Dr. George Calhoun – Executive Director of the Hanlon Financial System Center, June 29th article in Forbes – The Hierarchy Of Financial Superpowers – Who’s Really On Top?. Some firms wield outsized power in the financial system. But the real superpowers are not the ones that dominate the headlines. Banks, asset managers, credit rating companies all contend – but the top rank goes to the companies that construct and license financial indexes.
The phrase “financial superpower” — applied in the private sector (so the Federal Reserve doesn’t count) — calls to mind the iconic firms that own, manage and control large holdings of financial assets, powerhouses like JP Morgan, Goldman Sachs, and BlackRock.
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