Just when you thought the behemoth couldn’t get any bigger, the Financial Times has now revealed that Google is eyeing entering the asset management business.
The report explains that two years ago, the search engine giant commissioned a financial services research firm to explore how it might break into the asset management business. And some fund managers have made no secret of the fact that they see this as a major threat.
“A senior executive at a large U.S. fund company told FTfm in April that its ‘biggest fear’ was Google deciding to enter the fund management sector,” the article states.
Read more here.