Broker-dealers need to navigate near-term choices for clients, shareholders and employees while developing longer-term strategies to position for growth once the crisis subsides.

Like all business leaders, in recent days, capital markets executives’ attention has dramatically shifted to the unprecedented public health and financial crises resulting from the Coronavirus. In the immediate term, leaders are rightfully prioritizing employee health and safety, business continuity, and protection against extensive downside risks and threats to the financial system.

The COVID-19 global pandemic has led to significant market volatility swings, remote working constraints, changes in trading practices, and general uncertainty. How can capital markets executives help their clients and lead their organizations through this turbulent time, while thinking about longer-term strategy?

We believe that in addition to the urgent crisis management underway, broker-dealers should not put their strategy efforts on hold. This may seem counterintuitive, given the current climate. However, as the crisis unfolds, the fundamental challenges are not going away, and some will be exacerbated. Capital markets firms that focus only on crisis mitigation and cost-containment will be left further behind coming out of the crisis.

While it is difficult to think about strategy in times of crisis, that is exactly what the best organizations do. They can make tough near-term choices, while also investing through the downturn. Here are the opportunities that we think that capital markets firms need to start pursuing right now.