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Financial services sector
 

Financial services sector

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    Financial services sector Financial services sector Presentation Transcript

    • Asset Management Financial services sector An extract from UK real estate insights - Issue 14, November 2009
    • UK real estate insights Financial services sector In each issue of UK real estate The survey, which has been running insights we have been reporting since December 1989, is a quarterly Q1: Optimism versus three months earlier (% balance) survey of the health, perceptions and the results of the quarterly plans of the financial services industry. 60 40 Financial Services Survey which The latest survey for the quarter to 30 20 we produce with the CBI. September has mixed messages for the 0 real estate industry. The financial ­20 services sector is a major driver of office ­40 demand, particularly in London. On the ­60 positive side, financial services firms ­80 showed the first signs of recovery in the 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 last three months, after almost two years of falling business volumes and Q1: Latest +36 Previous +13 Mean +2 (Firms where more optimistic than three months ago) profitability, and firms are now more optimistic. On a less positive note, employment in the sector fell in the quarter and is expected to fall again in Q3 (A): Trend in volume of business (% balance) past 3 months the coming quarter. Falling headcount next 3 months 80 will mean less demand for space. 60 Despite there being some tentative signs 40 of recovery, differences remain between 20 individual industry sectors. Securities 0 traders and investment managers have ­20 seen strong volume growth over the past ­40 quarter, while banks and building ­60 societies expect that growth will resume 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 over the next three months. By contrast, Q3a: Past Latest +7 Previous ­28 Mean +11 (Business volumes grew for the first time since September 2007) life insurers and insurance brokers Q3a: Next Latest +16 Previous +11 Mean +17 anticipate further, albeit slower, falls in business volumes. To obtain a copy of the PwC/CBI survey click here. Continued 8
    • UK real estate insights Financial services sector Q5(g): Trend in overall profitability % balance past 3 months next 3 months 60 40 20 0 ­20 ­40 ­60 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Q5g: Past Latest +16 Previous ­23 Mean +9 (Profitability increased at fastest rate since June 2006) Q5g: Next Latest ­4 Previous ­17 Mean +10 Q5(c&d): Total & average costs (past 3 months) % balance total operating costs average operating costs 60 50 40 30 20 10 0 ­10 ­20 ­30 ­40 ­50 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Q5c: Past Latest ­17 Previous ­22 Mean +6 (Average and total costs both fell during the last quarter) Q5d: Next Latest ­19 Previous +3 Mean ­11 9
    • pwc.com © 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. PricewaterhouseCoopers provides industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 155,000 people in 153 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. This report is produced by experts in their particular field at PricewaterhouseCoopers, to review important issues affecting the financial services industry. It has been prepared for general guidance on matters of interest only, and is not intended to provide specific advice on any matter, nor is it intended to be comprehensive. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers firms do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.