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The continuing economic fallout stemming from Covid-19 restrictions sees financial services leaders lowering their revenue expectations for 2020 and preparing to cut operating budgets ahead of a challenging 2021, according to a new snap poll organised by Luxembourg for Finance.
Following on a survey conducted in May 2020, Luxembourg’s development agency for the financial services industry, in October, asked nearly 400 senior or c-suite executives working at international financial services firms – including major banks, asset managers, insurers, and private equity firms – for their views on the macro economic situation. With one quarter of respondents seeing the operating environment becoming more volatile and major disruptions ahead, the results revealed:
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