Saturday, 28 March 2015
Last updated 16 hours 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
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…