Capital Group CEO Sees More M&A Coming for Active Asset Managers

The global asset management industry is poised for more consolidation as active funds react to being squeezed by passive investment products, according to Capital Group Chief Executive Officer Mike Gitlin.

“Last year was the most amount of deals you’ve seen in the asset management industry in 45 years,” Gitlin said during a fireside chat at Capital Group’s Singapore office on Wednesday. “That is going to be a persistent theme.”