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Thursday, September 24, 2009

BlackRock Will Stay BlackRock

News summary by MFWire's editors

When BlackRock agreed to absorb Barclays Global Investors, the asset management firm started considering whether to rebrand the company as "BlackRock Global Investors" or remain as "BlackRock". The final decision has now been made, and the combined firm will continue to operate under the name BlackRock, company spokesperson Brian Beades told the MFWire.

"The complexity of working with the operational name became apparent when outlining the brand architecture for the combined firm -- for example, BlackRock Global Investors as it relates to BlackRock Solutions or our internationally offered funds BlackRock Global Funds Range, of BGF, would lead to confusion. The master brand BlackRock allows more flexibility when working with different divisions and product groups," said Beades.

However, there has already been an increased usage in the term "BGI," in the marketplace and press, to refer to the combined firm. BlackRock feels this may cause an unintended connection to Barclays, which could compromise the intended use of BlackRock as shorthand, and "potentially result in confusion in the markets for our ticker symbol BLK," Beades remarked.

Additionally, BlackRock will continue to use the iShares brand for the Barclays Global Investors ETF offerings.

The BGI-BlackRock deal is expected to officially close at the end of this year. Yesterday saw the approval from the European Commission, and only BGI fund shareholders are yet to give the required approval. Both Barclays PLC and BlackRock boards have give the acquisition the green-light. 

Edited by: Daniel Tovrov

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