McKinsey hands over control of controversial in-house asset manager
New York-based Neuberger Berman will manage assets of MIO, which invests private wealth of consulting firm’s partners
New York-based Neuberger Berman will manage assets of MIO, which invests private wealth of consulting firm’s partners

Wall Street bank to draw on asset manager’s expertise to oversee $80bn in client assets

Investment bank has secured its dominant position as megadeals rebound

Head of financial services group’s $1.4tn asset management division expects new tech to unleash huge productivity gains

The $1.6tn investment firm has hired former BlackRock executive as it doubles down on alternative offerings

Deal would end independence of one of City of London’s most historic names

Move comes as buyout groups, attracted by cash flows and a market ripe for consolidation, snap up mid-tier accountants