BlackRock completes merger with Barclays

AP News
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Posted: Dec 01, 2009 12:04 PM

Investment manager BlackRock Inc. said Tuesday that it has completed its acquisition of Barclays Global Investors, including the purchase of the iShares exchange traded funds business.

The combined firm will operate under the BlackRock name and the iShares brand will be retained, the company said.

BlackRock now manages about $3.2 trillion on behalf of institutional and retail investors worldwide.

In connection with the transaction, BlackRock also announced two new board members: John Varley, group chief executive of Barclays PLC, and Robert E. Diamond Jr., president of Barclays PLC.