Tim O'Hara

The Road Ahead in Finance: Regulation, Disruption and Human Capital

Timothy O'Hara, Emanuel Friedman, Paul Hamill, Timothy Massad, Stephen Schwarzman, Darryl White, Tim O'Hara, Steve Schwarzman, Tim Massad, Manny Friedman

Six to seven years post-crisis, the financial sector has achieved lower leverage and improved balance sheets at the cost of reduced liquidity, declining returns to 9%, and a shifting landscape where non-bank entities challenge incumbent dealers. Regulatory pressures and technological shifts are driving a transition toward electronic fixed-income markets and blockchain-based data integrity, while firms face intense competition for talent from Silicon Valley. Ultimately, industry success depends on balancing ethical culture with digital innovation to stabilize returns at 13–15% without stifling broader economic growth.