BlackRock

The largest asset manager globally announced Tuesday it will enter a new master custody service agreement with Anchorage Digital, the only U.S. federally chartered digital asset bank.

Texas and nine other Republican-led states are ratcheting up pressure on Wall Street's diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI.

Cohen manages $6.6 trillion in assets, and her team of more than 380 professionals advises more than 120 million investors in 67 countries.

The departures are occurring during a period of heightened U.S. political backlash against the environmental, social and governance investing strategy. Republican officials across the country have launched investigations into banks and asset managers, introduced anti-ESG laws and pulled funds from firms such as BlackRock, which championed sustainable investing.

Putting the pressure on employees to return to the office could cost financial companies their leadership.

BlackRock and other major financial institutions are working on plans to accelerate the closure of coal-fired power plants in Asia in a bid to phase out the use of the worst man-made contributors to climate change.

Stephanie Epstein, Managing Director, Global Head of Models Infrastructure at BlackRock talked with Gemma Postlethwaite, CEO of Arizent in the early days of the Covid-19 crisis about purpose-led workforce management and how the crisis may have lessons for leadership in supporting the needs of diverse teams.

Flush with capital from the sale of its stake in BlackRock, PNC is willing to go big on an acquisition but would be wary of buying a bank with a heavy concentration of consumer loans, CEO William Demchak said.

The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.

The Pittsburgh company has owned a 22% position in the money manager since 1995.