MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 17, 2010 Will PNC Break Up With BlackRock, Too? Is BlackRock [see BlackRock profile here and iShares profile here] about to say goodbye to two giant banks who are shareholders? Yesterday the Wall Street Journal reported that Bank of America is mulling whether or not to sell some or all of its stake in the mutual fund firm (see The MFWire, 8/16/2010), and today TheStreet's Maria Woehr speculates that PNC, which holds a third of BlackRock's common stock, may also divest from the firm. "It would absolutely make sense for PNC to consider this," NexGen Advisors principal Carla Zilka told TheStreet. Similar to the WSJ's sources on the BofA story, CaseyQuick partner Ben Phillips told TheStreet that banks in general my need to reconsider their ownership of asset managers, thanks to new regulation. Printed from: MFWire.com/story.asp?s=33167 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |