chief executive officers from 81 firms around the world with assets of $9 trillion, found that 55% of CEOs believe their revenues will increase by 20% or more over the next three years. This is in stark contrast to the study findings three years ago, when chief executives were looking to cut costs.
"There is continued growth and optimism for entering new markets. Firms are looking at how to retain and expand their customer base, and not highlighting cost reduction," said John Stadtler, a partner in the global investment management practice at PwC.