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Last $368.68 USD
Change Today +3.65 / 1.00%
Volume 352.5K
BLK On Other Exchanges
As of 8:04 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

blackrock inc (BLK) Key Developments

BlackRock Is Reported To Buy Stake In DSP Blackrock Mutual Fund

BlackRock, Inc. (NYSE:BLK) has offered to buy out its Joint Venture partner Hemendra Kothari's stake in the Indian mutual fund business, said a person familiar with the development. BlackRock wants to acquire veteran investment banker Kothari's 60% equity holding in DSP BlackRock Investment Managers Pvt. Ltd. (DSP BlackRock Mutual Fund). BlackRock is keen on spearheading the growth of its Indian asset management business, said the person in the know. "BlackRock wants to look at different ways to grow the business which has not shown a significant rise in assets under management (AUM)," he said. In response to an Economic Times query on the matter, a BlackRock spokesperson said, "We don't comment on market speculation. We are excited about the potential of the Indian market and we work closely with our JV partner DSP BlackRock to deliver our growth strategy in India." Since negotiations between BlackRock and Kothari are still in early stages, the size of the possible deal could not be ascertained. If the deal goes through, DSP BlackRock could be valued at about 5%-6% of its assets under management, which is higher than the recent deals in the industry, said two officials with rival mutual funds. Hemendra Kothari did not comment on the matter, ET reported.

BlackRock, Inc. Presents at 9th Annual Nomura Global Quantitative Investment Strategies Conference, May-12-2015 02:00 PM

BlackRock, Inc. Presents at 9th Annual Nomura Global Quantitative Investment Strategies Conference, May-12-2015 02:00 PM. Venue: Nomura, Worldwide Plaza ­ 28th Floor, 309 West 49th Street (entrance on 49th), New York, NY 10019, United States. Speakers: Antti Petajisto, Portfolio Manager, Scientific Active Equities.

Blackrock Announces Executive Changes

BlackRock announced that Simona Paravani-Mellinghoff has joined the company to take over the EMEA fiduciary management business. She replaces Richard Urwin after the investment veteran announced his retirement from the company. Paravani-Mellinghoff joins from HSBC, where she worked for 10 years in CIO and investment strategy roles. Urwin, who was with BlackRock for nine years, is set to take some time away from the investment industry and look for a new challenge.

BlackRock, Inc. Presents at UBS Financial Services Conference, May-13-2015 08:45 AM

BlackRock, Inc. Presents at UBS Financial Services Conference, May-13-2015 08:45 AM. Venue: Grand Hyatt New York, 109 East 42nd Street, New York, New York, United States. Speakers: Robert Steven Kapito, President, Director, Chairman of The Global Operating Committee and Chairman of Executive Committee, Tom Wojcik, Managing Director and Head of Investor Relations & Corporate Development.

BlackRock Announces Management Changes

BlackRock has appointed Yoshiyuki Izawa as its new chairman, representative director and country head of Japan. Izawa will replace Masato Degawa, who retired from his role as BlackRock president and country head of Japan. He will report to BlackRock Asia Pacific chairman Ryan Stork. Izawa will manage development and execution of the firm's long-term onshore business strategy across its Japan operations as well as will help ensure premier Japan investment opportunities are delivered to BlackRock's clients worldwide. Izawa most recently served as president and CEO of Japan Post Bank from 2009 to March 2015. Before that, he held multiple senior roles at Mitsui & Co, including representative director and member of the board, senior executive managing officer, as well as chairman of the investment committee.


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Price/Earnings 18.7x
Price/Sales 5.5x
Price/Book 2.2x
Price/Cash Flow 17.3x
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