Standard Life Aberdeen Plc’s new Chief Executive Officer Stephen Bird is on the hunt for acquisitions and new technology to lead the money manager into a strategy that’s become indispensable to the industry’s growth: passive management. In his first published interview since taking the helm in September, 53 year-old Bird said he plans to reverse an investor exodus by building a stable of passive products that could eventually account for as much as 30% of its assets. The 512 billion-pound ($677 billion) firm, which relies almost entirely on stock pickers and bond specialists to choose investments, needs to ease its reliance on active managers and embrace the global swing toward index investing if it’s to thrive and grow, Bird said. Passive business “is an essential component of a full solution provider.
from FA News https://www.fa-mag.com/news/standard-life-aberdeen-s-ceo-looks-to-deals-in-passive-shift-58939.html
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