Buy side builds bots to cut trade costs

Ben St. Clair
29 Oct 2019

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It’s not easy being Larry Fink. The head of BlackRock, who has seen the asset manager grow into a $7 trillion investment giant during his 30 years at the helm, is having to lay off staff. Around 3% of the firm’s global employees.

Fink is not alone. Greg Johnson, the boss at Franklin Templeton, is shedding as much as 5% of headcount as the firm adjusts to losing a fifth of its assets under management during the past five years.

The retrenchment at these two companies is a familiar theme across

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