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Northern Trust’s Thomas Sees More Consolidation for Fund Firms

Shundrawn Thomas
Shundrawn ThomasSource: Northern Trust Corporation via Businesswire

The asset management business will further consolidate through mergers and acquisitions and by the biggest companies taking ever-greater shares of the market, according to Shundrawn Thomas, president of Northern Trust Asset Management.

“Much of the consolidation I actually expect to see is happening organically,” said Thomas, who spoke Wednesday at the Bloomberg Invest Global virtual event. “The proverbial winners have gotten larger.”