(Bloomberg) -- BlackRock Inc. Chief Executive Officer Laurence D. Fink said exchange-traded funds may eventually make up 25% of the mutual-fund industry.
ETFs will exceed that if active mutual-fund managers don’t beat their benchmarks, Fink said at the 2014 ETF Virtual Summit today. Growth of exchange-traded products will be aided by adoption in Europe and Asia, said Fink, whose iShares unit is the world’s largest provider of ETFs.
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
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