Monday, 23rd November 2009

 
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30 October 2009 - Press Briefing

Henderson chief predicts large-scale industry consolidation

Andrew Formica, chief executive of Henderson, has predicted a “lot of strategic consolidation” in the asset management industry over the next 18 months, adding his firm would be in the market for “the right” fund management assets “at the right price”, according to a report in The Times, London.

Formica’s comments came as the UK fund manager unveiled a £5.9bn (€6.6bn) rise in client assets during the three months to the end of September, helped by the market rally.

Tags: Asset Management

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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