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Despite the global financial crisis of 2007-2008 and the controversies that have rocked the investment banking industry ever since, most investment banking clients have stayed with their investment banks. What is more, most would still recommend their primary investment banking provider. These are among the findings that Accenture, working with the polling firm YouGov, has revealed in a survey of fund managers and corporate executives.
In this in-depth report, Accenture gives a detailed look of the key findings from our Investment Banking Client Survey.
Financial services organizations have been through a period of exceptional turmoil. With revenues being driven down, banks have been forced to cut costs. Controlling costs remains an absolute priority for investment banks, but so too does finding new areas of growth.
Understanding where investment banking clients are finding value, what services clients expect, and what services and products they are willing to pay extra to receive, can give investment banks the critical upper hand.
Which services are of greatest value to investment banking clients? This was just one of the questions put to 100 fund managers and corporate executives across the United States and the United Kingdom.
The key survey findings reveal:
Clients are generally satisfied. The vast majority of investment banking clients would recommend their main investment bank to others.
Risk management is critical. Risk management services in all forms are a clear priority for investment banking clients.
Basic services are in demand. Investment banking clients value basic trading services, execution performance and analytics.
Provision of research is still central to investment banking relationships. Research remains a core product, although standard written reports are valued far less than access to analysts or corporate executives.
Asset manager clients value electronic trading. Most asset managers use electronic trading in addition to traditional channels, and often specifically to pay for research.
Interest is growing for big data and analytics. Of the Social, Mobility, Analytics and Cloud (SMAC) technologies, analytics/big data is of the most interest to clients at present.
Some clients have noticed service cuts. Some clients have noticed certain cuts in differentiated services that investment banks have been forced to make due to expense reductions.
Coordination of service is important. Our research shows a majority of banks perform this function well.
Clients are well aware of regulation and the costs their investment banks will incur in complying with increased regulation.
March 27, 2014
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