NEW YORK, NY--(Marketwired - Feb 28, 2017) - LANE, a Finn Partners company with one of the nation's leading financial services PR practices, issued its first Financial Services Outlook Report. Developed with the input of experts in consumer banking, investment banking and private equity, the brief provides insights to anticipated changes in the year ahead as well as some of the communications challenges that may arise.
"Competition in the financial industry is only intensifying, and many of our clients and experts are focusing on how they can maintain their competitive edge," said Amber Roberts, a senior partner and lead of the financial services practice area in the LANE division of Finn Partners. "In addition to the standard competitive threats, our panelist are watching other areas that could disrupt the current state of their businesses, such as the new and unconventional administration as well as rapid advancements in technology."
Key Developments Anticipated for 2017
Overall, experts expressed surprise not only at the outcome of the presidential election in 2016, but also at the positive market reaction. Given the pro-business signals from the new administration, professionals across the financial services industry are paying close attention to how those sentiments could translate into action, such as a relaxation of regulations.
LANE's panelists are also looking for more rapid changes across the industry that can be attributed to technological advancements, particularly in consumer banking. While some may feel that fintech, as a term, has been overused in recent years, little doubt remains about its potential for disruption. Consumers have become accustomed to having a variety of products and services at their fingertips 24/7, and financial services companies are being pressed to keep up with innovation.
Additional highlights from this year's trend report include:
- With consumers taking advantage of conducting business online and via mobile, the human element -- vital to engaging clients and building loyalty -- is in danger of falling by the wayside.
- As many organizations are becoming more challenged to grow organically, M&A activity should continue at a healthy pace as companies look outside of themselves to achieve growth objectives.
- Interest rates have been maintained at relatively low rates, and industry professionals are anticipating that increases are in store this year.
Panel of Seven Industry Experts
LANE turned to seven professionals across the financial services industry to develop the 2017 issue of the report.
- John C. Asbury. President and CEO of Richmond, Virginia-based Union Bankshares Corporation, Asbury has nearly three decades of experience in commercial and corporate banking.
- Rick Calero. President and CEO for TIAA-CREF Trust Company, FSB, Calero is responsible for overall strategy, operations, and growth of the banking and trust divisions.
- Brad Gevurtz. Managing director in the Investment Banking Group at D.A. Davidson & Co., Gevurtz has significant experience in M&A, public offerings and private placements.
- Mark Poff. A managing director of Swander Pace Capital, a private equity firm that invests in companies that are integral to consumers' lives. The firm has invested in more than 45 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996.
- Terry Schallich. Managing director and head of investment banking at Pacific Crest Securities, Schallich has also served as co-chief operating officer and head of equity capital markets.
- Jonathan Smith. An executive vice president at First National Denver, Smith joined the bank in 2009 after spending more than 20 years at Citibank and Citigroup.
- Reeve Waud. The founder and managing partner of Waud Capital Partners -- a private equity firm based in Chicago with approximately $2.1 billion of capital under management -- Waud has acquired more than 230 companies over his 30-year career.
For an in-depth look at the trends in each expert's field, access the full 2017 Financial Services Trend Report at http://www.lanepr.com/financialservicesoutlookreport/. For more information on LANE and its expertise within the financial services industry, please visit lanepr.com.
LANE, a Finn Partners Company, is focused on driving business and sales success for clients through strategic communications counsel. With offices in New York and Portland, Oregon, and a presence in Seattle, LANE provides integrated public relations services for clients in a host of industries, including financial services, consumer, travel and hospitality, food and beverage, and technology. Founded in 1990, the agency has won several awards, including the 2011 Silver SABRE award, the 2010 Bronze Bulldog Award for best new product launch and the 2009 PR Week Young PR Professional of the Year award. For more information about LANE, visit www.lanepr.com. Connect with LANE on Twitter, Instagram and LinkedIn.