Future Landscape of the US Financial Services Industry
On September 17th, John Gustav, Partner and Financial Services & Strategy Practice Lead was invited to address the USC Marshall Alumni Association to present his views on the future of the US Financial Services Industry. The event was organized by the New York Chapter of the USC Marshall Alumni Association and held at the WeWork Madison office in New York City.
Mr. Gustav provided insight into the current state and key issues of the US Financial Services Industry with a particular focus on regulatory developments that are dominating the attention of the industry such as Dodd-Frank and Basel III. He outlined the general effort to de-risk the industry and explained the industry wide impacts from Wealth Management to Retail Banking and Insurance. Based on GMG’s experience with industry leaders, he emphasized the push towards holistic change programs and the development of agile and scalable operating and technology models to help Financial Services Firms optimally manage the changing industry and regulatory landscape.
Projecting a positive outlook for the industry, Mr. Gustav emphasized the limitations of “Post-Crisis” piecemeal change programs and the criticality of implementing meaningful and holistic change within Financial Services Organizations that GMG has helped many clients realize. Firms that achieve this will be better positioned to reap the full benefits when economic tail winds pick up and be better able to manage operating under the new regulatory regime.