The CBI/PricewaterhouseCoopers Financial Services Survey has reached its 20th anniversary, having lived through the second half of the long bull run that ended in 2000–01, two stock market peaks and the most serious financial crisis in living memory. This report evaluates the survey’s performance since its launch at the end of 1989, and looks at the prospects for the financial services industry over the next 20 years.
The report starts with a summary of the results of the survey during its first 20 years, which illustrates its unique ability to chart trends and predict future prospects in the industry. The accompanying analysis shows that it has a remarkably good record in anticipating key official data – for example, proving reliable in predicting turning points on employment levels ahead of official data.Turning to the next 20 years, the report looks at what the future holds for the financial services industry as it emerges from the deep crisis that began in 2007. Based on the views of experts at the CBI and PwC and interviews with 20 leading figures in and around the industry, it provides a vision of where the industry is going and the challenges it will face over the next two decades.