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25 years, 25 CEOs: Helena Morrissey, CEO, Newton
27 January 2012
To celebrate its 25th anniversary, Global Investor/ISF interviewed 25 CEOs. Newton’s CEO is concerned that unless the industry raises its game the regulators will force it to change
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Helena Morrissey
Newton
I think the main challenge for the industry is understanding whether we can deliver against client expectations for the right fee in a low-return world. In the past, we were in a bull market in financial assets; now we are in a sideways or downward market: we have very different economic circumstances and many of the principles of capitalism are being questioned.
In this environment we the industry has to get its house in order. This means genuinely changing practices, rather than being short-term and defensive. It’s tough for everyone in the industry to raise their game in this way but the danger otherwise is that the regulator will over-regulate because it is not confident that the industry can self-regulate.
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