BlackRock in Atlanta expansion, Lazard could sell asset management unit

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BlackRock is expanding in Atlanta.

Bloomberg News reports that the world’s largest asset manager plans to employ 1,000 people in the city by 2024.

Its growth in Atlanta will be geared toward technology, with access to top universities including the Georgia Institute of Technology, according to an internal memo sent by Chief Operating Officer Rob Goldstein and viewed by Bloomberg News. The firm currently has 15 employees in the city and about 14,000 globally.

In the meantime, Bloomberg also reports that Lazard Ltd. Chief Executive Officer Ken Jacobs said that while he wants to hold on to the company’s $240 billion asset-management division, he’d consider a sale if the price were right.

Jacobs said there are many similarities between Lazard Asset Management and OppenheimerFunds, a unit of Massachusetts Mutual Life Insurance Co. that’s being sold to Invesco Ltd. for about $5.7 billion. Lazard’s money-management business could attract bidders as well, he said.

BlackRock Plots Atlanta Expansion of 1,000 Employees in New Hub

Lazard Would Consider Bids for Asset Manager at Right Price



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