Australia has a sophisticated financial services sector, boasts a comparatively strong economy and is well positioned as a financial hub in the world's fastest growing region.
Australia has a sophisticated financial services sector, boasts a comparatively strong economy and is well positioned as a financial hub in the world's fastest growing region. Yet the sector faces unprecedented challenges, many of which stem from the global financial crisis. The pace of growth has slowed, trust has been eroded – particularly in international markets – and the sector is in a rebuilding phase that will likely continue for some years. Every financial services organisation faces the challenge of re-engaging customers, increasing profitability and identifying opportunities for growth in Australia and globally. That's the work PwC is doing right now.
Our teams work across all segments of financial services – commercial banks, non-bank lenders, investment banks, insurers, superannuation funds, asset managers, infrastructure and private equity investors, property groups, advisers and regulators. We operate at a global level to match our clients’ businesses, working with Australian financial services organisations with international operations, and international organisations with operations in Australia.
We have large multi-disciplinary teams who work across all aspects of financial services. Our team members are experts with local and global experience in assurance, tax, strategic advice, transactions, and consulting.
The insurance industry is as competitive as ever with all elements grappling with the effects of various drivers of change, including changes in social behaviour, developments in technology, long term low economic growth prospects, volatile weather patterns and events, and a continually evolving political and regulatory environment.
Findings from the report, Shifting Demands, Competing Priorities: Adjusting to the New Talent Realities in Financial Services’, are based on a PwC survey of 490 FS CEOs, and forms part of the firm’s 19th annual Global CEO Survey of over 1,400 CEOs in 83 countries, show FS CEO’s confidence in the prospects for the global economy, their own growth potential and plans for increases in headcounts have all declined since last year’s survey.
Innovating for growth provides analysis of Australia's four major banks year-end results and insights into what's underpinning performance, what's threatening to disrupt it and how the innovation imperative requires a change of pace.
The Project Blue framework considers the rise and interconnectivity of emerging markets and state-directed approaches to economic development. It also examines the impact of new technology, demographics, changing customer behaviour and mounting pressure on the world’s most critical natural resources.