BlackRock, JPMorgan Chase and Vanguard Form ‘Super League’ of Asset Managers, Controlling $4,900,000,000,000 in Europe: Report

Top US asset management firms BlackRock, JPMorgan Chase and Vanguard are reportedly having massive growth in Europe, outpacing the region’s local rivals.

According to a new report by the Financial Times, BlackRock, JPMorgan Chase and Vanguard have more than doubled their assets under management (AUM) in the European region in the past decade.

Says Huw van Steenis, partner and vice-chair at management consultancy Oliver Wyman,

“We’re seeing the emergence of a ‘super league’ of asset managers that have broken away [from the rest of the industry] – dominated by US firms and alternative asset managers, who also are growing share in Europe.”

Data from ISS Market Intelligence shows that BlackRock, Vanguard and JPMorgan oversaw $4.9 trillion in the European region as of the end of May, up from $2.2 trillion ten years earlier.

Meanwhile, during the same time period, the UK sector’s assets under management increased from $1.2 trillion to $2 trillion, France’s grew from $870 billion to $1.5 trillion and Switzerland’s and Germany’s each approximately doubled to $1.4 trillion.

The figures include mutual and exchange-traded funds but exclude money market, fund of funds or private market products.

Says Manny Roman, chief executive of California-based Pimco,

“If you’re a midsized equity manager in Europe, and you don’t have the size of the US market to help you, it looks incredibly bleak.”

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