Posted on Oct 23, 2020 at 12:34 PM
Consolidation shows no signs of slowing down in the management sector. Recently, Morgan Stanley paid $ 7 billion to buy Eaton Vance. In France, the future of Lyxor, the management subsidiary of Société Générale, comes back regularly to the table while competitive pressure remains intense. For activist investor Nelson Peltz, this movement has only just begun and will give birth to a handful of behemoths. And he intends to be there.
Asset managers “have stable business models facing certain challenges that we can overcome,” he said this week at a conference. The sector is not threatened by environmental issues and continues to generate profits, even if the pressure on margins is real. “You’re going to see a lot of them merge, and two or three emerge in a form comparable to BlackRock,” he added.