How US asset management leaders are future-proofing their firms

US asset management leaders are charting a steady, disciplined path forward focused on cybersecurity, AI integration, and regulatory rigor.

According to KPMG’s 2025 US CEO Outlook survey which included 110 asset management executives, today’s CEOs are balancing innovation with caution.

“Asset Management CEOs are playing the long game,” says Yesenia Scheker-Izquierdo, US Sector Leader for Asset Management at KPMG. “While advancing their AI agenda, they’re doubling down on fundamentals – their people, cybersecurity and regulatory readiness – to build firms designed to last.”

If there’s one issue keeping asset management CEOs awake at night, it’s cybersecurity. The survey found that 36% of respondents cited cyber threats as the most significant factor shaping short-term strategy, outranking even global economic uncertainty (33%).

Almost half strongly agree that cybercrime poses a direct threat to their prosperity over the next three years, a higher rate of concern than any other industry measured. The good news is that they are acting to mitigate the risk.

More than half have ramped up cybersecurity spending and roughly 23% now say they feel only “aware” or “not concerned” about vulnerabilities, marking the highest confidence levels across industries. Many are also deploying AI as a digital safeguard, with 31% citing fraud detection and cyber-attack response as the top advantage of AI investment.

Artificial intelligence remains the industry’s most significant long-term investment focus, but the survey suggests CEOs view it more as a shield than a growth engine.

Despite economic headwinds, two thirds agree that AI ranks among their top investment priorities, with most planning to allocate 10–20% of budgets to AI initiatives over the coming year. But while 74% don’t foresee meaningful returns for one to three years, only 9% predict AI will be “transformational,” and a mere 1% list new AI-driven revenue streams as their main goal with risk management capabilities prioritized.

“Trust is the currency that matters in asset management,” says Dave Neuenhaus, Line of Business Leader for Asset Management & Private Equity at KPMG. “For CEOs, rapid AI adoption isn’t enough. They’re pursuing strategically advantaged AI adoption that differentiates them from competitors with informed agility, sharpened risk management, and strategic decision-making capabilities to succeed in the rapidly evolving, fee conscious, asset management ecosystem.”

More than half of CEOs favor stronger AI oversight, the highest proportion across all industries, though 69% worry that evolving rules could hinder success. Nearly half are increasing investment in compliance and reporting, while one third identify “greater regulatory understanding” as a key leadership trait.

On economic matters, 57% express confidence in global economic growth, making them again the most optimistic among industries. However, 80% feel heightened responsibility to secure long-term success. Most expect hybrid work models to persist, with 59% planning three in-office days per week within three years.

Looking ahead, CEOs plan to direct capital toward technology, innovation, and real estate, while 62% name client experience as their top operational focus for the next two years.