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Olympus Global Executive Recruiting Banking
Olympus Global Executive Search and Recruiting Human Solutions For The Global Community

Banking in 2013 & 2014

In 2013 the banking industry experienced a strong recovery after the worst of the financial crisis receded, but continued to be weighed down due to the ongoing Eurozone crisis and concerns of sluggish growth in the United States. An evolving banking landscape in emerging economies (especially China and Latin America) is expected to transform the banking industry in the future. Meanwhile, regulations continue to evolve and create an ever-tightening regulatory environment for the banking industry.

Top priorities included regulatory compliance, improving asset quality, enhancing customer centricity, focusing on digital convergence, and tackling competition from non-banks. Banks are therefore making hiring decisions related to business and technology investments to change their business models to comply with new regulatory requirements, enhancing capital adequacy, rolling out new channels such as social media, and leveraging customer data analytics and predictive analytics to enhance customer understanding and prevent fraud.

In 2014, banks are likely to continue sharpening this strategic focus while concentrating efforts in areas where they believe they have the best chance of boosting return on capital. As firms begin to pivot toward growth, they will be challenged to remain relevant to their clients, realign business models, adjust to recent regulations, and attempt to innovate for growth. Firms will also continue to make strategic decisions, driven by capital constraints and demands for improved return on equity, divesting or acquiring in areas where they believe they can compete and win.

Firms that are able to institutionalize compliance in an effective and efficient manner will be able to create competitive advantages, allowing them to best pursue their growth agenda. Most important to this will be building agility in the minds of their staff and management in this evolving business environment. Acquiring and developing leadership expertise – especially in operations, technology, finance, and compliance – will be a priority and also a challenge, as these resources are in high demand.


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Email: info@oexec.com