There is a “meaningful shift in the strategic intent” of Australian chief executives, according to PwC, with a third targeting entering financial services.
The latest PwC CEO survey spoke with over 4,000 CEOs globally, including in Australia and found the number of CEOs who are said they have begun entering new sectors has jumped from 30 per cent last year to 47 per cent.
This is ahead of the global average of 42 per cent and represents a “meaningful shift” for Australian companies given they were eight percentage points behind the global average last year.
In the last five years, has your company begun competing in new sectors or industries in which it hadn’t previously competed?
| 2025 | 2026 | |
| Australia | 30% | 47% |
| Global | 38% | 42% |
Source: PwC, January 2026
PwC said the appeal of moving into a new sector lies in higher revenue, higher profit margins and greater CEO confidence in company growth prospects.
Within this, financial services was the second most-popular sector to enter (behind industrials), being cited by 33 per cent of CEOs. It was particularly identified by CEOs in the technology sector which are seeking to grow in banking and capital markets, perhaps as a way for fintech firms to enter the payments sector.
“Partnerships between traditional financial players and non-financial firms are transforming capital deployment, management and insurance, fostering efficient growth models.
“Australia’s financial institutions have a critical role to play in shaping the next decade by reassessing capital allocation, deployment, and risk management. As climate change and AI disrupt the financial landscape and as capital flows increase significantly across public and private markets, banks, super funds, and insurers will need to adapt their strategies accordingly.”
Some 27 per cent of chief executives reported seeking future acquisitions outside of their core sector, often via minority stakes in strategic targets or new sectors with a view of scaling up to majority ownership.
“This staged approach allows market understanding and cultural fit to be tested before full commitment. In an uncertain environment, where CEOs are reluctant to make big bets, minority stakes are a no-regrets choice—building optionality without requiring full commitment.”
Given how this movement was progressing, PwC said CEOs report “payoffs to varying degrees” when it came to revenue improvements.
“In Australia, CEOs report payoffs to varying degrees. Only a third (29%) of Australia’s surveyed organisations generate more than 20 per cent of revenue from new sectors they’ve entered over the past five years.
“When it comes to competing in new sectors or industries, some of Australia’s organisations are making exploratory moves, while others are already making material shifts. Whether they’re pilots or pivots, all are indicators of progress, and some will evolve into strategic commitments that deliver real returns.”
