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Stock impact report

BlackRock to buy asset management unit of Mexico's Citibanamex [Reuters]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
US:NYSE Investor Relations: ir.blackrock.com
Company Research Source: Reuters
BlackRock to buy asset management unit of Mexico's Citibanamex | Reuters 2 Min Read NEW YORK (Reuters) - BlackRock Inc ( BLK.N ) on Tuesday said it had agreed to buy the asset management business of Mexico’s Citibanamex, a subsidiary of Citigroup Inc ( C.N ), in a sign of the growth potential the world’s largest asset management sees in the country. Under the deal, BlackRock with nearly $6 trillion in assets under management will offer asset management products to Citibanamex clients in Mexico, the companies said in a joint statement. Through its network of 1,500 branches in Mexico, Citibanamex provides wealth management products and services to more than 20 million clients. The transaction involves approximately $31 billion in assets under management of Citibanamex, across local fixed income, equity and multi-asset products, primarily for retail clients. The transaction is part of Citi’s emphasis on expanding access to best-in-class investment products, rather than manufacturing Show less Read more
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