US asset manager BlackRock has obtained the regulatory approvals and commercial licences to establish its presence in Kuwait. The approvals were issued by the Kuwait Direct Investment Promotion Authority (KDIPA). The Director General of KDIPA, Sheikh Dr Meshaal Al-Jaber Al-Ahmad Al-Sabah, told news agency KUNA that Kuwait's commitment lies in "attracting value-added direct investments" and in the cultivation of “national competencies”. Media reports suggested that the establishment of BlackRock's office ...

Group 1 - Citi Wealth has selected BlackRock to manage approximately $80 billion in assets for its clients, enhancing its portfolio offerings [2][3] - The collaboration aims to combine Citi's relationship-driven advice with BlackRock's investment expertise and technology [3][4] - BlackRock will implement a variety of investment strategies, including core, opportunistic, thematic, equities, fixed income, and multi-asset class strategies [3] Group 2 - Citi has adopted BlackRock's Aladdin Wealth technology platform to support its private bankers and investment professionals with advanced risk and portfolio management capabilities [4] - The announcement coincided with Merrill and Bank of America's launch of a private market program targeting ultra-high-net-worth clients [5] - Recent research indicates a shift among higher-income Americans towards reactive financial management, with 52% of individuals earning $100,000 or more now identifying as "reactors" [6][7]