[OPE] KPMG CEO survey

From: Jurriaan Bendien <adsl675281@telfort.nl>
Date: Tue Sep 01 2009 - 14:32:56 EDT

A clip from Directors and Boards Magazine: September 2009 e-Briefing:

Senior business leaders in the banking and financial services industry
foresee their industry's recovery lagging that of the national economy, but
still see 2010 as a turnaround year as they expect improvements in revenue
and profitability, according to a recent survey conducted by KPMG LLP, the
audit, tax, and advisory firm.

In the KPMG survey, slightly more than a third of the banking and financial
services executives thought their industry would fully recover from the
current economic crisis ahead of the overall U.S. economy. Yet, while
expecting a comparatively slower recovery, 78 percent of banking and
financial services executives expect the business conditions for their
industry to improve in 2010 with 72 percent of them expecting much stronger
revenue and 68 percent expecting improved profitability.

When asked to identify the top three triggers they think will spur an
economic recovery, 46 percent of banking and financial services respondents
cited a stabilized real estate market, 45 percent said an increase in jobs,
and 43 percent said improved consumer confidence. The banking executives
most frequently cited the stabilization of the real estate market as a key
trigger for recovery.

The three triggers cited least frequently by the banking and financial
services executives included effective regulations (6 percent), government
stimulus spending (3 percent), and government bailouts / Troubled Asset
Relief Program (2 percent).

When asked to identify the biggest challenges they currently faced in
dealing with the economic downturn, banking and financial services leaders
most frequently cited managing risk (70 percent), finding new sources of
revenue growth (57 percent), complying with regulations (44 percent),
raising capital (44 percent), and restoring investor confidence (44
percent). (...)

The KPMG survey was conducted from May through July of 2009 and reflects the
responses of 130 CEOs and other C-level suite executives in the banking and
financial services industry. There were an equal number of respondents
amongst banks and other financial services companies. About 35 percent of
respondents work for institutions with annual revenues exceeding $1 billion;
19 percent have annual revenues in the $250 million-$1 billion range, and 45
percent have revenues below $250 million. Clarion Research Inc. conducted
the survey and compiled the data.

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