The agreement will extend the investment capabilities of the Quintet Group, including Brown Shipley, with added BlackRock tools.
Under the terms of the agreement, BlackRock will provide Quintet with access to investment tools, products, and solutions.
Furthermore, Brown Shipley in the UK will draw upon a range of new funds launched exclusively for its clients.
In addition, it will have access to Aladdin, BlackRock’s risk-management technology platform.
BlackRock will also provide advice on Quintet’s asset-allocation strategy, reflecting the investment objectives designed by the firm to meet the needs of its clients, including in the UK.
BlackRock and Quintet reaction
“We are delighted to announce our intent to partner with BlackRock,” said Chris Allen, Quintet Group CEO. “We selected BlackRock because of the depth and quality of their investment expertise, the scale of their investment reach and the strength of their risk-management platform. All of that will facilitate the work of our investment specialists, complementing and enhancing our client proposition.
“Our decision to partner with BlackRock will support our ability to remain on the front foot of product and portfolio innovation. That, in turn, will help us serve our clients even better – with increased reach, efficiency and flexibility – as we continually strive to deliver robust client outcomes.”
Allen added: “As today’s announcement demonstrates, we are focused on strengthening the foundation of our group to support sustained growth. That includes through our broader strategy refresh – a series of measures we will continue to implement consistently over the course of this year and 2024 – designed to create additional economies of scale, reduce organisational complexity and further enhance collaboration in service to our clients.
“Extending our investment capabilities, with BlackRock’s expertise, will prove a key driver of our journey to sustained profitability and long-term growth, as we seek to become an even more efficient firm, where client interests are at the heart of everything we do.”
Stephen Cohen, head of Europe, Middle East and Africa at BlackRock, continued: “We are delighted to have been selected by the Quintet Group to strengthen their investment capabilities on this next stage of their growth strategy. Forward-looking clients such as Quintet are increasingly using BlackRock as a platform to support their investment management and financial technology needs. We look forward to delivering our investment solutions, risk-management technology and research capabilities to complement and enhance the existing Quintet proposition to meet the evolving long-term financial needs of their clients.”