Under the terms of the agreement, representatives from the two firms will establish steering committees that will meet regularly and work together to address the investment needs of their respective clients globally.
The firms will put particular emphasis on Asia including further cooperation in product development and distribution in Japan.
As part of the agreement, Mizuho Financial Group intends to deliver BlackRock’s best-in-class investment capabilities to its clients.
Implementation of BlackRock’s risk and investment systems, known as Aladdin, is under consideration by Mizuho to further strengthen its investment management capabilities.
The two firms had announced their intent to sign the agreement in November 2010 in connection with the secondary offering and direct placement of approximately three million shares of BlackRock’s common stock with Mizuho.
