Northern Trust and BlackRock Form Strategic Alliance on Data and Aladdin
Posted on 06/02/2020
At the end of May 2020, Northern Trust Corporation entered into a strategic alliance with BlackRock. This alliance entails working with BlackRock on its platform called Aladdin with mutual clients. The alliance connects Northern Trust’s fund accounting, fund administration, asset servicing, and middle office capabilities to BlackRock’s Aladdin platform, creating greater connectivity between asset manager and asset servicer.
State Street Corporation acquired Charles River Development, a popular portfolio management system, in a bid to compete with BlackRock. In 2019, State Street formed a strategic partnership with Axioma, which enables Charles River clients to have access to Axioma’s risk and portfolio analytics service.