Sixty-one percent of U.S. money management executives surveyed by KPMG are looking to add to their firms' headcount over the next year even though they're not expecting a “complete” economic recovery for more than two years.
Just less than half of the 100 executives, surveyed in May and June, predicted an incremental 1% to 3% increase in staff.
Respondents cited regulatory and legislative factors as reasons for their generally “dour” economic outlook, with 57% predicting that a full recovery can't be expected before the end of 2013.
Still, 75% said their firms had significant cash on their balance sheets, with roughly a quarter reporting they already were investing that cash and another quarter expecting to begin investing by the first quarter of 2012. They cited technology, strategic acquisitions and expansion into new markets as leading targets for those investments.