Niklas Nolzen

Niklas Nolzen, a Partner at McKinsey and expert in European asset management, discusses the industry's paradox of record assets under management paired with shrinking profits. He explains rising costs driven by inflation and tech investments, impacting margins. The conversation highlights a shift toward lower-margin products like passive ETFs, along with the rapid growth of active ETFs as a bright spot. Niklas urges asset managers to adopt flexible business models and strategic resource reallocations to navigate these dynamic challenges.