BlackRock Completes Acquisition of SpiderRock Advisors
01 Maggio 2024 - 2:29PM
Business Wire
BlackRock (NYSE: BLK) today announced the completion of its
acquisition of SpiderRock Advisors, LLC, a leading provider of
option overlay-based strategies for separately managed accounts
(SMAs). The acquisition strengthens BlackRock’s ability to deliver
a robust platform of SMA solutions and customization capabilities
to financial advisors and clients.
SpiderRock Advisors will be integrated into BlackRock’s U.S.
Wealth Advisory business, which manages $186 billion in U.S. Wealth
SMAs as of December 2023.
“This strategic move expands on our commitment to meeting the
evolving needs of wealth managers and their clients,” said Joe
DeVico, Co-Head of BlackRock’s U.S. Wealth Advisory business. “We
are excited to finalize the acquisition of SpiderRock Advisors,
further solidifying BlackRock’s leadership in SMA solutions.”
“SpiderRock complements BlackRock’s existing SMA product
portfolio and the completion of this acquisition further enhances
our ability to provide wealth managers with an extensive array of
customization capabilities. With SpiderRock's advanced option
overlay capabilities and derivatives expertise, we are positioned
to deliver even greater value to our clients, helping them towards
achieving better after-tax performance and personalization,” said
Eve Cout, Head of the Portfolio Design & Solutions pillar
within BlackRock’s U.S. Wealth Advisory business.
“We are excited to partner with BlackRock and broaden access to
innovative option management solutions,” said Eric Metz, President
and Chief Investment Officer of SpiderRock Advisors. “Together, we
aim to empower more advisors in delivering tailored option overlay
strategies to their clients.”
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate.
About SpiderRock Advisors
SpiderRock Advisors, LLC is a Chicago-based asset management
firm focused on providing customized option overlay strategies to
investors. Combining technology with comprehensive derivative
management expertise, SpiderRock Advisors is making it easy for
financial advisors and institutions to add option overlay
strategies to their portfolios. SpiderRock Advisors manages
approximately $4.8 billion as of February 2024 for firms in the
RIAs, family office, national broker/dealers and institutional
channels.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430908841/en/
BlackRock Christa Zipf Phone: 646-231-0013 Email:
christa.zipf@blackrock.com
SpiderRock Advisors Ray Hennessy, Vocatus LLC Phone:
973-527-1797 Email: rh@vocatusllc.com
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