Standard Chartered has joined forces with BlackRock to deliver integrated front-to-back office investment management solutions to mutual clients through the latter’s Aladdin platform.
The partnership will serve the two companies’ customers across Asia, Africa, and the Middle East.
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The British banking group is now part of BlackRock’s Aladdin Provider Network. This is said to offer additional value for asset managers and asset owners by offering to real-time data and streamlined operational workflows across the investment management lifecycle.
The bank further stated that the tie-up boosts efficiencies and manages operational risks and costs.
Standard Chartered said that the alliance marks the first time for some of its clients that an integrated end-to-end solution is present in several of the emerging and frontier markets across its footprint.
BlackRock Solutions Asia-Pacific head Akiyoshi Takeuchi said: “We place tremendous value on Standard Chartered’s adoption of Aladdin Provider Network. It symbolises a strong partnership based on our shared commitment to helping clients.”
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By GlobalDataStandard Chartered Financing & Securities Services co-head Margaret Harwood-Jones said: “This collaboration strengthens Standard Chartered’s deep roots throughout rapidly developing markets across our footprint, by expanding the range of solutions we can deliver through a single, unified investment management platform.
“We look forward to further enhancing the sophistication of the data conversation between BlackRock and Standard Chartered for the benefit of our clients.”
In recent times, several financial firms have adopted BlackRock’s Aladdin platform, which integrates risk analytics with portfolio management, trading, operations and accounting tools on one platform.
Last December, HSBC entered into an agreement to provide access to its securities services products through BlackRock’s Aladdin platform.
In May 2020, Northern Trust partnered with BlackRock to offer enhanced operations, data, and servicing capabilities to mutual clients.
Earlier in 2020, BNP Paribas Securities Services teamed up with BlackRock Solutions to bring an integrated end-to-end investment management solution to mutual customers.
