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A different kind of Financial Services CEO in 2030
A different kind of Financial Services CEO in 2030
The CEO reimagined
In the first extract from the 30 Voices on 2030 research, we consider the five opinions below:
- CEOs will convene broad alliances rather than run big companies
- Successful CEOs’ strategic decision-making will be data-driven
- Financial services will operate with small, flat management teams
- Emotional intelligence will be at a premium for financial services leaders
- Intangible assets will dominate the balance sheet
In 2030, the Financial Services (FS) CEO will need to be able to lead a changing cast of people, processes and structures, exploiting new technologies to re-imagine their businesses and execute on their strategic vision.
What does that mean in practice? Importantly, FS leaders will become orchestrators of alliances, responsible for co-ordinating a community of product and service providers, rather than managing large conglomerates that aim to offer a one-stop shop.
In a digitalised marketplace transformed by the opening up of FS and customer demand, our 30 Voices envisage CEOs running lean, core businesses that leverage platforms and partnerships to deliver a much broader range of customer outcomes. Driving insight from their data analytics and modelling, they will operate within an adaptable ecosystem into which customers can plug in and out on demand.
The skills of the FS CEO will therefore need to change. With less of a role for functional leaders, and more emphasis on technological vision and the emotional intelligence required to build partnerships, the CEO of 2030 will have different priorities. In the digital economy, the business’s most valuable assets will be intangible.
© 2019 KPMG LLC, an Isle of Man Limited Liability Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
