Global asset managers could see revenues slump as much as 30% in just two years if pressure on fees and returns continues unabated, according to a report by Morgan Stanley and Oliver Wyman.
Scaling up and ripping out shared costs.
BNY Mellon announced Monday that it has reached an agreement to acquire Cutwater Asset Management, a U.S.-based fixed income and solutions specialist with a 20-year track record and approximately $23 billion in assets under management.
The bonus pool is likely to rise this year, but not everyone will run out winners.
Sorry, Larry Fink.