On this Tape the CEOs talk about the threat to their business from the FANGS. The traditional argument that the tech giants will not bother with investment management because of regulation is given short shrift.
Google et al are definitely working out how to ‘unpick our business’ but will go elsewhere first – such as credit cards - says one CEO.
There is discussion about whether the vast amounts of personal information which the tech giants have on us will give them a clear advantage.
Some say yes, but others think the tech giants have a trust issue: the Facebook scandal plus GDPR may erode their advantage.
On a final note one CEO speculates that technology might provide the missing conduit between asset managers and end clients.