KPMG CEO Outlook 2023: 73% Confident of Growth in Next 3 Years, Top 5 Risks to Growth are Geopolitics & Political Uncertainty, Operational Issues, Eme
29th December 2023 | Hong Kong
KPMG has released the KPMG CEO Outlook 2023, providing key insights of 1,325 CEOs and 142 Banking CEOs on their business and economic outlook for the next 3 years (2024 to 2026), with all CEOs leading companies with annual revenue of more than $500 million and 1/3 of CEOs with more than $10 billion annual revenue. Of the 1,325 CEOs, 73% are confident of growth in the next 3 years (2022: 71%, 2021: 60%). 2023 Top 10 Risks to Growth (Next 3 years) are Geopolitics & political uncertainty, Operational issues, Emerging / disruptive technology, Supply chain, Regulatory concerns, Environmental / climate change, Interest rates, Cyber security, Reputational risk, and Talent. CEOs on Generative AI (Artificial intelligence) – Provide new attack strategies for adversaries 82%, Top priority 70%, Ethical challenges – 57%. CEOs more likely to reward employees who come to office (assignments, raises, promotion) – 87%. Embedded ESG in organization means value creation – 69%. KPMG Banking CEO Outlook 2023, 76% of CEOs are confident of growth in the next 3 years. Will have prolong potential recession if interest rates increase & tightening of monetary policies – 80% of CEOs. Top 5 Biggest risk / most pressing concern – Cost of living 79%, Disruptive technology 76%, Regulatory demands 74%, Talent 74%, Cyber crime & cyber insecurity 71%. CEOs deploying capital investment to acquire new technology – 54%. CEOs on Business growth and M&A (Inorganic growth) – Must witness stable market conditions 28%, Availability of financing 20%. Top 4 Strategic planning priorities – Collaborative leadership style, Micro-level decision-making, Attract & retain talent, Improving the customer experience & organic growth. Banking CEO work location preferences – In-Office 58%, Hybrid 34%, Fully remote 7%. Expected return on investment after implementing Generative AI (Artificial intelligence) – 51% expect returns in 3 to 5 years. Cyber attack readiness – Well-prepared 54%, Neutral 25%, Under-prepared 21%. ESG embedded into business – 63%. Expecting significant rate of return on ESG investments within 3 to 5 years – 53%. Top 4 Net Zero challenges – 1) Complexity of de-carbonizing supply chains lending & investment portfolio, lack of skills & expertise to implement solutions, 2) Lack of technology solutions, 3) Recruitment challenges , 4) Higher costs, difficulty in raising financing & competition. Top 7 Greatest Impact of ESG strategy – 1) Build customer relationships, 2) Shape capital allocation, partnerships, alliances and M&A strategy, 3) Drive financial performance, 4) Attract next generation of talent, 5) Building brand reputation, 6) Strengthen employee engagement and employee value proposition, 7) Drive total shareholder return. See below key key findings & summary | View CEO report | Banking CEO report
“ 73% Confident of Growth in Next 3 Years, Top 5 Risks to Growth are Geopolitics & Political Uncertainty, Operational Issues, Emerging & Disruptive Technology, Supply Chain & Regulatory Concerns “
- Article continues below - Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle Sign Up Basic Member: $5 Monthly | $60 Yearly Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680) The 2024 Investment Day | 28/2 HK & 6/3 SG Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th February 2024 in Hong Kong, 6th March 2024 in Singapore. Visit | Register here The 2024 Family Office Summit20th March / 3rd April HK & 3rd / 10th April SG Join 100+ single family offices & family office professionals in Hong Kong & Singapore Links: 2024 Family Office Summit | Register here
KPMG CEO Outlook 2023 CEO
KPMG has released the KPMG CEO Outlook 2023, providing key insights of 1,325 CEOs and 142 Banking CEOs on their business and economic outlook for the next 3 years (2024 to 2026), with all CEOs leading companies with annual revenue of more than $500 million and 1/3 of CEOs with more than $10 billion annual revenue.
Summary:
Banking CEO Outlook 2023:
KPMG CEO Outlook 2023 1) CEO Outlook 2023
CEO Growth Confidence (Next 3 years):
- Feb 2021 – 42%
- Aug 2021 – 60%
- Feb 2022 – 60%
- Aug 2022 – 71%
- Sept 2023 – 73%
2023 Top 10 Risks to Growth (Next 3 years):
2022 Top 10 Risks to Growth (Next 3 years):
CEOs on Generative AI (Artificial intelligence):
- AI provides new attack strategies for adversaries – 82%
- Top priority – 70%
- Ethical challenges – 57%
CEOs on Talent Management:
- More likely to reward employees who come to office (assignments, raises, promotion) – 87%
- 3 years away from full return to office – 64%
CEOs on ESG:
- Embedded ESG means value creation – 69%
- ESG progress not strong enough to withstand potential scrutiny – 68%
2) Banking CEO Outlook 2023
Banking CEOs Confidence Level (Next 3 years):
- Confident – 76%
- Neutral – 18%
- Not Confident – 6%
Will have prolong potential recession if interest rates increase & tightening of monetary policies
- Agree – 80% (Global: 77%)
- Neutral – 15%
- Disagree – 5%
Top 5 Biggest risk / most pressing concern for organizations:
3) Banking CEOs Business Priorities
Priority areas for growth in near-term:
- More capital investment to acquire new technology – 54%
- More capital investment to develop workforce skills & capabilities – 46%
Business growth and M&A (Inorganic growth):
Top 4 Strategic planning priorities:
Banking CEO work location preferences:
- In-Office – 58%
- Hybrid – 34%
- Fully remote – 7%
4) Banking CEOs on Technology (AI & Cyber):
Expected return on investment after implementing Generative AI (Artificial intelligence):
- Less than 1 year – 1%
- 1 to 3 years – 25%
- 3 to 5 years – 51%
- More than 5 years – 25%
Top 8 Benefits of Generative Al in organization:
Cyber attack readiness:
- Well-prepared – 54%
- Neutral – 25%
- Under-prepared – 21%
5) Banking CEOs on ESG & Net Zero
Banking CEO ESG / Net Zero Insights:
- ESG embedded into business – 63%
- Significant rate of return on ESG investments within 3 to 5 years – 53%
- Significant rate of return on ESG investments within 3 years – 25%
Top 4 Net Zero challenges:
ESG actions:
- Will take on political or socially contentious issue despite concerns by board – 73% (Global: 61%)
- Will divest profitable businesses if damaging bank’s reputation – 73% (Global: 71%)
- Can tackle challenges simultaneously – 48%
- Will emphasize governance models & transparency protocols – 32%
Top 7 Greatest Impact of ESG strategy:
Diversity & Inclusion
KPMG 2023 CEO Outlook
The 9th edition of the KPMG CEO Outlook, conducted with 1,325 CEOs between 15 August and 15 September 2023, provides unique insight into the mindset, strategies and planning tactics of CEOs. All respondents have annual revenues over US$500M and one-third of the companies surveyed have more than US$10B in annual revenue. The survey included leaders from 11 markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications).
KPMG 2023 Banking CEO Outlook
We surveyed 142 banking CEOs, to collect their perspectives of their business and the economic landscape over the next three years. We gained deep insights from this diverse cohort of banking leaders, who represent countries in the Americas, Europe and Asia (60 percent from the US, UK, Canada and Germany), are spread across the retail, commercial and corporate banking sub-sectors, with 71 percent hailing from organizations with revenues from US$0.5-$9.99 billion.
About KPMG International
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively. KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
Managing $20 million to $3 billion. Investing $3 million to $300 million. For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm. Join Events & Find Services Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services. Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected] Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Quick Links Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle 2021 Data Release 2020 List of Private Banks in Hong Kong2020 List of Private Banks in Singapore 2020 Top 10 Largest Family Office2020 Top 10 Largest Multi-Family Offices2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM For Investors | Professionals | Executives Latest data, reports, insights, news, events & programs Everyday at 2 pm Direct to your inbox Save 2 to 8 hours per week. Organised for success Register Below For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors Get Ahead in 60 Seconds. Join 10,000 + Save 2 to 8 hours weekly. Organised for Success. Sign Up / Register You are:
InvestorProfessionalFamily OfficeExecutive
Select:
SubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- March 2024 - Hong Kong
- March 2024 - Singapore
- June 2024 - Hong Kong
- June 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.