(Bloomberg) -- Mark Wiedman, who oversees the world’s largest lineup of exchange-traded fundsat BlackRock Inc., cut fees and forged a partnership with Fidelity Investments to attract more individuals to his iShares ETFs.

Now he’s courting insurers, pension funds and other large clients, offering the products as a simpler substitute for derivatives and single securities at a time when Wall Street’s retreat from trading reduces liquidity. That change, Wiedman says, will transform how institutions invest.

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