Money Managers Face Pressure, Seek Deals

Money Managers Face Pressure, Seek Deals
·1 min read

Asset and wealth managers’ appetite for deals stayed strong in early 2021, even if the industry’s latest consolidation wave produced only a handful of multibillion-dollar blockbusters. The industry agreed to 145 mergers and acquisitions in the six-month period ending in mid-May, including 98 deals between wealth advisers, according to a study this week by PwC. There were fewer than 125 in the same period a year earlier. Driving many of those transactions were firms’ push to expand their offering

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