Chief operating officers in UK investment firms overwhelmingly expect challenges in the next six months will require changes to their operating models according to new research being reported by Morse. Sixty-three per cent of those expecting changes already have specific budget allocation, showing that operating model change is being taken seriously by firms. The Morse survey canvassed the views of COOs at traditional fund managers, hedge fund managers, and wealth managers, as well as some brokers and service providers. Ninety-five per cent of respondents expect changes to their operating model and, of these, a third believe that the operating model will be a constraint on achieving business objectives. The challenges driving change were diverse, but new instruments and new products were mentioned the most frequently, and seen as the biggest challenges to the operating model. COOs are particularly concerned about OTC derivatives, alternatives and structured products, with nearly half of respondents mentioning something in this space.
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