Breaking news: BlackRock's Fink on consolidation and BGI
BlackRock announced it has executed a purchase agreement to acquire Barclays Global Investors, making the resulting company, BlackRock Global Investors, the world's largest fund manager.
Larry Fink, chairman and CEO, spoke with Euromoney about industry consolidation and what a transformational deal such as BGI would mean for BlackRock.
BGI adds the world leader in passive and index-tracking investment styles to BlackRock’s existing expertise in fixed income, equity and alternatives including funds of funds, real estate and distressed assets. Subscribers can read Euromoney's exclusive interview published in our June issue.
Larry Fink wants BlackRock to be one of the key names in finance for the future. Consolidation of investment managers may achieve that goal. But his firm’s influence on the present is already great, as adviser of choice to banks and governments alike on problem assets totalling $7 trillion.
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