BlackRock this week finalized its buy of Credit Suisse's exchange traded funds business, in a move that makes BlackRock's iShares platform the largest in the region. The combined firm will operate under the iShares name and all 58 of Credit Suisse's ETFs will be re-branded as iShares ETFs on the exchanges where they are listed.
iShares now manages some $8.1 billion across equities, fixed income and gold ETFs in Switzerland at the end of May.
"Switzerland is an important market for us,” stated David Blumer, Head of Europe, Middle East and Africa for BlackRock. “We believe that more investors will have an interest in owning financial products denominated in Swiss francs and we want to serve them. This acquisition is just one sign of BlackRock's commitment to Switzerland and it deepens and expands our presence in this market."