Still Not Business As Usual
Investment managers are still not operating as if this recovery will have legs. Budgets continue to be tight, and hiring, while picking up some, is being done judiciously. In past downturns, some forward looking firms spent, while others didn’t, and gained a leg up during the recovery. I don’t see that happening this time. There seems to be a sense that we are going through a transformational period which creates uncertainty about the future. Uncertainty always causes firms to slow their decision making.
What will change this behavior? Continued market rallies? Clearer economic recovery? Just more time? Or, will we be in a new environment, one in which industry dynamics continue to be sluggish for a prolonged period? In any case, managers are being forced to be more strategic in their decision making as they navigate through uncertain waters.
Add comment November 18th, 2009
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