|Day's range||137.79 - 138.11|
One scoop to start: Billionaire trader Chris Rokos and Goldman Sachs are among big-name investors that have been hit hard in the market upheaval following the collapse of Silicon Valley Bank. BlackRock has emerged as a behind-the-scenes protagonist in the saga of Silicon Valley Bank, the California-based lender whose failure helped spark a banking crisis. The world’s largest asset manager warned SVB that its risk controls were “substantially below” its peers in early 2022, revealed by my colleagues Antoine Gara and Brooke Masters in New York.
Asked about the report, BlackRock spokesman Ryan O'Keeffe said in a telephone interview that "Philipp has no formal involvement in these discussions at all." Hildebrand, who joined New York-based asset manager BlackRock in 2012, previously chaired the governing board of the Swiss National Bank.
BlackRock drew up a rival bid for Credit Suisse that would trump a plan blessed by the Swiss central bank for UBS to acquire its struggling rival, five people with knowledge of the matter told the Financial Times. Larry Fink, co-founder and chief executive of the $8.6tn money manager, was driving the bid, according to people with knowledge of the matter. Fink used to work at First Boston, Credit Suisse’s investment banking business.