HSBC has signed a deal to offer BlackRock's Aladdin investment management s...
LONDON - HSBC has signed a deal to offer BlackRock’s Aladdin investment management software to the bank’s wealthy customers, in a boost to the U.S. asset manager’s plans to squeeze money from technology by selling it to rivals.
Robert Goldstein, chief operating officer at BlackRock, said HSBC’s scale would mean many more advisers would have access to capabilities previously only available to institutional investors. That will help HSBC to respond to growing demand from wealthy customers for their banks to offer advice rather than simply selling products.
More than 200 institutions and around 25,000 investment professionals use Aladdin and its risk analytics, BlackRock says.
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