Fidelity, T. Rowe Plan to Cut Wall Street Out of CEO Meetings
- Firms will arrange their own access to chief executives
- Banks have been the go-between, charging fees for access
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Wall Street is losing its lucrative spot as the middleman between money managers and corporate executives.
Fidelity Investments and T. Rowe Price Group Inc. are among investing firms that plan to independently arrange meetings with company executives, according to statements from the fund companies issued on Wednesday.