The individual in this interview appears to be a senior executive or leader in a large asset management company navigating the complexities of a major merger. They address several strategic challenges facing the industry, including the rise of passive investment, downward pressure on fees, and increased regulatory scrutiny. The executive emphasizes that the merger will better position the company to handle these challenges and grow its business, thanks to the scale and complementary nature of the combined entities. They express optimism about growth prospects, noting that while passive investment has gained significant market share, a substantial portion of flows are still directed toward active management. The executive also discusses the company's approach to future acquisitions, highlighting a focus on smaller, strategic add-ons rather than major deals, and the importance of leveraging partnerships and expanding distribution networks to capitalize on growth opportunities in an evolving market.