Tuesday, April 21, 2009
Promising Year Ahead for Wealth Management, Thomson Reuters Says
"The finger's come off the panic button," says John Fennelly, global managing director of the wealth management markets division at Thomson Reuters, of the economic environment surrounding the wealth management business. "In September through January, everybody was extremely nervous; who knew what equilibrium would look like?"
We spoke with Fennelly this morning in his large, glass-enclosed office overlooking Times Square about the current state and future of his group a year into the merger between Thomson and Reuters.
"We're hanging in there," he says. "It's a different business environment than we had a year ago. There's been tremendous dislocation, a lot of brokers are changing firms, but we have not seen a huge degradation in users." He notes that wealth management hasn't experienced the meltdown that's occurred elsewhere in investment banking and that the merger has given the combined firm a bigger wealth management presence...
Wall Street Tech: Promising Year Ahead for Wealth Management, Thomson Reuters Says
We spoke with Fennelly this morning in his large, glass-enclosed office overlooking Times Square about the current state and future of his group a year into the merger between Thomson and Reuters.
"We're hanging in there," he says. "It's a different business environment than we had a year ago. There's been tremendous dislocation, a lot of brokers are changing firms, but we have not seen a huge degradation in users." He notes that wealth management hasn't experienced the meltdown that's occurred elsewhere in investment banking and that the merger has given the combined firm a bigger wealth management presence...
Wall Street Tech: Promising Year Ahead for Wealth Management, Thomson Reuters Says
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