It’s official: The merger between BlackRock Inc. and Barclays Global Investors was completed as of Dec. 1.
The new company is operating under the BlackRock name, but the iShares brand—BGI’s exchange-traded funds business—will be retained.
BlackRock has some $3.2 trillion in assets under management and it holds the title of the world’s largest institutional money management firm. The mega-merger was announced back in June and it came with a price tag of some $13.5 billion.
BlackRock’s board of directors is absorbing Barclays PLC’s Chief Executive John Varley and President Robert Diamond Jr.
Following the acquisition, BlackRock will continue to serve as the marketing agent for the iPath family of exchange-traded notes, which are offered by Barclays Capital.
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