03.08.24

BlackRock To Buy SpiderRock as Firm Expands Wealth Management

by: Silla Brush

BlackRock is acquiring SpiderRock Advisors, an asset-management and technology firm, to expand its customized investing strategies to wealthy clients, after making a minority investment in the firm in 2021. SpiderRock oversees about $4.8 billion of assets for investment advisors, family offices and other clients. SpiderRock “can provide advisors with a comprehensive suite of customization capabilities that help solve clients' unique challenges, such as income generation, downside protection and tax-efficiency through the use of options,” Eve Cout, head of portfolio design and solutions in BlackRock's US Wealth Advisory business, said.

Read the full article on Bloomberg