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PREVIOUS STUDIES 2021 | PERFORMANCE


Restructuring 2021

Deloitte
RESTRUCTURING REPORT 2021
The year 2020 was marked by the COVID 19 pandemic, and the pandemic will continue to be present in the first three quarters of 2021. In this year's Restructuring Report, Deloitte has taken a detailed look at the future economic developments of individual industries. We are particularly interested in the question of how these industries will continue to develop against the backdrop of an impending wave of restructuring. According to the experts surveyed, the automotive, tourism and stationary retail sectors will come to the fore in the short to medium term. Megatrends such as digitization, climate change and demographic change will also play a key role in changing the restructuring environment. >more


EIB Survey 2021

European Investment Bank
EIB INVESTMENT SURVEY 2021 - EU OVERVIEW
This unique insight into the corporate investment landscape in the European Union examines companies' finance needs and the constraints they face. The 2021 edition delves into the massive shock produced by the COVID-19 crisis, and the response and recovery programmes put in place by the European Union and by national governments. The report assesses the extent to which European firms are addressing the need make their businesses more green and digital. The survey is based on interviews with 12 000 companies across the 27 European Union countries, and it includes a benchmark sample from the United Kingdom and United States. This overview provides the aggregated results for the European Union. Results for individual countries will be published in January 2022. >more


Global Insurance 2021

BlackRock
GLOBAL INSURANCE REPORT 2021
As many economies make a strong restart following mass vaccinations and unparalleled financial stimulus from central banks, 362 senior insurance executives across the globe have shared with BlackRock their experiences and perspectives on the global insurance industry. Our interactive report charts key themes and global and regional implications. >more


Cross-Border Payments

Oliver Wyman | J.P. Morgan
UNLOCKING $120 BILLION VALUE IN CROSS-BORDER PAYMENTS
Global corporates move nearly $23.5 trillion across countries annually, equivalent to about 25% of global GDP. To do this, they have to rely on wholesale cross-border payment processes which remain sub-optimal from a cost, speed, and transparency standpoint. Aside from incurring transaction costs of more than $120 billion per annum (excluding FX costs), these processes also have additional hidden costs arising from trapped liquidity and delayed settlements. >more


Green Transition

UBS
THE VALUE OF A GREEN TRANSITION: A MODEL FOR INCLUDING DECARBONIZATION IN COMPANY VALUATION
The world is faced with an existential crisis, manifested by undeniable shifts in our planet’s climate system. Driven by this crisis, the financial community is rethinking its purpose. Greenhouse gas emissions are largely corporate, so what part do we play as asset owners? >more


European Banking

Deloitte
EUROPEAN BANKING TREND RADAR
The unprecedented situation since the COVID-19 pandemic hit Europe has once again highlighted change dynamics, with banks needing to adapt rapidly to new trends and drivers in the market. This has inspired us to set up a systematic process for trend monitoring and evaluation in banking to help market participants navigate uncertainty. In our new series of articles, we will shed light on the key trends and drivers in the European banking market. >more


CFO Survey HJ 2 2021

Deloitte
CFO SURVEY HERBST 2021
The Deloitte CFO Survey reflects the assessments and expectations of CFOs of large German companies on macroeconomic, corporate strategy and financial topics. The survey is published semi-annually and aims to identify trends and trend breaks. In the CFO Survey Fall 2021, participants continue to paint a positive overall picture in the context of recovery from the aftermath of the pandemic, although risks are on the rise again. The new edition focuses on the topics of digital investments, climate protection and sustainability management: these are currently of particularly high importance to companies. >more


Insurance 2030

Bain & Company
INSURANCE 2030: AS RISKS MOUNT, INSURERS AIM TO AUGMENT PROTECTION WITH PREVENTION
Climate change, disease, and technological disruptions are combining to produce more risks—and different types of risk. Insurers can look beyond just reimbursing for damages to incentivizing behaviors in ways that will reduce risks. Broader use of new technologies will likely help reduce costs and create value for all parties involved, spurring global premiums to $10 trillion by 2030. Five core strategic questions around loss prevention, embedded insurance, direct distribution, a China strategy, and alternative capital options will help insurers navigate an uncertain future. >more


Mixed Compensation

EY
MIXED COMPENSATION BAROMETER
After two years of decline, the salaries of board members of German listed companies rose again for the first time in 2020 - by 2.6 percent for board members and by as much as 7.1 percent for CEOs. On average across all Prime Standard indices, a board member earned 2.05 million euros. For CEOs, the average of total annual direct compensation was 2.86 million euros. In 2019, the compensation of all members of the Executive Board had still decreased by 4.6 percent year-on-year to 1.95 million euros. This is shown by the Mixed Compensation Barometer of the audit and consulting firm EY. Only board members who served on the board for the entire fiscal year were taken into account. The decisive factor was the composition of the indices valid at the end of the financial year. >more


Credit Market Q2 2021

KKR
CREDIT MARKET REVIEW Q2 2021
We believe this market will continue to keep investors on their toes, especially as the Fed gets closer to tapering and reflationary trends continue. Despite the positive tailwinds of rapid growth we are currently experiencing, we want to highlight and caution that this is a new chapter in history. We cannot discount the impact of higher than anticipated inflation on corporate margins, labor and wages, as well as cost of goods. >more


Outlook 2021 Q4

BlackRock
2021 GLOBAL OUTLOOK: Q4 UPDATE
The path for further gains in risk assets looks to have narrowed after a long run higher, but we reaffirm our tactical pro-risk stance – supported by a broadening global restart and ongoing negative real interest rates – even as the path for further gains in risk assets looks to have narrowed after a long run higher. >more


Global Payments

BCG
GLOBAL PAYMENTS 2021: ALL IN FOR GROWTH
Payments snapped back from the rigors of the pandemic faster than most observers would have expected. Analysts use the term elastic to describe a market participant’s success in absorbing change. But the payments industry wasn’t just elastic—it was a slingshot. The nimbleness with which it adapted to the crisis enabled economies the world over to rebound faster as well. As purchasing habits shifted almost overnight from offline to online and from cash to noncash, payments players responded in kind, accelerating e-commerce enablement, expanding fulfillment options, and streamlining point-of-sale and online checkout. They helped people who were dealing with financial uncertainty by providing debt relief, flexible installment purchases, supplier financing, and cash-flow management. >more


Finance Market and Scaling

Strategy&
SCALING THE SUSTAINABLE FINANCE MARKET    
The market for sustainable finance is rapidly growing in response to the climate emergency. Despite impressive recent growth, the sustainable finance market has a long road ahead to reach maturity. It faces competing initiatives, uneven coverage by geography and asset class, misalignment of definitions and a mismatch between supply and demand. However, financial market infrastructure (FMI) can help. >more


Real Estate and ESG

Deloitte
CREATING SUSTAINABLE VALUE: REAL ESTATE AND ESG
ESG has taken on a key role in the strategic direction of companies. To remain successful, ESG factors must be incorporated into strategic decision-making, corporate governance, the investment process, reporting, and (commercial) legal and tax decisions. At Deloitte, we accompany you on the sustainability journey and highlight all ESG aspects in the Real Estate industry that will play a role for your company and its stakeholders today and in the future. >more


Online Brokerage 2021

Oliver Wyman
ONLINE-WERTPAPIER-BROKERAGE 2021
In 2020, the securities culture in Germany took a decisive step forward and, as a solid revenue pillar, brought much joy not only to customers but also to German brokerage providers. Supported by the high market volatility in the Corona crisis as well as the related brisk customer activity, we have seen record numbers in the German market for 2020. The number of securities transactions has doubled compared to 2019 to between 160 and 180 million and revenues for German online brokers have increased by two-thirds from €1 billion in 2019 to between €1.6 and €1.7 billion. >more


Financial Markets Regulatory

Deloitte
FINANCIAL MARKETS INTERIM REGULATORY OUTLOOK 2021
The mid-year assessment, prepared by Deloitte's EMEA Centre for Regulatory Strategy, examines how current trends and regulatory issues will shape the financial services industry for the remainder of 2021. >more


Insurers

Strategy&
HOW INSURERS CAN DESIGN FOR AGILITY AND EMBRACE UNCERTAINTY
By their very nature insurance companies are large established businesses that tend to be rather rigid. As stability is crucial in the industry, many insurers find it difficult to react to short-term changes in the competitive environment. How can insurers redesign their companies to embed agility and stay ahead of the game? How can they embrace uncertainty in a volatile world? In this article I will share some of the traits and benefits of agile companies, best practice examples, and how to kick off an agile transformation. >more


German Banking

McKinsey & Company
GERMAN BANKING RETURNS TO THE PLAYING FIELD
To support the transformation of the German economy that is necessary in all segments in view of fundamental upheavals, banks must also transform themselves. With an ambitious renewal course, the German banking sector can improve its operating profit by 30 to 40 billion euros by 2030 and catapult its return on equity to at least 7-8% - more than doubling the 2.9% after-tax average of the last five years. This is according to the report "Germany's banks back in the game" published by management consultants McKinsey & Company. >more


Digital Assets

Oliver Wyman
DIGITAL ASSETS GOING MAINSTREAM: OPPORTUNITIES FOR FINANCIAL INSTITUTIONS
Digital assets are generating significant market interest. In the unregulated crypto market,  startups and early investors have enjoyed enormous value creation, while in the enterprise space, firms have taken technologies developed and tested in the crypto market and adapted it to payments and settlement, record keeping, securitization, and trading. As adoption accelerates and digital assets go mainstream across industries, there are multiple commercial opportunities for financial institutions and significant first-mover advantage to be taken. >more


Global Credit Outlook 2021

BlackRock
A DYNAMIC RESTART: 2021 MIDYEAR GLOBAL CREDIT OUTLOOK
Credit performance was mixed in the first half against a backdrop of accelerating growth and strong monetary and fiscal support for the economy. We remain constructive, with a watchful eye on inflation trends and a focus on selectivity, embracing complexity and global opportunities. >more


COVID-Induced Debt Overhang

PGIM
THE INVESTMENT IMLPICATIONS OF COVID-INDUCED DEBT OVERHANG
A large debt overhang is one of the most salient economic legacies of the COVID pandemic, as some emerging and frontier economies could face distress servicing their debt. In this piece, we present a parsimonious analytical framework aimed at spotting the discrepancies among emerging and frontier markets in their ability to weather the risks of COVID-induced debt overhang. We then leverage the framework to identify investment opportunities. >more


Commercial Insurance

Strategy&
PROFITABLE GROWTH IN COMMERCIAL INSURANCE
Strategy& - The commercial insurance business in Germany faces competition from all sides. Traditional private insurers, keen to grab a slice of the commercial market, are upselling policies to their existing customers. On the other end of the spectrum, traditional industrial insurers follow a similar strategy. Incumbents also face competition from industry outsiders, such as large industrial brokers, and advances in automation and technology give rise to completely new entrants. >more


Fintech H1 2021

KPMG
PULSE OF FINTECH H1 2021
After a rather weak year, global investments in startups from the financial sector have increased significantly again in 2020. This is the result of the "KPMG Pulse of Fintech", for which data from Pitchbook was analyzed. According to the report, the volume of all venture capital, M&A and private equity investments in fintechs rose to $98 billion in the first half of 2021; 2,456 deals were made worldwide. By comparison, $121.5 billion was invested in 3,520 deals in all of 2020. >more

 


DACH Insurtech

Oliver Wyman
DIE ZUKUNFT VON INSURTECH IN DACH
What are the trends and changes in the InsurTech industry? We examine this in our "InsurTech Radar 2021" and highlight the developments that have taken place since our last Radar in summer 2019. For the radar, German InsurTechs were subjected to a detailed analysis for the fourth time. For the first time, startups from Austria and Switzerland were also included in the analysis. Even if the total number has no longer increased despite new start-ups, the market has matured: InsurTechs have established themselves as a permanent fixture in the insurance industry. The pandemic has even accelerated this development: 70 percent of InsurTechs specializing in end-customer solutions have been able to strongly expand their new business in the last 18 months. >more


Football Finance 2021

Deloitte
ANNUAL REVIEW OF FOOTBALL FINANCE 2021
For the 30th time, Deloitte presents the English edition of the "Annual Review of Football Finance" with the most important financial figures of international professional soccer in the 2019/2020 financial year. The latest study highlights the economic impact of COVID-19 on the European soccer industry in the 2019/20 season, which was initially interrupted from spring 2020 and finally played to a close in front of empty stands. In addition, the study offers a detailed look at the English soccer leagues and highlights, among other things, the 2019/20 women's soccer season and current developments in the investment and technology sectors in further special chapters. >more


European Banks

Oliver Wyman
READY TO LEAD: HOW BANKS CAN DRIVE THE EUROPEAN RECOVERY
The banking system has proven resilient during the pandemic - despite one of the sharpest declines in gross domestic product (GDP) ever. While many companies have relied on financial government support, the banking sector's capital stock, built up after the financial crisis, has proven sufficient. The study outlines five tasks that banks in Europe must master in order for the economy to find its way back onto the growth path. >more


Under Water

Morgan Stanley | Oliver Wyman
UNDER WATER: WITHSTANDING LOW YIELDS IN TRADITIONAL LIFE
The report "Under Water Withstanding low yields in traditional life insurance", prepared in cooperation with Morgan Stanley, looks at the impact of the persistently low interest rates on the European life insurance industry. The German life insurance industry is particularly affected, so the study looks in detail at the German market. >more


Digital Transformation and Capital Markets

World Economic Forum
DIGITAL ASSETS, DISTRIBUTED LEDGER TECHNOLOGY, AND THE FUTURE OF CAPITAL MARKETS
This report highlights the results of a series of virtual global workshops and expert interviews held with financial services and technology experts in 2020. It looks at the urgent need for digital transformation in capital markets, with a view to providing strategic insights that will improve client service delivery, achieve greater efficiency and enable new services. >more


COVID-19 Restructuring

Oliver Wyman
IS THE COVID-19 RESTRUCTURING WAVE STILL TO COME?
How has the restructuring ecosystem changed in the wake of COVID-19? What should be on companies' agendas as they emerge from the crisis? And what role can governments play to facilitate economic recovery? Our Restructuring 2021 brochure sheds light on these topics and more. >more


EURO 2020

Goldman Sachs
EURO 2020 - MODELLING THE BEAUTIFUL GAME
Following a year of delay, the Euro 2020 will finally go ahead on June 11. As the excitement for the tournament builds, Goldman Sachs Research constructs a statistical model to simulate the European Cup, which we intend to update as the tournament progresses. >more


Growth

Morgan Stanley | Oliver Wyman
WEALTH & ASSET MANAGEMENT: COMPETING FOR GROWTH
Our 2021 edition of the wealth and asset management report with Morgan Stanley offers an overview of industry trends and analysis of the industry. The outlook for the industry shows that wealth and asset managers face a common set of challenges and opportunities. This is driven by the macroeconomic environment, shifts in client demand and the continued evolution of technology to deliver improved investment and advisory solutions. >more


Payments

PwC
PAYMENTS 2025 & BEYOND
The financial services industry is in the midst of a significant transformation, accelerated by the COVID-19 pandemic. And given the key role digitisation plays in the financial lives of more and more of the world’s population, electronic payments are at the epicentre of this transformation. Payments are becoming increasingly cashless, and the industry’s role in fostering inclusion has become a significant priority. Payments also are supporting the development of digital economies and are driving innovation — all while functioning as a stable backbone for our economies. >more


Diversity Index Germany 2020

BCG
BCG GENDER DIVERSITY INDEX GERMANY 2020
Diversity is considered an important success factor for companies. And yet the 100 largest listed German companies have some catching up to do in terms of gender parity: After nine percent in the previous year, the proportion of women on the executive boards has risen to ten percent. At both levels below the board, the proportion of women is on average twice as high as in the top management body, at 19 and 23 percent respectively. Read the report to find out which companies are our "Diversity Champions" - and why diversity is a transformation that is self-reinforcing. >more


TOP 100 Companies

PwC
GLOBAL TOP 100 COMPANIES BY MARKET CAPITALISATION
The market capitalization of the world's 100 most valuable public companies (PLCs) has increased by $10.3 trillion (48 percent) in just one year. At the end of March 2021, it stood at $31.7 trillion - a new record. This is one of the core findings of the latest "Global Top 100" ranking published annually by the accounting and consulting firm PricewaterhouseCoopers (PwC). The analysis compares the total value of the world's 100 most valuable companies on March 31, 2021, with the value on March 31, 2020, and also presents the changes by industry and region. >more


Public Equities

BlackRock
INVEST WITH IMPACT: THE CASE FOR IMPACT INVESTING IN PUBLIC EQUITIES
The paper makes a case for impact investing in public equities through reference to additionality through the investor’s contribution, the investee, and the asset class. We believe public equity markets have historically been overlooked in the impact investing space. >more


Fixed Income

Neuberger Berman
FIXED INCOME INVESTMENT OUTLOOK: 2Q 2021
The fixed income world is beginning to undergo a multiyear transition as aggressive monetary accommodation and government spending across key economies drive higher near-term economic growth rates. The result could be a shift to higher real rates as output gaps narrow, as well as moderately higher but stable inflation. In our opinion, this bodes well for risky assets, but will likely be accompanied by increased volatility and changing correlations. We outline our views in this report. >more


Family Business 2021

PwC
FAMILY BUSINESS SURVEY 2021
Their solid financial cushion and long-term thinking are benefiting German family businesses during the pandemic: despite high sales losses, the majority are coping with the crisis on their own. Only a small number have had to lay off employees or cut salaries. At the same time, the current pandemic is ruthlessly exposing weaknesses in family businesses. In particular, they have some catching up to do in the areas of digitization and sustainability. These are the key findings of the Family Business Survey 2021, for which PwC surveyed 2,800 family businesses from 87 countries, including around 170 in Germany. >more
 


Family Businesses

KPMG
MASTERING A COMEBACK: HOW FAMILY BUSINESSES ARE TRIUMPHING OVER COVID-19
The impact of COVID-19 was felt almost immediately in most industries and regions of the world. We believed that the first indicator of the impact of COVID-19 on family and non-family businesses would be reflected in their revenue and that proved to be correct. The impact of COVID-19 has varied from company to company, industry to industry and region to region. However, the one constant among family businesses has been the commitment to entrepreneurship that triggers their resilient instincts. >more


Construction Financing

Deutsche Bank Research
DEUTSCHLAND-MONITOR BAUFINANZIERUNG Q2/2021
The curbs on private consumption caused by the lockdown are likely to have been even more pronounced in the first quarter of 2021 than in the fourth quarter of last year. We expect GDP to contract by 2%. With a rise in temperatures and initial successes with vaccinations, the economy is likely to pick up strongly thereafter. For 2021, we expect growth of 3.7%. Compared to the high interest rates at the beginning of the cycle, homeownership remains affordable from an interest rate perspective. Affordability is expected to fall somewhat in 2021 due to sideways mortgage rates, weak income development and presumably further rising house prices. >more


Wholesale Banking

Morgan Stanley | Oliver Wyman
STRIVING TO SUSTAIN RETURNS: WIE WHOLESALE BANKEN HÖHERE RENDITEN ERZIELEN KÖNNEN
This year's report shows that 2020 returns above 12 percent are sustainable but have not yet been priced in by investors. Wholesale banking receives a lower multiple from investors (12x) compared to non-bank financial institutions in the payment system (48x) or in the capital markets (29x). Our report outlines measures to close the gap. >more


ESG and Financial Performance

Rockefeller Asset Management
ESG AND FINANCIAL PERFORMANCE: UNCOVERING THE RELATIONSHIP BY AGGREGATING EVIDENCE FROM 1,000 PLUS STUDIES PUBLISHED BETWEEN 2015 – 2020
Meta-studies examining the relationship between ESG and financial performance have a decades-long history. Almost all the articles they cover, however, were written before 2015. Those analyses found positive correlations between ESG performance and operational efficiencies, stock performance and lower cost of capital. Five years later, we have seen an exponential growth in ESG and impact investing – due in large part to increasing evidence that business strategy focused on material ESG issues is synonymous with high quality management teams and improved returns. >more


Fintech H2 2020

KPMG
PULSE OF FINTECH: H2 2020
As you will see in this edition of Pulse of Fintech, words became action as the global pandemic made digitalization a critical priority for businesses of every shape and size. The same can be said for incumbent financial institutions, and most importantly, for consumers. he changes we have seen this year will not likely stop when COVID-19 wanes. Around the world, people and businesses recognize the importance of agility and responsiveness. Companies across the financial services spectrum now understand what is at stake if they do not embrace digital innovation. >more


Family Office

BlackRock
GLOBAL FAMILY OFFICE SURVEY
The BlackRock global family office survey report combines data aggregated from an extensive online survey completed by 185 family offices globally as well as in-depth interviews with 20 family offices. Explore our insights around market outlook, asset allocation and sustainable investing. Our survey indicated that despite a challenging economic outlook, few family offices felt the need for material change to their portfolio. Many family offices cited their long-term investment horizon and high allocations to alternatives as the driver of this. >more


Global CEO Survey

PwC
24TH ANNUAL GLOBAL CEO SURVEY
For business, 2021 will be a year of reinvention. One year into the COVID-19 pandemic, we surveyed 5,050 CEOs around the world about their plans to respond to new threats, transform their operating model and create a more sustainable future. The pandemic’s dual role as accelerator of transformation and amplifier of disruptive forces is the thread that runs through our 24th Annual Global CEO Survey. Most of the CEOs responding to the survey are bullish about a global economic comeback. It will be enabled by a continuation of companies’ pandemic-induced digital acceleration, which promises productivity and other business benefits, but also increases the threat of cyberattack and the spread of misinformation. >more


Global Crisis Survey 2021

PwC
GLOBAL CRISIS SURVEY 2021
How did companies behave during the COVID 19 pandemic? What did they learn in the process? And how do you use the new insights to prepare for crisis situations in the future? These are some of the key questions explored by PwC's Global Crisis Survey 2021. Between August 20, 2020 and January 25, 2021, we surveyed more than 2,800 executives from 73 countries and 29 industries, including 158 companies in Germany. The responses provide exciting insights into which strategies, measures and technical solutions companies relied on during the pandemic - and which of them were effective or not. >more


Gender GAP

Russell Reynolds
GENDER GAP: WOMEN INVESTMENT PROFESSIONALS IN GERMAN-SPEAKING EUROPE
Diversity is more than just a social issue; it is also increasingly a business issue. A growing body of research documents the positive effects of diversity on talent strategy, innovation and financial performance. In German-speaking Europe women are underrepresented in multiple industries. One of the most extreme instances of this gender gap occurs in private equity. To learn more, Russell Reynolds Associates (RRA) analyzed the profiles of more than 1350 private equity professionals at over 100 funds and found that only 8 percent of the German-speaking investment professionals are women. This compares to 13 percent representation among private equity professionals globally, according to recent Preqin data. >more
 


Restructuring

Oliver Wyman
CHOOSE YOUR PATH: SUCCESSFUL RESTRUCTURING IN TIMES OF UNCERTAINTY
Uncertainty is an inevitable element of business. The COVID-19 pandemic hit the world almost overnight, but even before this event, many industries faced looming downturns or disruptive changes. The electrification of the automotive powertrain, the rise of the Industrial Internet of Things (IIoT), and fundamental changes of consumer buying habits are just a few examples of such development disrupting many industries. >more


Fintech January 2021

Houlihan Lokey
FINTECH MONTHLY MARKET UPDATE: JANUARY 2021
This summary of key trends and recent deal activity will serve as a valuable resource for you in navigating the uncertainties and finding opportunities presented by today's market. It presents various insights across every subcategory of fintech, including asset and wealth management, banking and lending, capital markets, corporate, insurance, payments, mortgage, and others. >more


Retail Banking

Oliver Wyman
IMPROVING CUSTOMER DECISIONS IN RETAIL BANKING
Behavioral biases often prevent customers from making the best and most beneficial financial decision. It is important for banks to support their customers by influencing their financial decisions. In doing so, they help not only their customers but also themselves by reducing complexities and signaling to their customers that they will be by their side even during difficult times, such as the ongoing COVID-19 pandemic. >more


Outlook Banking 2021

Deloitte
2021 BANKING AND CAPITAL MARKETS OUTLOOK
The banking industry has responded to the pandemic with unprecedented speed and effectiveness. Implementing the complete switch to virtual working and thus entirely new operating procedures in the shortest possible time was no easy task. Of even greater importance, banks played a key role in stabilizing the economy by passing on government stimulus and aid programs. >more


Racial Equity in Banking

BCG
RACIAL EQUITY IN BANKING STARTS WITH BUSTING THE MYTHS
Among the inequities many Black and Latinx consumers in the US face, one of the most concerning is the lack of access to necessary financial products and services. Making up just 32% of the US population, Black and Latinx households represent 64% of the country’s unbanked and 47% of its underbanked households. While this problem is widely acknowledged, misconceptions about its causes and its effects on families make it difficult for banks to meet the challenge. >more


COVID-19 and Expectations

EY
CAPITAL CONFIDENCE BAROMETER: AUSWIRKUNGEN DER COVID-19 PANDEMIE
The majority of large German companies expect to recover quickly from the Corona crisis: more than half (56 percent) expect sales to reach the level seen before the outbreak of the pandemic before the end of the current year. At least a quarter (24 percent) expect the recovery to occur by 2022 at the latest. German companies believe that profitability will return somewhat more slowly: For the current year, 24 percent expect a return to the situation before the outbreak of the pandemic. >more


Retail Banking 2021

BCG
GLOBAL RETAIL BANKING 2021: THE FRONT-TO-BACK DIGITAL RETAIL BANK
Retail banks around the world reacted to the COVID-19 crisis with speed, dexterity, and purpose, while remaining true to their environmental, social, and corporate governance goals. Now, as the new reality starts to take shape, banks face further challenges. The pandemic shock has accelerated changes already underway and sparked new ones. Institutions’ revenues are under pressure, and global banking revenue pools have already taken a significant beating. Even under the most optimistic scenario, those pools are not expected to return to precrisis levels until 2022. >more


Investment Outlook 2021

J.P. Morgan
INVESTMENT-AUSBLICK 2021
Support measures by governments and central banks appear to have helped economies through the worst of the Covid 19 crisis, and vaccines offer hope that an end is in sight, which should encourage policymakers to do more in the months ahead. The extraordinary corporate and government debt burden at the end of the pandemic will likely result in longer-term low interest rates and continued bond purchases by central banks. >more


Mittelstandsbarometer January 2021

EY
MITTELSTANDSBAROMETER: JANUAR 2021
Despite the Corona pandemic, the majority of SMEs in Germany are still in a positive mood: 87 percent currently rate their current business situation as rather or entirely positive. However, the proportion of those who are fully satisfied has fallen from 57 percent last year to 49 percent - the lowest figure since 2015. Looking ahead to the next six months, 45 percent of SMEs expect their business situation to improve. A large majority of 93 percent see their own company in a rather stable or even very stable state. >more


Ethnic Diversity and investors

Candriam
ETHNIC DIVERSITY: WHY INVESTORS CANNOT AFFORD TO REMAIN SILENT
The event which pushed Covid out of the global news headlines for part of 2020 was the death of George Floyd while in the custody of police. Only one of a series of controversial police actions in the US in recent years, this time the event triggered a global campaign against racism. The Black Lives Matters movement has been revived with knock-on effects for the corporate world. These ongoing reactions demonstrate that in the era of responsible capitalism, corporations are increasingly affected by societal debates. >more


Long-Term Capital Market Assumptions 2021

J.P. Morgan
2021 LONG-TERM CAPITAL MARKET ASSUMPTIONS
The 25th annual edition explores how the policies adopted to tackle the COVID-19 crisis will affect the next cycle – and how investors can craft a new portfolio for a new decade. Returns are constrained in many markets. But investors can draw on expanded opportunity sets to harvest the returns they need. >more


German Competitive Position

Alvarez & Marsal
IN DER VERÄNDERUNG LIEGT DIE KRAFT IM WETTBEWERB
Despite all the pandemic worries, German industrial companies are still doing well in an international comparison. A survey of top managers shows that three quarters of them consider their competitive position to be stable or even strengthened during the crisis. But they have fought hard to achieve this comparatively positive interim result. They have made far-reaching changes, accelerated digitization, optimized the interface to the customer and also changed their business model with numerous other measures. >more


Women`s Quota

McKinsey & Company
DIE NEUE GESETZLICHE FRAUENQUOTE: WORAUF ES JETZT ANKOMMT
The debate about the women's quota in Germany is dividing society. According to a representative McKinsey survey, the majority of Germans (55%) are generally in favor of a women's quota, with 62% of women and only 48% of men. However, only 32% are satisfied with the current draft law. The reasons for this vary: Almost 50% fear that success of women is associated with quotas rather than with skill. 47% think the state should not interfere. 23% think the current quota is too low and not far-reaching enough, and 22% fear that men would be disadvantaged by the quota. >more


Private Markets

PwC
PRIME TIME FOR PRIVATE MARKETS: THE NEW VALUE CREATION PLAYBOOK
Investment continues to flow into private markets. In the wake of COVID-19, however, private markets managers face challenging economic conditions and a more complex definition of what constitutes value. As private markets come to make up an increasing proportion of the global capital markets, the sector is also becoming more regulated and scrutinised than ever before. How can you reconfigure your value creation playbook to outperform in this tough environment? You’ll need a strategy that focuses more closely on strategic positioning, operational excellence and capital efficiency in your business and the portfolios you manage. >more


COVID-19 and Restructuring

Roland Berger
COVID-19 HAT DIE WIRTSCHAFT HART GETROFFEN – RESTRUKTURIERUNGSBEDARF EXPLODIERT
No event in recent decades has had such a massive impact on the global economy as the Corona crisis. The lockdown in the first half of the year and the exit restrictions in November have put massive pressure on the economy - and make a recovery a distant prospect. Roland Berger asked 500 restructuring experts from Germany, Austria and Switzerland for a forecast for the coming year and condensed the results in the "Restructuring Study 2020". The conclusion: hardly any experts still expect a v-shaped recovery of the economy. On the contrary: at 86 percent, an overwhelming majority of respondents expect the need for restructuring to increase significantly in the coming year. >more


Fintech and COVID-19

World Economic Forum | World Bank Group | University of Cambridge
THE GLOBAL COVID-19 FINTECH MARKET RAPID ASSESSMENT STUDY
This study finds that, despite unprecedented uncertainty and rapid changes in market conditions, FinTechs across the globe have been resilient in responding to the challenges of the COVID-19 pandemic. Twelve out of 13 surveyed FinTech verticals reported growth on average in Q1-Q2 2020, compared with the same period in 2019, although the growth was very uneven across markets and geographies. FinTechs were nimble and innovative in adapting to market conditions by both tweaking existing products and services and launching new ones. However, they still face significant headwinds in operations, fundraising and regulatory challenges across the world. >more


Nachfolge-Monitoring 2020

KfW Research
NACHFOLGE-MONITORING MITTELSTAND 2020
In the corona year 2020, companies are suddenly preoccupied with existential problems and put their planning for the future on hold - also with regard to handover to the next generation. KfW Research's succession monitoring provides a snapshot of this. First, at least many entrepreneurs whose retirement is imminent are sticking to their handover plans even during the crisis. Secondly, they have entered the crisis well prepared and are keeping succession processes already underway on track: just under half of the approximately 260,000 handovers planned for the next two years have been fully negotiated. But the risk of failed successions increases with the duration of the crisis. One basic problem is exacerbated by the crisis: There is a shortage of young talent due to unfavorable demographics and a weak start-up spirit. Removing obstacles to start-ups is central to the generational change in SMEs. >more


Outlook 2021

Lazard
WHAT TO WATCH IN 2021
As 2020 nears an end, investors face a challenging combination of crosscurrents. On the positive side, the US election has passed with a market-friendly outcome and three COVID-19 vaccines appear to be within weeks of initial distribution, with more likely to follow. Typically, these events would be the all-clear signal investors need to shift out of defensive work-from-home beneficiaries into cyclical recovery plays. However, major developed countries across the Northern Hemisphere are facing new record levels of COVID-19 infections, spurring new economic lockdowns and increasing the risk that many companies, particularly small businesses, might not make it to the other side of this pandemic. Judging from our earlier pandemic experience, this scenario would signal exactly the opposite market reaction as that to the vaccines. Investors face a timing conundrum, indicating yet again that it is likely to be darkest before the dawn. >more


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