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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

BlackRock may court wealth funds if banks exit

Posted on 17 August 2010

From Bloomberg: BlackRock Inc. may court investors such as sovereign wealth funds as Bank of America Corp. considers a sale of its 34 percent stake in the asset manager, Credit Suisse Group AG’s Craig Siegenthaler said.
New regulatory requirements in the U.S. and Europe may also prompt two other top shareholders, PNC Financial Services Group Inc. and Barclays Plc., to reduce their stakes in the world’s largest money manager, New York-based Siegenthaler said today in a note to clients……………………………………….Full Article: Source


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