Australia’s financial services companies will turn to mergers and acquisitions as they deal with lower profit growth and competitive pressures, according to a report by the Australian firm MinterEllison.
The report, ‘M&A Outlook: Australian Financial Services Towards 2030‘, notes that financial services companies are dealing with the fallout of last year’s Financial Services Royal Commission, which looked into misconduct in the banking and financial services sector and recommended that 76 changes be made to the Australian financial industry to produce tougher regulations and improved governance. Most have been adopted by the government.
