A Core Skill Every Fund Manager Needs to Learn
Consolidation seems inevitable in the asset management industry. Fenchurch’s Malik Karim says CEOs need to hone their M&A chops.
Deals are elusive
Photographer: Bloomberg/BloombergDWS Group GmbH is “actively thinking” about a transformational deal, Chief Executive Officer Asoka Woehrmann said last week. Credit Suisse Group AG and UBS Group AG are both debating what to do with their fund management businesses. Schroders Plc spent several months contemplating a bid for M&G Plc this year. Further consolidation in Europe’s asset management industry seems inevitable, but it’s been elusive.
The pressures making economies of scale a must-have include technology spending demands, diminishing fees and the seemingly unremitting drift of clients to low-cost index-tracking products. They’re not going away anytime soon.