Blackrock and Barclays Team Up in Wealth Management

Sandra: So BlackRock is funding the $13.5 billion deal in cash and stock, cash $6.6 billion, the rest in stock… But of course, the big thing here is Barclays is trying to dispel all of this suspicion that they are not well-capitalized. The head of Barclays today saying that we are well-capitalized and this, obviously, helps boost our position rights now. So a little about the deal. Cash and stock deal. Barclays takes a 19.9% stake and two seats, Barclays takes two seats on the board of the new combined enlarged group. It will be called BlackRock Global Investors, and joining the board of the new company, Barclays CEO who says he believes the deal makes Barclays the best capitalized bank in the world and then of course, Bob Diamond, Barclays’ president will join the board as well. Barclays stock today has been trading lower, when you watch the reaction in the stock price, remember, that this stock has gained 93%, so far this year, it’s been rallying...

Inside Futures: Blackrock and Barclays Team Up in Wealth Management