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As fund companies continue to look to streamline their operations to cut costs, even with the market recently rising, they will most likely merge additional funds, experts say. Some, particularly asset managers held by banks, will look to be sold.
June 19 -
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State Street Corp. and Vanguard Group are reeling at the annoucement of BlackRock Global Investors, the $13.5 billion merger between BlackRock and Barclays's asset management arm.
June 11 -
BlackRock is reportedly the lead bidder for Barclays fund unit, and could pay more than $12 billion for the company, which has $1.5 trillion under management. BlackRock manages $2.81 trillion.
June 9 -
Fidelity Investments chief of technology and real estate operations, Marvin Adams, will be leaving the company, according to reports.
June 8 -
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Capital Group will cut 9% of its global workforce of 9,000, or 820 jobs, this month. This will be American Funds parent companys second round of layoffs, in response to a 29% decline in assets from $1.2 trillion to $850 billion. The company eliminated 500 jobs in January.
June 5 -
Credit Suisse has formed an investment strategies and solutions group, to be led by David Russ, the former chief investment officer of Dartmouth Colleges office of investments. The division will collaborate with the institutional distribution team.
June 2