BlackRock
BlackRock, Inc. is an American multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of December 31, 2023. Headquartered at 50 Hudson Yards in Midtown Manhattan, New York City, BlackRock has 78 offices in 38 countries, and clients in 100 countries. BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers. Its Aladdin software keeps track of investment portfolios for many major financial institutions and its BlackRock Solutions division provides financial risk management services. As of 2023, BlackRock was ranked 229th on the Fortune 500 list of the largest United States corporations by revenue.
Some of the key events about BlackRock
- 1988Founded as a risk management and fixed income institutional asset manager
- 1988Faced criticism for aggressive trading strategies in mortgage-backed securities during savings and loan crisis
- 1999Launched its first retail mutual funds
- 2000Acquired State Street Research & Management, expanding its mutual fund business
- 2006Merged with Merrill Lynch Investment Managers, significantly expanding its global presence
- 2008Acquired Barclays Global Investors, raising concerns about market concentration
- 2009Acquired Barclays Global Investors, becoming the world's largest asset manager
- 2009Received controversy for managing toxic assets from Bear Stearns and AIG bailouts
- 2012Launched the iShares Core series, offering low-cost ETFs to retail investors
- 2012Fined $340,000 by the SEC for improperly disclosing conflicts of interest
- 2014Criticized for potential conflicts of interest in its stock analyses and corporate governance research
- 2015Acquired FutureAdvisor, entering the digital wealth management space
- 2015Fined $12 million by the SEC for failing to disclose a conflict of interest
- 2017Launched the Aladdin Risk for Wealth Management platform, extending its risk management technology to financial advisors
- 2017Faced scrutiny for its dual role as both shareholder and advisor to companies
- 2018Criticized for inadequate oversight of gun manufacturers in its index funds
- 2019Investigated by Congress for potential anticompetitive behavior in the ETF market
- 2020Committed to make sustainability its new standard for investing
- 2020Faced backlash for inconsistencies between climate change rhetoric and fossil fuel investments
- 2021Launched the BlackRock Impact Opportunities Fund to support businesses and projects owned by underrepresented groups
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
