Attached files
| file | filename |
|---|---|
| EX-3.1 - EXHIBIT 3.1 - BlackRock Inc. | blackrock_ex3-1.htm |
| EX-2.1 - EXHIBIT 2.1 - BlackRock Inc. | blackrock_ex2-1.htm |
| EX-10.3 - EXHIBIT 10.3 - BlackRock Inc. | blackrock_ex10-3.htm |
| EX-10.1 - EXHIBIT 10.1 - BlackRock Inc. | blackrock_ex10-1.htm |
| EX-10.2 - EXHIBIT 10.2 - BlackRock Inc. | blackrock_ex10-2.htm |
| 8-K - FORM 8-K - BlackRock Inc. | blackrock-8k.htm |
Exhibit
99.1
News
Release
Contact:
|
Media
Relations
|
|
Media/Investor
Relations
|
|
Bobbie
Collins
|
Brian
Beades
|
|
|
212-810-8155
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212-810-5596
|
|
|
Bobbie.Collins@blackrock.com
|
invrel@blackrock.com
|
BLACKROCK
COMPLETES MERGER WITH BARCLAYS GLOBAL INVESTORS
Includes
the Market-Leading iShares Exchange Traded Funds Business
$3.2
Trillion Managed for Institutional and Retail Clients Globally
Adds
Varley and Diamond to Board of Directors
New
York, December 1, 2009 – BlackRock, Inc. (NYSE:BLK)
today announced that it has completed its merger with Barclays Global Investors
(“BGI”), including the market-leading iShares®
exchange traded funds business. The combined firm will operate under the
BlackRock name and the iShares brand will be retained.
“Since this
transaction was announced in early June, BlackRock and BGI employees have
demonstrated their commitment to serving clients and delivering competitive
investment results. Both firms maintained strong core business momentum while
achieving the close of an unprecedented merger in less than six months,
commented Laurence D. Fink, BlackRock’s Chairman and Chief Executive
Officer.
“Beginning
today, we move forward as one global firm, operating independently, focused
solely on investment and risk management on behalf of our clients. We manage
approximately $3.2 trillion on behalf of institutional and retail investors
worldwide. We offer truly differentiated capabilities – active,
enhanced and index products – and the most talented professionals, able to
identify investment opportunities, develop innovative investment solutions, and
capture the benefits of scale for clients.”
Additions
to Board of Directors
In
connection with the closing of the merger, BlackRock also announced that John
Varley, Group Chief Executive of Barclays PLC, and Robert E. Diamond Jr.,
President of Barclays PLC, have joined the BlackRock Board of
Directors.
Brief
biographical information on Mr. Varley and Mr. Diamond is provided below, and
additional information on the full Board can be found on the “Investor
Relations” section of BlackRock’s website.
John
Varley. Mr. Varley is Group Chief Executive of Barclays PLC.
Prior to being named to his current position in September 2004, he had served as
Group Deputy Chief Executive beginning in January 2004. He held the
position of Group Finance Director from 2000 until the end of 2003. Mr. Varley
joined the Executive Committee in September 1996 and was appointed to the
Barclays' Board in June 1998. He was Chief Executive of Retail Financial
Services from 1998 to 2000 and Chairman of the Asset Management Division from
1995 to 1998. Mr. Varley also serves as a non-executive director of AstraZeneca
PLC.
News
Release
Robert
E. Diamond Jr. Mr. Diamond is President of Barclays PLC and Chief
Executive Officer of Corporate and Investment Banking and Wealth Management,
comprising Barclays Capital, Barclays Corporate and Barclays Wealth. He is an
Executive Director of the Boards of Barclays PLC and Barclays Bank PLC and has
been a member of the Barclays Group Executive Committee since September 1997. He
joined the firm in summer 1996. Mr. Diamond is a member of the Board of
Directors for the Institute of International Finance and member of the
International Advisory Board of the British-American Business
Council.
About
BlackRock
BlackRock is a leader in
investment management, risk management and advisory services for institutional
and retail clients worldwide. With approximately $3.2 trillion under
management as of September 30, 2009 (pro forma), BlackRock offers products that
span the risk spectrum to meet clients’ needs, including active, enhanced and
index strategies across markets and asset classes. Products are
offered in a variety of structures including separate accounts, mutual funds,
iShares (exchange-traded funds), and other pooled investment vehicles. BlackRock
also offers risk management, advisory and enterprise investment system services
to a broad base of institutional investors through BlackRock Solutions®.
Headquartered in New York City, the firm has over 8,500 employees in 24
countries. For additional information, please visit BlackRock’s website at
www.blackrock.com.
Forward-Looking
Statements
This
press release, and other statements that BlackRock may make, may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act, with respect to BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,” “potential,”
“opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or
future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or
similar expressions.
BlackRock
cautions that forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. Forward-looking
statements speak only as of the date they are made, and BlackRock assumes no
duty to and does not undertake to update forward-looking
statements. Actual results could differ materially from those
anticipated in forward-looking statements and future results could differ
materially from historical performance.
In
addition to risk factors previously disclosed in BlackRock’s Securities and
Exchange Commission (“SEC”) reports and those identified elsewhere in this
report the following factors, among others, could cause actual results to differ
materially from forward-looking statements or historical performance: (1) the
introduction, withdrawal, success and timing of business initiatives and
strategies; (2) changes and volatility in political, economic or industry
conditions, the interest rate environment or financial and capital markets,
which could result in changes in demand for products or services or in the value
of assets under management; (3) the relative and absolute investment performance
of BlackRock’s investment products; (4) the impact of increased competition; (5)
the impact of capital improvement projects; (6) the impact of future
acquisitions or divestitures; (7) the unfavorable resolution of legal
proceedings; (8) the extent and timing of any share repurchases; (9) the impact,
extent and timing of technological changes and the adequacy of intellectual
property protection; (10) the impact of legislative and regulatory actions and
reforms and regulatory, supervisory or
News
Release
enforcement
actions of government agencies relating to BlackRock, Barclays PLC, Bank of
America Corporation, Merrill Lynch & Co., Inc. or The PNC Financial Services
Group, Inc.; (11) terrorist activities and international hostilities, which may
adversely affect the general economy, domestic and local financial and capital
markets, specific industries or BlackRock; (12) the ability to attract and
retain highly talented professionals; (13) fluctuations in the carrying value of
BlackRock’s investments; (14) fluctuations in foreign currency exchange rates,
which may adversely affect the value of investment advisory and administration
fees earned by BlackRock or the carrying value of certain assets and liabilities
denominated in foreign currencies; (15) the impact of changes to tax legislation
and, generally, the tax position of the Company; (16) BlackRock’s success in
maintaining the distribution of its products; (17) the impact of BlackRock
electing to provide support to its products from time to time; (18) the impact
of problems at other financial institutions or the failure or negative
performance of products at other financial institutions; and (19) the ability of
BlackRock to integrate the operations of Barclays Global Investors.
BlackRock's
Annual Reports on Form 10-K and BlackRock's subsequent filings with the SEC,
accessible on the SEC's website at http://www.sec.gov and on BlackRock’s
website at http://www.blackrock.com,
discuss these factors in more detail and identify additional factors that can
affect forward-looking statements. The information contained on our website is
not a part of this press release.
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