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Viewsroom

Viewsroom: Cashing out of BlackRock

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 14 May 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

Boss Larry Fink has lost his biggest shareholder, and former owner as U.S. bank PNC sells its 22% stake in the world’s largest money manager. But the exit could be beneficial for both firms. Plus: Sweden’s Covid-19 plan will be hard to replicate. And: online dating in a pandemic. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hear that? It's your big McDonald's hunger calling, because the Big Arch is back, and this time it's here to stay with juicy beef, cheddar cheese and that Big Arch sauce.

0:09.9

Hungry, you are now.

0:11.6

Order delivery on the McDonald's app.

0:15.0

Serve from 11am, upcharges and fees apply to delivery orders.

0:17.9

Subjects availability, price and participation may vary.

0:19.9

The views expressed on this podcast are those of the participants, not of Roiders' News.

0:30.3

Welcome to the views, a weekly podcast brought to you by Reuters breaking views.

0:36.0

I'm Anna Schmanzky.

0:40.2

This week, we're going to talk about the exit of Black Rock's largest shareholder, Sweden's reopening, and the future of online dating.

0:48.1

So I have Anthony Curry here. Now, Anthony, there was some big news this week about the massive asset

0:53.9

manager, BlackRock. What

0:55.4

happened? Yeah, that's right. Thanks, Anna. Great to be back on. So it wasn't so much about what BlackRock's

1:01.7

doing, although it is doing something as part of this, but it's what its longest ever shareholder,

1:06.1

and in fact, what used to be its entire owner is doing. And that's PNC Financial Services.

1:11.7

For those listeners not in the know about US regional banks,

1:14.8

and there's no reason why people would have to be.

1:17.7

PNC Financial Services is a top 10 US bank by assets

1:21.0

with that $412 billion.

1:22.7

It's based in Pittsburgh, Pennsylvania,

1:25.8

and it's run by someone Bill Demchek, who a very long time ago was

1:29.8

a JPM Morgan executive.

1:31.4

I think he left back in 2001, kind of guessing that.

...

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