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Blackrock completes merger with Barclays Global Investors

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BlackRock has completed its merger with Barclays Global Investors, including the iShares exchange-traded funds business.

The combined firm will operate under the BlackRock name and the iShares brand will be retained.
 
“Since this transaction was announced in early June, BlackRock and BGI employees have demonstrated their commitment to serving clients and delivering competitive investment results. Both firms maintained strong core business momentum while achieving the close of an unprecedented merger in less than six months,” says Laurence D. Fink, BlackRock’s chairman and chief executive officer.  
 
“Beginning today, we move forward as one global firm, operating independently, focused solely on investment and risk management on behalf of our clients. We manage approximately USD3.2trn on behalf of institutional and retail investors worldwide. We offer truly differentiated capabilities – active, enhanced and index products – and the most talented professionals, able to identify investment opportunities, develop innovative investment solutions, and capture the benefits of scale for clients.”
 
In connection with the closing of the merger, BlackRock has added John Varley, group chief executive of Barclays Plc, and Robert E. Diamond Jr., president of Barclays Plc, to its board of directors.

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