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25 years, 25 CEOs: John Flint, CEO, HSBC Global Asset Management
09 January 2012
To celebrate its 25th anniversary, Global Investor/ISF interviewed 25 CEOs. John Flint says the potential of emerging markets is a bright spot for a chief executive who fears that a savings gap and an increasing regulatory burden spell problems for the asset management industry
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25th anniversary
John Flint
HSBC Global Asset Management
The increase in regulatory burden over the next few years is more likely to focus on banks than asset managers. While we welcome additional protection for the consumer, it is possible these increased regulations lead to a greater regulatory burden on distributors of funds to the retail market, increasing the costs of doing business without reducing the risks involved.
We already have a significant savings gap with people not saving at all or putting their cash on deposit rather than investing. If the cost of advice (or the bureaucracy associated with it) increases too precipitately, a further swathe of people may be squeezed out of the investment market or pushed into higher risk investments such as direct investment in equities.
The industry will need to be clearly seen to focus on investment outcomes,...
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