GDG enters strategic alliance with BlackRock | Australian Markets
Generation Development Group has entered into a strategic alliance with BlackRock aimed on the retirement merchandise market.
As half of the alliance, BlackRock will purchase a strategic stake in GDG.
The two firms introduced the alliance at present stating that by bringing collectively Generation Life and BlackRock’s native and world retirement investment experience, the 2 companies are targeted on setting a new customary for managing longevity and sequencing risk with investment options developed in Australia for Australian retirees.
Commenting on the transfer, GDG chief government, Grant Hackett stated that BlackRock’s investment in GDG strengthened their shared dedication.
“This strategic alliance validates our proven track record and builds on the strong momentum Generation Life has achieved in recent years as we continue to expand our capabilities and grow our presence in the financial advice and retirement income sector,” he stated.
BlackRock Australia head, Jason Collins stated the investment in GDG would make sure the best of his firm’s world retirement experience and technology is delivered to the Australian market by means of a confirmed native innovator.
“By combining Generation Life’s technical expertise and product structuring capabilities with BlackRock’s scale in technology and investment management, this strategic alliance enables BlackRock to contribute to the development of the retirement income sector in Australia at a time of increased client and policymaker focus.”
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