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.

Firm “hopes to crowdsource new uses for” its pricing and analysis system; the system could be put on a device and used anywhere to cut down on fraud.

Housing and auto sales are just the first sectors to feel pain from rising rates; BlackRock may have identified its next CEO.

Jonathan Gould, the committee's chief counsel, has been hired by the Office of the Comptroller of the Currency as senior deputy comptroller and chief counsel.

The digital customer experience is getting better. Firms should take notice.

The money manager plans a big expansion in Atlanta; agency makes now rare determination that debt-collection practices were “abusive.”

Financial firms need to focus developer teams on creating products, not fixing legacy IT issues and bad code.

Analytics for retirement readiness.

Panelists: Hollie Fagan, Managing Director, BlackRock; Estee Jimerson, Managing Director – Head of Asset Manager Distribution & Engagement, Envestnet; Kunal Kapoor, CFA, Chief Executive Officer, Morningstar; Natalie Wolfsen, EVP and Chief Solutions Officer, AssetMark.

Venu Krishnamurthy is joining the asset management giant at a time when it is reorganizing itself and tinkering with product offerings to ward off fintechs and other challengers.

The bank, in conjunction with iCapital Network, is slashing requirements to participate in certain alternative investments that it once offered mainly to institutions or the ultrarich.