Fast-growing financial services companies go global

Our exclusive survey of 100 of Europe's fastest growing financial services companies reveals the regions that these companies are targeting in the years ahead

Europe’s fast-growing financial services companies are increasingly global in their outlook, recognising the potential of new markets to drive their growth, particularly in regions such as Asia, where the number of middle-class citizens with the means and appetite to buy financial services is now growing rapidly.

Europe itself will continue to be a crucial market for these businesses. Almost three-quarters (71%) of fast-growing firms expect to target another Western European business over the next three years. However, this is down on the 80% seen over the past three years, with other regions picking up accordingly. Some 12% of firms look forward to targeting companies in Asia, a third up on the past three years.

And fast-growing financial services businesses have high hopes for these new marketplaces. Some 47% expect the market for their products and services to increase greatly in Asia, while 33% say the same of the African market. By contrast, in more mature markets, fewer respondents expect demand to increase greatly, with Western Europe (27%) and North America (26%) offering less enticing growth prospects.

“The largest financial services businesses will already have a global presence, but smaller fast-growing companies will very often have begun by concentrating on their home markets,” says Pinsent Masons’ Hannah Brader. “That will likely change over time given the growth potential of emerging economies, with their rapidly growing middle classes and the extra demand for financial services they bring.”