This past year has been a turbulent one for External Asset Managers (EAMs) and private banks. Brexit, increasing regulations, fee pressure, sluggish growth in assets under management (AUM), and declining net new assets (NNA) and revenue margins – are all very serious threats to continued survival. Many banks are reacting in a conservative way and are playing the wait-and-watch game. They are focusing on cost-cutting until the market conditions are clear. On the other side, some banks have decided to use this period strategically for growth and revenue increase with bold decisions and investment for when the market picks up.
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