View more on these topics

BlackRock to acquire £11bn Credit Suisse ETF business

BlackRock has agreed to acquire the exchange traded fund business of Credit Suisse.

The deal, which is set to complete in the second quarter of 2013, will see BlackRock’s assets under management rise to almost £100bn across 264 funds in the iShares EMEA range.

BlackRock has not disclosed the amount it has paid for the Credit Suisse business, which has around £11bn of assets across 58 funds. The Credit Suisse offering includes a £5.4bn range of nine funds domiciled in Switzerland, along with funds domiciled in Luxembourg and Dublin.

The agreement expands on BlackRock’s presence in the Swiss market and represents the firm’s second acquisition in the country in the last 12 months following the purchase of Swiss Re Private Equity Partners in 2012.

BlackRock chairman and chief executive Laurence D. Fink says: “The acquisition we are announcing today represents BlackRock’s continued commitment to the Swiss market and underpins the importance we place on meeting the needs of our clients. This transaction keeps with BlackRock’s growth strategy in the region and provides the necessary scale and presence in the market to further enhance our product suite and deliver client solutions in Switzerland and all of Europe.”

Credit Suisse head of distribution for core investments Martin Keller says: “In BlackRock we have found a buyer who is a leader in the ETF industry with a successful track record and well established products.

“Credit Suisse will remain a large investor of ETFs through our Private Banking and Wealth Management division and will partner closely with BlackRock to broaden the ETF product offering for our clients. We believe that BlackRock is well positioned to realise the long-term value of our ETF business.”


Paul Kennedy: The Test-Achats effect on discounted gift trusts

Discounted gift trusts portray a blend of English trust law, tax law, actuarial science, a tad of make-believe and now a dollop of European law looks set to be added. In the ‘Test-Achats’ judgment, the European court ruled that from 21 December 2012, the ‘unisex rule’ contained in Article 5(1) of Council Directive 2004/113/EC must […]


Former Bestinvest investment director escapes jail over indecent child images

Former Bestinvest investment director Nigel Parsons has been handed a three-year supervision order and must complete 120 hours on a sex offenders programme after pleading guilty to 14 charges, including voyeurism and the possession of 51 indecent images of children under the age of 10. Parsons has also been handed a three-month curfew, during which […]

Investec poaches Argonaut distribution chief

Investec Asset Management has hired Argonaut head of distribution John Lester as a sales manager within its client group. Investec says Lester will be part of the team responsible for developing the asset manager’s key strategic relationships following the implementation of RDR. Lester joins the firm after only six months at Argonaut. Prior to joining […]


Providers sign up to new pension charges disclosure standards

Fourteen of the UK’s biggest pension providers have signed up to a series of charges disclosure standards set out by the Association of British Insurers. Under the terms of the agreement, insurers will be required to: disclose total charges to employees at the outset, to a standard definition, across contract and trust-based workplace schemes, including […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm