New management

REVIEW SUMMARY
Indutrys. Money management
Trend. Managers are leaving big institutions to form their own companies.
Key. Chaos in the financial services industry creates opportunities for money managers to start their own firms.

After the last few years of chaos in the financial markets, many investors have lost confidence in the people who manage their money.

Lehman Bros. and Bear Stearns disappeared, Bank of America acquired Merrill Lynch and investors withdrew billions of dollars from well-established firms such as Naples-based Private Capital Management after a disastrous 2008.