mcquarrie has planned 30 job at its equities unit.he ceo of the world's largest money manager waiting on the future of asset management. larry fink warns of big changes. >> we believe there is going to be a massive shift more into passive, and we believe it's going to create a huge consolidation and asset management. anna: peter fitzgerald, head of multi-assets at aviva investors, is with us. your thoughts on the asset management industry? do you think we are headed towards a wave of consolidation? peter: i suppose there are two points. one is consolidation, and one is the move towards passive. we do see the environment for some consolidation, particularly with regulatory costs and distribution costs increasing materially for us. i don't think that is an unrealistic thing to expect. however, there's an opportunity for managers to generate high performance, which is elusive for big businesses. i do see some consolidation. i do see passive solutions. matt: the idea is that brokers have to put their clients' interests first, hence the mo

analysts like mcquarrie say these data points give policymakers a bit of room to breathe as they push through these supply-side reforms that they have been touting for quite some time. manus: does this mean that further stimulus is essentially ?ff the table some commentators are saying we will only get the full effect of the stimulus instituted a few months ago later on this summer. of: that is one line thought. bloomberg intelligence looks at this and says, what this data shows is that the effects of stimulus and the fiscal measures we have seen towards the end of last year and at the beginning of this year are actually losing their potency. they are able to support growth, but they are not able to push growth much further forward. they are saying, look, it shows that entrepreneurs are staying on the sidelines. if you look at the fixed asset investment we have seen, a lot of that is being supported by state-owned enterprises. private companies are holding back, which points to their concerns about the economic picture. bloomberg intelligent say that the data points to gdp coming in a

we look at the future of the financial services industry as hsbc and mcquarrie are said to count headcountsd