Fund houses must get better at active management or offer index products, say industry players. The scale that the Standard Life-Aberdeen merger would bring may facilitate such a move.
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The Swiss asset and wealth manager is shutting its Hong Kong operation, a move that came as no surprise to market observers. More industry closures and consolidation are expected.
In a geographic and strategic repositioning, the service provider targets a 60% rise in regional headcount, relocates a raft of senior staff to Asia and is looking to fill leadership roles.
