| Wall Street banks led by Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) are stepping up their efforts to grab a large stake in the global market for exchange traded funds, or ETFs, worth an estimated $3 trillion.
The stakes, and the potential for growth, are high. Goldman and JPMorgan each have over $1 trillion in assets under management, largely in actively managed accounts. In rolling out increasing numbers of passively managed ETFs, they will be taking on the likes of Vanguard, BlackRock (BLK) and State Street (STT), to name a few key players. But executives at Wall Street banks see plenty of room for new entrants like themselves..........................................Full Article: Source
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