Economics
Scots Money Managers Like Regional Banks Whether Obama or Romney
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Scottish money managers are investing in U.S. regional banks, betting they will do well as the economy improves whoever wins the presidential race today.
Aberdeen Asset Management Plc, Scotland’s largest fund company, owns Little Rock, Arkansas-based Bank of the Ozarks Inc., which has risen 8 percent this year. Edinburgh-based Scottish Widows Investment Partnership this year bought shares in SunTrust Banks Inc., which gained 53 percent through Nov. 2, and Ohio lender KeyCorp, up about 9 percent.