Hilda Ochoa-Brillembourg

The Age of Asset Management: Harbinger of Stability or Chaos?

Tracy Alloway, David Hunt, Jim McCaughan, Hilda Ochoa-Brillembourg, Ronald O'Hanley, Nouriel Roubini

Experts including Jim McCaughan, Hilda Ochoa-Brillemburg, and Nouriel Roubini analyze how post-crisis re-regulation has shifted global capital flows from bank-dominated systems to asset managers, creating a structural disconnect between macro liquidity and market execution. This transition has fostered a liquidity paradox where ETFs and algorithmic trading amplify volatility while the correlation between equities and bonds inverts, forcing active managers to seek alpha in illiquid sectors like emerging markets. Ultimately, the panel concludes that investors must adjust return expectations downward and that future systemic risks stem primarily from political balkanization, cyber threats, and the need for multilateral institutional reform to sustain global capital mobility.