During New York Fashion Week this month designer Christian Siriano launched a scarf design with a pocket to carry a mobile phone. Investment banks too are being driven to customise their traditional products, with research receiving plenty of attention as clients, particularly hedge funds, seek alternative services that could give them an edge over rivals.
Sandy Bragg, chief executive of Integrity Research Associates, which provides information on alternative research providers, estimates that 15% of total commissions, approximately $1.8bn (â¬1.3bn), is spent on alternative research and this could increase to between 20% and 25%, or $2.5bn, in three to five years.
