Wisdom of independence

By Maria Teresa ComettoJune 2012 (Magazine)

In the aftermath of the 2008 financial crisis, independent US asset managers have increased their revenues and profitability more than the asset-management subsidiaries of the larger US financial institutions. Publicly traded asset managers posted median profitability of 35% last year, compared with 25% for subsidiaries, and grew revenues 15% during 2011, compared with 6% for subsidiaries, according to recent analysis from Casey, Quirk & Associate, a consultant to the global asset management industry.