TITLE

Growth Ahead, But the Street Should Forget China

AUTHOR(S)
Friedlander, Josh
PUB. DATE
April 2005
SOURCE
Investment Dealers' Digest;4/25/2005, Vol. 71 Issue 16, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that Wall Street would do well to take a cold shower and quell its rabid focus on foreign markets, such as China, before someone gets hurt. The study by consultancy Mercer Oliver Wyman (MOW), is bullish on the prospects of the global financial services industry, including Wall Street, for the next 15 years. But the Street won't be able to sit back and enjoy a mohito, the vagaries of a volatile market will remain, the study predicts, and only by meeting unique demands, especially in the retail banking sector, will the Street continue to realize revenue growth. Mercer expects the entire financial services industry to experience extraordinary growth over the course of the next 15 years. Revenue will grow to $6 trillion by 2020 from $2 trillion in 2002 and will represent 10% of global gross domestic product, up from 6% currently, MOW predicts.
ACCESSION #
16849603

 

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