BlackRock (BLK) is seeking to expand its retail-focused products, including exchange-traded funds in Europe, as part of a strategy to attract a new generation of investors, Chief Product Officer Stephen Cohen told Reuters in an interview.
BlackRock's iShares unit currently holds a 43% share of the European ETF market, according to Morningstar data. Last month, Reuters reported that BlackRock is preparing to launch a bitcoin ETF in Europe, following strong US demand.
The asset manager plans to introduce more bond and actively managed ETFs, and targeted indices, Cohen said. Additionally, BlackRock aims to expand partnerships with local banks, particularly in underpenetrated markets like Eastern Europe.
BlackRock is targeting 19 million European investors within three years, up from 9 million currently, Cohen added.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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