A perspective on industry trends and challenges

There are a lot of things currently going on that are keeping asset management professionals busy. There are both longer-term trends such as consolidation and the convergence between traditional and alternative asset managers, as well as more acute developments such as a tougher macro-economic environment and market volatility.

Prior to joining AllianceBernstein last year, Onur Erzan spent 19 years with McKinsey, most recently as a senior partner and co-leader of its wealth and asset management practice, making him well positioned to provide insight on the development of the asset management industry. “Asset management is a cyclical business by definition,” says Onur Erzan, head of the global client group and head of private wealth at AllianceBernstein, when asked about how he sees the industry developing going forward. However, he sees huge growth potential for asset management over the long term. While he expects the industry to become larger, a