GLOBAL - BlackRock has finally completed the deal to buy Barclays Global Investors (BGI) and ETF provider iShares from Barclays Group, making it the largest asset manager in the world.
iShares will retain its brand while all other operations have been rebranded as BlackRock.
Laurence D. Fink, BlackRock's chairman and chief executive, said the firm will now operate as "one global firm, operating independently, focused solely on investment and risk management on behalf of our clients".
The combined company manages approximately $3.2trn (€2trn) on behalf of institutional and retail investors worldwide.
The deal was first announced in June and signed a week later after another pulled out of the race to buy iShares. (See earlier IPE story: Blackrock deal goes ahead as CVC pulls out on iShares)