Global: What’s on the radar for Financial Institutions in 2024?

neub9
By neub9
5 Min Read

As we approach the end of another year filled with uncertainty and disruption, the Baker McKenzie Financial Institutions lawyers are looking ahead to the potential disruptors that will impact the industry in 2024. All of this will occur against a backdrop of economic and geopolitical risk.

Our report, 2024: What’s on the Radar for Financial Institutions?, provides an overview of the challenges facing the sector, drawing on our three risk radars, which each focus on the forces transforming the financial sector:

  • Fintech and digital transformation – The business models of financial institutions are reshaping how they deliver services, earn revenue, and monetize value.
  • Sustainability – Market and investor expectations and commitments around sustainable finance and environmental, social, and governance (ESG) considerations are changing global businesses’ operations and are now at the very heart of decision-making.
  • Regulatory scrutiny – Regulators are increasing their scrutiny of every operational aspect of financial services and markets as they hold businesses accountable for their actions.

In addition to these megatrends, our report also spotlights two subsectors, financial sponsors (including asset managers) and investment banks. Insights touch on the increasing scrutiny, the potential impact of AI regulation, as well as transactional challenges and competition from private capital.


Cover of Risk Radar report

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We hope that you find our 2024 forecast for financial institutions of interest. Our partners would be more than happy to discuss any of these issues and risks further with you.


Author
Alessandro Celli

Alessandro Celli’s broad experience includes technology-related transaction work, intellectual property and competition law, IT, data protection and cyber risk, commercial litigation, sports and entertainment law. Alessandro regularly advises Swiss and international clients on technology-related national and cross-border transactions (JVs, licences, distribution, sale and purchase of technology or related businesses and brands). He counsels on sourcing and data protection, competition law and business restructuring as well as sports and entertainment law in relation to media or sponsoring. As a member of the IP and Disputes practice groups, Alessandro is leading the IT/C (TMT) team in our Zurich office. His actual focus lies primarily on new technologies and business processes within a digitalized global economy and the associated legal and compliance challenges. His work has been increasingly determined by co-operational (sourcing) work as well as regulatory items involving the rapidly developing new technologies with a large impact also on the financial services sector. Alessandro has chaired the committee on legislation and practice at the Zurich Bar Association and is a member of the boards of selected Swiss companies.


Author
Christoph Kurth

Christoph Kurth heads the Investigations, Compliance & Ethics practice of the Swiss offices. Further, he is a member of the EMEA Steering Committee Compliance & Investigations and co-leads the EMEA Financial Institutions Industry Group. He has been recognized by Legal 500 as a leading individual for compliance, regulatory and investigation matters. Before joining the Firm, Christoph was global head of Litigation & Investigations and general counsel in Asia for a large Swiss bank. For over 10 years, he has led complex regulatory and criminal investigations as well as high stakes litigation across the US, Europe and Asia, and has advised on transformational regulatory developments and wealth management products and services across Switzerland and Asia. In his roles, Christoph has worked closely with business leaders, government authorities and the media, navigating businesses through regulatory and other challenges. Prior to this, Christoph was a litigator in leading practices in Switzerland and the US. Christoph also teaches post-graduate courses in ‘Crisis Management’ and ‘Risk Governance’ at the Europa Institute at the University of Zurich.

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