Chains of Finance: How Investment Management is Shaped
Investment management firms are estimated to control assets totalling $100 trillion, equivalent to about one year of total global economic output, and that power has a massive impact on the economy and society (TheCityUK, 2014). We may be entering ‘the age of asset management,’ suggested the Bank of England’s Director of Financial Stability (now Chief Economist), Andrew Haldane, in an April 2014 speech. Yet today’s investment management system is a bit like a black box – it is complex and a mystery to most people, including management scholars. The media and academic attention have been focused far more on banking or various types of ‘traders’ than on the investment management industry itself – despite the large impact of the latter on the economy and society more broadly. By writing this book (Arjaliès, Grant, Hardie, MacKenzie, & Svetlova, 2017), we hope to account for the inner workings of the industry, shedding light on the known but above all the unknown of investment management practices.
Copyright (c) 2019 Diane-Laure Arjaliès, Philip Grant, Iain Hardie, Donald MacKenzie, Ekaterina Svetlova
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