Survey: Banks Vote Schwab Most Likely to Succeed

Most chief executives at mutual fund firms, brokerages, and life and property/casualty insurance companies said Citigroup Inc. is best positioned to succeed in the financial services arena, a survey found.

But banking company executives did not agree, according to the survey by New York-based Tillinghast-Towers Perrin. Instead, banking company executives chose Charles Schwab & Co. of San Francisco as the financial services industry's favorite son.

The survey of 137 financial services firms, released Monday, also identified competition, a changing market and altered customer demand, and distribution as the top concerns of chief executives at banking companies.

Twelve percent of the respondents worked at banking companies. A spokeswoman for Tillinghast-Towers declined to identify any of the companies surveyed, citing confidentiality agreements.

-- Cheryl Winokur

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER