Friday, 26 December 2014
Last updated 1 day ago
Feb 17 2006 | 12:00am ET
BlackRock and Merrill Lynch reached an agreement Wednesday that will create a company with nearly $1 trillion in combined assets under management.
BlackRock will acquire Merrill Lynch Investment Managers from its parent company in exchange for an almost 50% stake in the combined company, which will retain the BlackRock name. The transaction has been approved by the boards of directors of both companies and is expected to close in the third quarter.
The deal will also create the largest fixed-income manager in the U.S. with a combined $415 billion in assets under management.
Laurence Fink, ceo of BlackRock, will serve as chairman and ceo of the combined company and Ralph Schlosstein will continue to serve as president and a director. Robert Doll, president and cio of MLIM, will become vice chairman, cio of global equities and chairman of the private client operating committee
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.