BlackRock Dominance Means Fight for Second in Europe’s $2 Trillion ETF Market
- No one in Europe ETFs can touch world’s largest money manager
- Amundi, Deutsche’s DWS are vying to be next biggest by assets
This article is for subscribers only.
Over 17 years, Simon Klein has helped transform the ETF division of Deutsche Bank AG into a $200 billion powerhouse across Europe. Now he’s embarking on perhaps his biggest mission yet: Battling for the number-two spot as competition heats up.
Thanks to BlackRock Inc.’s staggering dominance, issuers are left fighting for second place in Europe’s $1.9 trillion exchange-traded fund industry. Unlike in the US, where Vanguard Group is slowly closing the gap to the world’s largest asset manager, the Larry Fink-led business is almost untouchable across the Atlantic.