Larry Fink – CEO of BlackRock – wants Aladdin to become the “language of portfolios”.
BlackRock is not only the biggest asset manager in the world with whopping $7 Trillion, yes with a T, in assets under management but also a software as a service (SAAS) provider.
Much like Amazon started building Amazon Web Services (AWS) for its own scaling challenges, BlackRock developed Aladdin for solving its own Risk Management puzzle.
Also, like Amazon started offering AWS to other smaller technology companies, BlackRock is offering Aladdin to other asset managers to help them with their Risk Management problems.
I wouldn’t be surprised, if BlackRock starts its own software arm to meet the need of smaller Financial Service firms.
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