BlackRock Bets on Technology
BlackRock has been pushing hard to broaden its technological capabilities, and the world’s largest investment manager plans to keep at it to maintain and expand its competitive advantage.
In a recent interview with Business Insider, BlackRock Chief Operating Officer Rob Goldstein said data is a key focus.
Goldstein told BI: “When you look at one of the major changes, it is this combination of the data that’s now available, the technologies that are available to analyze the data, and access to computing power at the price points that you can access computing power and put them together, the opportunities that creates to identify themes, trends, market paradigms is just — it’s limitless.”
“My sales pitch is very simple: BlackRock is a growth company,” Goldstein contnued. “BlackRock is a growth technology company and we’re growing our technology functions. We have a very ambitious plan that we call “Tech 2020.” And as part of that, we are looking to extend the 2,000-plus technologists we already have within BlackRock. And we’re really excited about the opportunity to take a company like BlackRock, which is already, I’d say, at the forefront of technology in its industry, and, if anything, keep expanding that.”
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With Ankit Mittal, Business Change Manager, Global Trading, Schroders