Opinion

Consolidation: it’s all about culture

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What emerges most clearly is the importance of culture when putting together asset management businesses where the only real assets are your own people and the investors they serve

By Nick Evans

Partly by design, but mainly by accident, this issue of EuroHedge profiles the progress of the two biggest recent hedge fund M&A deals in Europe: Man’s takeover of GLG at the end of 2010 and Henderson’s acquisition of Gartmore at the start of 2011.

In both instances, what emerges most clearly is the importance of culture when putting together asset management businesses where the only real assets are your own people and the investors they serve.

In the case of Man, CEO Peter Clarke is adamant that the very different and separate cultures of Man