French fund manager Amundi has nearly finished cutting ties with rival BlackRock's Aladdin platform. The move, expected to be completed last year, will give the $1.5tn group full control over its IT services, following its acquisition of Pioneer Investments. Amundi announced early next year it planned to sever any ties Pioneer had with BlackRock's software platform, which is used by dozens of asset managers worldwide, citing "competition issues".
French fund manager Amundi has nearly finished cutting ties with rival BlackRock's Aladdin platform. The move, expected to be completed early next year, will give the $1.5tn group full control over its IT services, following its acquisition of Pioneer Investments. Amundi announced last year it planned to sever any ties Pioneer had with BlackRock's software platform, which is used by dozens of asset managers worldwide, citing "competition issues".