Santander's Asset Management Business Adopts BlackRock Technology
March 11 2019 - 6:53AM
Dow Jones News
By Cristina Roca
Banco Santander SA (SAN.MC) said Monday that its
asset-management business has reached an agreement with BlackRock
Inc. (BLK) to adopt its Aladdin platform.
Santander Asset Management will adopt the platform in all ten
markets where it operates by the end of 2020, the bank said.
"With the adoption of the Aladdin platform, SAM expects to
reduce reaction time to changes in market conditions and the
regulatory environment, helping to improve fund performance and
product innovation," the bank said. The move is part of the
business' technological transformation drive, Santander said.
No financial details were disclosed.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
March 11, 2019 07:38 ET (11:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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