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Instal the new for apple Aladdin11/14/2023 ![]() Others, however, see BlackRock in the lead. ![]() “On a global basis we’re relatively neck and neck in terms of the race to win this market.” “If you look at us versus some of the other large providers in the industry, based on our research we’re all roughly the same size,” he says. The European firm is now targeting growth in the North American market, where it sees its Dimension platform and BlackRock’s Aladdin as “the only game in town,” according to James Corrigan, managing director of SimCorp North America. But a key factor is the continued growth of the Aladdin business.īlackRock’s competitors aren’t going down without a fight.Ĭharles River, for its part, has joined forces with State Street to create what the two firms are describing as the “first-ever global, front-to-back, client servicing platform from a single provider.” Others, like Copenhagen-based SimCorp, are countering BlackRock’s efforts with aggressive expansions of their own. It is an ambitious vision that encompasses a number of tech initiatives, among them an artificial intelligence lab and a series of fintech acquisitions. The world’s largest asset manager has, over the past few years, placed a huge emphasis on technology - CEO Larry Fink is aiming to have 30 percent of the firm’s revenue derived from tech by 2022. BlackRock says Aladdin technology has been adopted in some form by 210 institutional clients globally, including asset owners such as CalSTRS and even direct competitors like Vanguard.Īnd BlackRock has no intention of stopping here. Today the Aladdin platform supports more than $18 trillion, making it one of the largest portfolio operating systems in the industry.
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