One on One with KCRA's Paul Gronwall

Perhaps no industry has seen more dramatic upheaval and uncertainty over the last few years than Financial Services. Though, through all the volatility, the sector has not only survived, but its thrived. But what's the status of the market now? And what does the future hold for consultancies in this sector? Those are the question answered in Kennedy Consulting Research & Advisory's latest research report—Financial Services Consulting Marketplace: Key Trends, Profiles and Forecasts—which provides details on market demand for, and profiles of, leading firms that provide consulting services to the Financial Services industry, which includes banking, capital markets, and insurance. Consulting One on One recently sat down with the report's author, Paul Gronwall, a senior analyst with Kennedy Consulting Research & Advisory, to discuss the financial services market.

Consulting: What's the status of consulting to the financial services market right now?

Gronwall: Consulting to financial services organizations is in an upswing. Following a poor showing during the financial crisis, there was significant growth in 2010, and that has continued in 2011, albeit at a slightly slower pace. More mature, Western financial services markets continue to represent the largest portion of client spending, but growth rates are greater in developing economies in Asia, Latin America, and the Middle East and Africa. Economic uncertainty, especially fear of another recession or concerns regarding sovereign debt in several countries, may dampen growth, but it has not yet had a significant impact on consulting spending overall.