The chief of the world's largest asset manager thinks that the industry "needs consolidation". Yet when it comes to his own M&A plans, he seems to preclude two big areas of the world.
| Laurence D. Fink|
Chairman, Chief Executive Officer
David Randall of Reuters reports
that yesterday in New York at an investor day meeting BlackRock
] CEO Larry Fink
said that the asset management business could have "quite a bit" of M&A. As for BlackRock's own acquisition plans, Fink reportedly said that he doesn't "see a need" to buy in the U.S. or Europe. Yet, in Reuters'
words, Fink "left open the possibility of making acquisitions in other parts of the world.
BlackRock has made a number of acquisitions over the years. Big ones include State Street Research & Management
, Merrill Lynch Investment Management
, and Barclays Global Investors
(which includes iShares).
Neil Anderson, Managing Editor
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