Optimism among financial services firms fell sharply in the third quarter of 2018, amid growing pressure from a subdued economy, Brexit, regulation and rapid advances in technology, according to the latest CBI/PwC Financial Services Survey.
The quarterly survey of 100 firms found sentiment was particularly bad among asset managers and banks in the three months to September, with overall optimism having declined in all but one quarter since the start of 2016. Polling of respondents took place on a 'balance' basis, whereby the final figure is the difference in percentage points between the weighted percentage of firms' answers. The report found a 62% decline in optimism in the investment management sector over the quarter amid a 70% increase in firms reporting an increased cost of overall business. Asset managers and ba...
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