Episode description

HIGH FINANCE: Laurie Taylor talks to Brett Christophers, Professor in the Department of Human Geography at Uppsala University, Sweden, whose latest book argues that banks have taken a backseat since the global financial crisis . Today, our new economic masters are asset managers who don’t just own financial assets, they also own the roads we drive on; the pipes that supply our drinking water; the farmland that provides our food; energy systems for electricity and heat; hospitals, schools, and even the homes in which many of us live—these all now swell asset managers’ bulging investment portfolios. They’re joined by Megan Tobias Neely, Assistant Professor in the Department of Organization at Copenhagen Business School and author of a study which takes us behind the designer suits and helicopter commutes to provide a glimpse of the lives and times of the mainly white men who dominate the hedge fund industry where about 10,000 firms manage $4 trillion in assets and the average earnings are $1.4 mm a year - which can rise to several billion.

Producer: Jayne Egerton