Economies of Scale
EDITOR'S LETTER
Having assembled a collection of subsidiaries, each with their own investing styles, the obvious next step for Allianz Dresdner Asset Management and Mellon Institutional Asset Management is to find economies of scale.
The challenge of that next step is walking the line between delivering savings to individual units through association with the whole, and requiring conformity that might stifle individuality. It's no easy line to walk--particularly because change is not only uncomfortable, but it
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