BlackRock reveals aim to become one of China's top asset managers

Focused on building onshore presence

Chief executive Larry Fink has said BlackRock is set on becoming "one of the country's leading global asset managers" in his annual letter to shareholders.

Fink said the firm has identified China as one of its largest areas of future growth and is "focused on building an onshore presence". "Asia is expected to drive 50% of the organic AUM growth in the asset management industry over the next five years, largely driven by China, where there is increasing demand for more diversified and long-term investment solutions," Fink said. BlackRock appoints head of UK to help clients navigate market 'disruption' "By furthering or establishing our leadership in areas of high growth, leveraging our investment and technology platform to construct b...