The financial industry has changed radically since the global financial crisis. The challenge, to quote H. G. Wells, is clear: firms must adapt…or perish. What insights, tools, solutions, technologies, and innovations can help firms succeed? We are be drawing on the acumen and research of thought-leaders at Axioma, to provide practical views of pathways to stronger performance in these challenging times.
Ten years ago, Christoph Schon, Executive Director, Applied Research, was working at the Lehman Brothers' European headquarter. In this blog post, Christoph writes about his experience and shares the lessons learned.
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An anniversary is often a time to reflect. While many view the September 2008 collapse of Lehman Brothers as the onset of the global financial crisis, signs of trouble appeared much earlier. Financial stocks were already starting to slide as early as February 2007, and the market peaked in October of that year. So, while we are observing the “official” anniversary of Lehman’s demise in September, clearly things had begun to unravel well before.
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The world of indexing has seen explosive growth since the GFC. Today, more than 3 million equity indices are being calculated – putting the ratio of calculated indices to listed equities at an astounding 60:1. On the back of this secular shift, the three largest index providers - S&P Dow Jones Indices, MSCI and FTSE Russell - have netted more than a billion dollars in combined revenue in just the first half of this year.
What’s the reason behind this change?