BlackRock Financial Markets Advisory, an arm of the world's largest passive investment manager, has seen off competition from eight rival bids for a consultancy role advising the European Commission (EC) on ESG best-practice for the EU's banking sector. BlackRock, which reported $7.43trn (£5.97trn) in AuM on 31 December, will be paid €280,000 for its consultancy role by the EC. A spokesman for BlackRock said last week: "We are honoured that BlackRock Financial Markets Advisory has been selected to perform an analysis to inform the European commission's action plan on sustainable finan...
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