04.22.24
Giant Funds Now Rule Wall Street
by: Matt Wirz
Large investment firms are taking over the financial system, some now controlling sums greater than the economies of large countries. They are pushing into new business areas and nudging once-dominant banks toward the sidelines. Traditional and alternative asset managers now control twice as many assets as U.S. banks. Large banks have responded by becoming more like fund managers, bolstering investment teams.
Read the full article on The Wall Street Journal