The UK's financial services industry will have an advantage over the rest of the EU following the implementation of the retail distribution review (RDR), says Credit Suisse's Matthew Spencer.
Spencer, director and head of intermediaries management UK & Channel Islands, says he ‘absolutely’ believes Credit Suisse will have an advantage within Europe following the RDR implementation, and that there will be people who will move their assets to the UK.
He considers the RDR to be a blueprint, which is likely to be replicated in other jurisdictions around the world.
"We see RDR and the regulators here as the frontrunners, as the lead that will spread throughout the world frankly, as to how wealth management will work in the future. So if this is the lead, we will embrace it but we will do it not just for the UK but across all our network."
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