Financial Services Survey & Report

The financial services sector is a key focus for us at Johnston Carmichael, and an area of significant growth over the last few years. Our specialists have exceptional experience of the sector and our team, primarily based in Edinburgh and London, continues to expand.

In November 2024 we completed our annual sector survey. We received a total of 300 responses, made up of C-suite and senior executives from the financial services sector across the whole of the UK.

The survey looked back over the last 12 months, whilst also giving a nod to the next 12 months, allowing business leaders the chance to reflect on what has been, but in the context of what the future holds.

Our report presents an analysis of the key survey findings by looking at the data across a number of key areas, including, changing customer expectations, technology and digital transformation, managing risk, investment priorities and mergers and acquisitions. The adoption and evolution of AI was a common theme throughout, whilst also forming part of the much bigger picture across the sector in terms of how 2024 has turned out and what 2025 looks like. The report also shines a spotlight on what it all means for the sub-sectors of insurance, retail banking, wealth & asset management and private funds.

As a firm, cultivating close relationships with our clients is key and we invest a lot of time in understanding their businesses and the associated challenges and opportunities. We build a strong picture of the sector through our work with clients, but the results of this survey have added a valuable extra dimension to our understanding.

It is our intention to deliver this survey annually in order to ensure we maintain a consistent and accurate view of the industry, listening closely to the businesses within it. This insight will continue to strengthen the service we provide to the financial services sector.

Click the image below to view our full report.