How M&A reshaped the funds industry in 2013

Consolidation has been the watchword in the asset management sector this year and, consequently, the structure of the funds industry is changing as rapidly as the City skyline.

Some historic deals were done in 2013, and there can be no doubt that by this time next year, the industry could look very different as merged firms overhaul their product ranges and key staff move across or move on. Perhaps most notable of the M&A seen in 2013 was Aberdeen’s ultimately successful battle to buy SWIP, the investment management arm of mega life company Scottish Widows. The deal is set to create the largest publicly-traded fund house in Europe, with some £350bn in assets under management. In the summer, Schroders bought Cazenove Capital, bringing together two fund gro...