- 87% of senior professionals working in the sector anticipate it will contribute more towards Malta’s GDP by 2022
- 84% anticipate levels of innovation in the industry to rise
- 82% anticipate the fund administration industry in Malta will grow, and this is followed by 74% who say this about asset management, asset servicing and corporate banking
A survey of professionals working in Malta’s financial services industry carried out by Managing Partners Group (MPG), the international asset management group, reveals the clear majority expect the sector to enjoy strong growth over the next five years.
One of the key reasons behind this growth will be an increased focus on innovation. Some 16% of those interviewed expect product innovation in the Maltese financial services sector to increase 'dramatically' over the next five years and a further 68% anticipate some sort of improvement here. The main driver behind this trend will be more financial services companies locating to Malta – the view given by 71% of respondents – followed by 50% who believe the country’s flexible legislative and regulatory system will also help.
When it comes to which sectors in Malta’s financial services industry are likely to see growth between now and 2020, 82% anticipate fund administration will grow, followed by asset management, asset servicing and corporate banking (74% of those interviewed expect these sectors to grow over the next three years).
Published by http://www.mplassetmanagement.com.mt