The financial services industry continues to evolve, and an Ernst & Young LLP (E&Y) executive pointed to potential pitfalls that acquisitive companies in the sector should bear in mind as they look to remain competitive. At a forum highlighting trends in the financial services arena, Robert Stein, chairman of E&Y’s global and U.S. financial services division, noted that the ability of companies to offer specialized products and services and to harness the power of the Internet would be critical to success. E&Y hosted the session earlier this fall in New York.
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