by the UK’s own Big Bang moment in 1986. “The UK led the way with the Big Bang — it’s just taken 30 years for the US to catch up,” says the executive.
The US asset management giants are not resting on their laurels. They continue to invest heavily in technology and data analytics to stay ahead of the competition. BlackRock, for example, has ramped up its use of artificial intelligence and machine learning to improve its investment strategies and client service.
The dominance of American asset managers in the UK and Europe is a stark reminder of the global nature of the financial services industry. As clients demand more efficient and cost-effective solutions, the US firms are well-positioned to meet those needs. And with the support of a business-friendly administration in the US, they are poised to continue their expansion and growth in the years to come.