Get ready for major industry contraction, warns CFA chief

The Hong Kong-based head of the financial services industry’s main educational organisation says the industry faces radical change in the next 10 years. And so does its reputation. For the better. Paul Smith, global chief executive of the CFA Institute, said the industry should prepare for a massive contraction and a culture of ‘capitalism with purpose’ driven by a new generation of responsible investors. Speaking to AsianInvestor following the CFA Institute’s annual conference …