Blackrock Inc

An investment company t

Summary

BlackRock is the world’s largest asset manager guiding individuals, financial professionals and institutions in building better financial futures.

History

Over the past 30 years, BlackRock has evolved from an eight-person start up to a global company who’s trusted to manage more assets than any other investment manager.
BlackRock began in 1988 with eight people in a single room who shared a determination to put clients’ needs and interests first.

Recognizing the opportunity to bring transparency, scale and innovation to risk management for the broader industry, BlackRock begins to sell its proprietary technology, Aladdin. This technology, integral to who we are as a firm, is embedded in everything we do, thus differentiating us as an investment and risk manager.

BlackRock makes its Initial Public Offering on the New York Stock Exchange on October 1st 1999, for $14 a share. By the end of that year, the firm had $165 billion in assets under management due to its strengthening relationships with global institutions.

In 2000, BlackRock founds BlackRock Solutions, with Aladdin as the basis for the business. This marked the beginning of BlackRock’s role as a technology provider.

In 2006, BlackRock acquires Merrill Lynch Investment Management, expanding its retail and international presence.

2008
Amidst the financial crisis, the Head of the Federal Reserve Bank of New York asks BlackRock to analyze Bear Stearns’ mortgage-backed securities assets and determine their value. BlackRock plays a key advisory role to institutions across the globe seeking to navigate the financial crisis.

2009
BlackRock acquires Barclay’s Global Investors (BGI), becoming the world’s largest asset manager, with employees in 24 countries. With this acquisition, BlackRock makes the unprecedented move of bringing alpha and index strategies under one roof to provide a wider breadth of solutions for its clients.

2012
BlackRock launches iShares Core to provide investors with broad stock and bond market exposure at the foundation of their portfolios in a low-cost and tax-efficient way.

2016
Given the changing wealth management landscape, BlackRock focuses on providing portfolio construction expertise to financial advisors by leveraging our diverse platform and portfolio construction technology. Aladdin Wealth, which benefits from the same data and risk capabilities used by our own investment teams, is sold to our first wealth management client.

2017
BlackRock further increases our commitment to Investment Stewardship, emphasizing the importance of purpose to long-term profitability. Through this work and the overall dedication to Investment Stewardship over the past seven years, we go beyond proxy voting to engage with companies to drive long-term, sustainable financial performance and ultimately the value of our clients’ assets.

2018
BlackRock launches its first AI Lab in Palo Alto to accelerate its use of artificial intelligence and associated disciplines – machine learning, data science, natural language processing – to improve outcomes and drive progress for investors, clients and the firm.

2019
BlackRock further focuses its role in the retirement crisis, launching BlackRock Retirement Solutions Group. With two thirds of the assets we manage related to retirement, this new initiative was formed to explore innovative solutions to the most pressing retirement challenges.

BlackRock acquires eFront, the world’s leading provider of end-to-end alternative investment management software and solutions, to accelerate our ambition to make alternatives less alternative and enable a whole portfolio approach. The acquisition establishes a new standard for investment and risk management technology, enabling investors to seamlessly manage portfolios across public and private asset classes on a single platform.

Vision

BlackRock’s purpose is to help more and more people experience financial well-being. And as a fiduciary to our clients, we dedicate ourselves to protecting and growing the value of our clients’ assets.

Mission

Our mission is to create a better financial future for our clients.

References

https://www.blackrock.com/corporate/about-us/blackrock-history

https://www.crunchbase.com/organization/blackrock

https://www.comparably.com/companies/blackrock/mission

https://www.blackrock.com/corporate/about-us/mission-and-principles

https://en.wikipedia.org/wiki/BlackRock