MM120: J.P. Morgan, Citi, Wells Fargo & BlackRock earnings explained!
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BlackRock's Aladdin Risk Management System Is Leading to Client Consolidation
The Aladdin Risk Management System revenues and from other technology services, that was up 8%. While net overall, their revenues down 1%, that part of their business is up 8%. So that clocked in at 359 million now, which is starting to get pretty interesting. The 25 largest clients had given BlackRock a larger share of their spending over the last five years on these kind of tech, you know, risk management type products.
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