businessClosed Dec 10, 2024
US Ambassador to UK Sees Trump Wanting Early Wins
- Bloomberg’s inaugural Women, Money & Power event in London brings together senior women across finance globally.
- Key topics include the outlook for private markets, and what another term in the US for Donald Trump means for markets, policy and economies.
- Most speakers are upbeat on the outlook for the US despite Trump’s threats of more tariffs on other countries. They see Europe as a potential weak point.
- Some panelists say they are plowing money into private markets. Guggenheim’s Anne Walsh cites estimates the private credit market could double from here.
Thank you for joining us for our live coverage of Bloomberg’s Women, Money & Power event in London. These are the key takeaways:
- Wall Street’s top advisors reckon dealmaking will pick up in 2025. There was a general consensus that clients were more reserved during the last year of President Joe Biden’s administration and are now hopeful that approvals will be swift after Donald Trump’s inauguration. “The mindset is the US has definitely been much more difficult under Biden, and that will change and get better,” said Alison Harding-Jones, Deutsche Bank’s global head of M&A.
- Some of the world’s most powerful and influential money managers see Trump’s warnings of broad US tariffs as more of a negotiating tactic. That was the view of Franklin Templeton’s Chief Executive Officer Jenny Johnson and Guggenheim Partners Investment Management’s Chief Investment Officer Anne Walsh.
- Man Group CEO Robyn Grew revealed the firm is open to further acquisitions, although she added any acquisition would need to add uncorrelated content or capabilities and be the right scale. “Can I grow it? Yes. Could I buy it? If I can find the right thing, for sure,” she said.
- The $1.6 trillion private credit market, which has seen a seismic change in recent years, is expected to double in size with suggestions that retail investors could get involved in the burgeoning asset class.
- And if there’s one weak spot in the minds of Wall Street, it’s Europe. Citigroup CEO Jane Fraser cited an inflexible labor market while Guggenheim’s Walsh said the continent has struggled, and some panelists cited geopolitical risks including turmoil in France and Germany. Others, though, saw Europe as somewhat “overlooked”.
