BlackRock and Mizuho Sign Business Alliance Agreement
March 31 2011 - 7:00AM
Business Wire
BlackRock, Inc. (NYSE:BLK) and Mizuho Financial Group, Inc.
(NYSE:MFG) announced today that they have signed a Business
Alliance Agreement that will further promote strategic cooperation
between the two firms in Japan and Asia. The two firms had
announced their intent to sign the agreement in November 2010 in
connection with the secondary offering and direct placement of
approximately three million shares of BlackRock’s common stock with
Mizuho.
Under the terms of the agreement, representatives from the two
firms will establish steering committees that will meet regularly
and work together to address the investment needs of their
respective clients globally. The firms will put particular emphasis
on Asia including further cooperation in product development and
distribution in Japan.
As part of the agreement, Mizuho Financial Group intends to
deliver BlackRock’s best-in-class investment capabilities to its
clients to better help them meet their investment needs.
Implementation of BlackRock’s risk and investment systems, known as
Aladdin®, is under consideration by Mizuho to further strengthen
its investment management capabilities.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At December 31, 2010, BlackRock’s AUM was $3.561
trillion. BlackRock offers products that span the risk spectrum to
meet clients’ needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered
in a variety of structures including separate accounts, mutual
funds, iShares® (exchange traded funds), and other pooled
investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions®.
Headquartered in New York City, as of December 31, 2010, the firm
has approximately 9,100 employees in 25 countries and a major
presence in key global markets, including North and South America,
Europe, Asia, Australia and the Middle East and Africa. For
additional information, please visit the Company's website at
www.blackrock.com.
Forward-Looking Statements
This report, and other statements that BlackRock may make, may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified
by words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,”
“outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,”
“achieve,” and similar expressions, or future or conditional verbs
such as “will,” “would,” “should,” “could,” “may” or similar
expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
In addition to risk factors previously disclosed in BlackRock’s
Securities and Exchange Commission (“SEC”) reports and those
identified elsewhere in this report the following factors, among
others, could cause actual results to differ materially from
forward-looking statements or historical performance: (1) the
introduction, withdrawal, success and timing of business
initiatives and strategies; (2) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for products or
services or in the value of assets under management; (3) the
relative and absolute investment performance of BlackRock’s
investment products; (4) the impact of increased competition;
(5) the impact of capital improvement projects; (6) the
impact of future acquisitions or divestitures; (7) the
unfavorable resolution of legal proceedings; (8) the extent
and timing of any share repurchases; (9) the impact, extent
and timing of technological changes and the adequacy of
intellectual property protection; (10) the impact of
legislative and regulatory actions and reforms, including the
recently approved Dodd-Frank Wall Street Reform and Consumer
Protection Act, and regulatory, supervisory or enforcement actions
of government agencies relating to BlackRock, Barclays Bank PLC,
Bank of America Corporation, Merrill Lynch & Co., Inc. or
The PNC Financial Services Group, Inc.; (11) terrorist
activities, international hostilities and natural disasters, which
may adversely affect the general economy, domestic and local
financial and capital markets, specific industries or BlackRock;
(12) the ability to attract and retain highly talented
professionals; (13) fluctuations in the carrying value of
BlackRock’s economic investments; (14) the impact of changes
to tax legislation and, generally, the tax position of the Company;
(15) BlackRock’s success in maintaining the distribution of
its products; (16) the impact of BlackRock electing to provide
support to its products from time to time; (17) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions; and
(18) the ability of BlackRock to integrate the operations of
Barclays Global Investors.
BlackRock's Annual Reports on Form 10-K and BlackRock's
subsequent filings with the SEC, accessible on the SEC's website at
www.sec.gov and on BlackRock’s website at
www.blackrock.com, discuss these factors in more detail and
identify additional factors that can affect forward-looking
statements. The information contained on our website is not a part
of this press release.
©2011 BlackRock, Inc. All Rights Reserved.
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