Yesterday I said something better change, and it is.
This blog has covered extensively how things are changing in payments, retail and commercial banking, but I haven’t covered investment banking or asset management as much.
So here's an insight sourced from yesterday's Financial Times. According to a poll of 400 senior executives by State Street, the custodian bank, four-fifths of senior asset management staff expect the fund market to be disrupted by an outside participant in the same way Apple upended the music industry with the introduction of iTunes. 79% fear they will face direct competition from a non-traditional entrant to asset management.