BlackRock Completes Acquisition of SpiderRock Advisors
Summary
NEW YORK & CHICAGO--(BUSINESS WIRE)--BlackRock (NYSE: BLK) today announced the completion of its acquisition of SpiderRock Advisors, LLC, a leading provider of option overlay-based strategies for separately managed accounts (SMAs). With SpiderRocks advanced option overlay capabilities and derivatives expertise, we are positioned to deliver even greater value to our clients, helping them towards achieving better after-tax performance and personalization,” said Eve Cout, Head of the Portfolio Design & Solutions pillar within BlackRock’s U.S. “We are excited to partner with BlackRock and broaden access to innovative option management solutions,” said Eric Metz, President and Chief Investment Officer of SpiderRock Advisors. “Together, we aim to empower more advisors in delivering tailored option overlay strategies to their clients.” BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.