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Articles tagged "BlackRock"


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Tom Sipp: In a private setting, you can think long-term.
July 11, 2024 at 10:05 PM

Brendan Curran: 'Our key business has quite a bit of momentum behind it.'

Ten years into a pilot, State Street finally joins BlackRock and promises an annuity baked into 401(k) funds as post-80 longevity insurance

State Street is still working on finishing touches but is building on its momentum after leaping from seventh to third in retirement asset management

June 27, 2024 at 1:25 AM

Jason Wenk: It was a mutual decision.

Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k

Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.

June 7, 2024 at 1:44 AM

Todd Russ' defense of the 'anti-ESG' law was slammed by the Oklahoma attorney general as a 'failure.'

Oklahoma bid to blacklist BlackRock bombs in a big way, and the oil state may set back anti-ESG investing efforts in 19 other states

The state's pension board disregarded the Republican-dominated government by extending BlackRock's contract to manage $7.3 billion of its retirement assets -- BlackRock still scaled back its ESG stance.

June 3, 2024 at 7:09 PM

Larry Fink: I believe it will be, one day, the most used investment strategy in defined contribution plans.

Fidelity, Voya and BoA smooth BlackRock's launch of guaranteed-paycheck ETFs but 401(k) plan participants may yet balk at high, unseeable fees and intangibility of benefits

Big recordkeepers greenlit Wall Street asset manager's novel 'Paychecks' product, with BlackRock expressing ambitions to also expand the product to non-retirement accounts

May 11, 2024 at 3:31 AM

Jonathan Holtaway: This one has some legs.

FDIC bid to strip BlackRock and Vanguard of superpower 'has legs' and reckoning may start with curbs on self-certification of passive index funds

The bank deposit insurer could make the $17-trillion ETF power bloc lose the ability to self-certify as 'passive' funds because their sheer scale could make them an active menace to the banking regulator, at least in this political climate.

April 25, 2024 at 1:29 AM

Craig Siegenthaler: When [can] BlackRock get back to 5% base organic growth?

BlackRock invokes Envestnet's fresh promise in pushing iShares by model portfolios on earnings call where merciless analysts pepper its execs with questions about sub-5% organic asset growth

Assets soared to $10.5 trillion and earnings per share beat their bogey, but the New York City money manager just keeps sinking because growth relies too much on market gains.

April 13, 2024 at 2:06 AM

Maggie Serravalli keeps showing up in top roles.

Fidelity hits staggering $12.6 trillion in 2023, bids adieu to headhunted retail chief, beats Schwab's performance -- not least because it doesn't own a bank -- and sees Maggie Serravalli's star shine

Retail was Fido's weakest division with 3% growth and its chief departed; it's B2B units -- 401K and custody/clearing -- jumped 6% each; Serravalli now serves as the company’s chief administrative officer.

February 9, 2024 at 5:33 AM

Alyssa Stankiewicz: ESG funds are not the only ones employing different strategies.

Blacklisted 'woke' firms like BlackRock and State Street still have a lock on AUM in oil states like Oklahoma; anti-ESG politicians underestimated the fierce independence of state money managers and Republican lawmakers who back them

Oklahoma public pension fund revolts against state Treasurer and refuses to divest ESG funds in protest against mixing politics with fiduciary duties -- roughly a repeat of the ESG revolt in reverse.

November 2, 2023 at 1:50 AM

Lawrence Fink: We love the opportunity of having Aperio.

BlackRock brass cited 'Aperio' again and again, today, amid analysts' grilling about 'depressed flows' -- it bought the direct-indexing unit in the feverish grab of 2020-2021

CEO Larry Fink and CFO Martin Small used the $39-billion unit, acquired for $1 billion, to show they can both grow organically and explain why they plan a new M&A round to grow inorganically.

October 14, 2023 at 1:18 AM

Alex Sauickie: I am committed to building upon the strong foundation established by Alan and Michael.

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.

July 26, 2023 at 2:34 AM

Ric Edelman: Gensler realizes he's backed himself into a corner.

BlackRock believes that 33 is the charm as it applies to sell a spot Bitcoin ETF, after 32 prior attempts met failure at the SEC -- part of a new gold rush of applications

The $9-trillion asset management giant is betting its Bitcoin application -- the 33rd lodged with the SEC -- will finally clear all hurdles.

June 23, 2023 at 10:38 PM

Andrew Besheer: "...the majority of Vanguard’s indices would no longer be purely passive."

How fooling around with ESG put Vanguard and BlackRock on countdown for still selling many ETFs as 'passive' indexing portfolios

The duopoly has near $10 trillion of passive indexes but not for long if red state AGs have their way

June 1, 2023 at 2:39 AM

Betsy Jazynka: The website and our upcoming marketing cast advisors as heroes of their own stories

Biz Briefs: SmartAsset makes deal to dumb down selling for unsalesy RIAs • Vanguard re-explains conflicting ESG signals • Alex I jabs Alex II at Citywire in bare knuckle exit [to Goldman Sachs] Q&A • BlackRock has clear path to $15 trillion by 2028 says mega-client

SmartAsset uses M&A to rewire RIAs • Vanguard has made its first statement on climate since it left a climate lobby group • BlackRock gets Morgan Stanley praise • CRM giant RedTail increases ties with a New York cash sifter, Flourish • Orion gets into online education.

May 9, 2023 at 2:16 AM

Larry Fink didn't not get Credit Suisse added to BlackRock's trophy case because, maybe, it didn't try.

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 AM

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