Business & Finance
Business and Finance
Business and Finance
Thu, March 31, 2011 BlackRock and Mizuho Sign Business Alliance Agreement
NEW YORK--([ 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 BlackRocka™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 BlackRocka™s best-in-class investment capabilities to its clients to better help them meet their investment needs. Implementation of BlackRocka™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, BlackRocka™s AUM was $3.561 trillion. BlackRock offers products that span the risk spectrum to meet clientsa™ 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 BlackRocka™s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as atrend,a apotential,a aopportunity,a apipeline,a abelieve,a acomfortable,a aexpect,a aanticipate,a acurrent,a aintention,a aestimate,a aposition,a aassume,a aoutlook,a acontinue,a aremain,a amaintain,a asustain,a aseek,a aachieve,a and similar expressions, or future or conditional verbs such as awill,a awould,a ashould,a acould,a amaya 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 BlackRocka™s Securities and Exchange Commission (aSECa) 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 BlackRocka™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 BlackRocka™s economic investments; (14)the impact of changes to tax legislation and, generally, the tax position of the Company; (15)BlackRocka™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 BlackRocka™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.
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