7. The CEO – an Expert of All Kinds
Banking has become much more complex. A CEO has to be able to explain the advantages of the Blockchain. Technology and bureaucracy requires a new type of bank manager. He or she needs to be a quick and joined-up thinker, with a penchant for digital know-how and ideally management experience outside of the banking industry. The banker who stays at one company and rises through the ranks to become the CEO after two decades of service is a rare exception.
8. China Surges
China was already an economic powerhouse before the crisis, but the events of 2008 and 2009 tilted the balance even further in its Middle Kingdom’s favor. The Middle Kingdom made began internationalizing its currency as well as slowly opening up domestic markets after the crisis. Today, Chinese firms stand more than 100 companies of the Fortune500 (http://fortune.com/fortune500/) – within striking distance of the U.S.’ count.
9. The Inroads Made by ETFs
Exchange traded funds (ETFs) have seen a surge since the crisis. They remained more or less stable while managed assets at the height of the crisis declined by a fifth. By 2009, the ETFs reached new records. Costs become the one major component for investments when performance comes under sustained pressure. A product that does away with an active, expensive management is attractive.
