Asset Managers May Be Prowling For Deals

Asset management companies may be increasingly driven toward consolidation following BlackRock's (BLK Quote) deal to buy Barclays (BCS Quote) asset management unit Barclays Global Investors, according to a report from bond research firm CreditSights.

CreditSights analysts say declines in both stock and bond markets mean fewer assets to manage, meaning money managers may look to increase revenues through economies of scale.

Citing several press reports that Bank of New York Mellon (BK Quote) was interested in buying BGI, CreditSights assumes it will now be looking around at other potential acquisitions. ...