Blackrock's chairman and CEO, Larry Fink, has chosen Italy as the venue for the annual convention of the world's leading investment firm. The closed-door meeting between Fink, his team and the main Italian customers will be held today in Milan.
Blackrock staked 1,32% of its capital on Piazza Affari, establishing itself as the leading institutional investor in our country. The company holds 5% of Italian companies such as Telecom, Unicredit, Intesa Sanpaolo, Ubi Banca, Banco Popolare and Azimut.
Andrea Viganò, head of Blackrock in Italy, told Il Sole 24 Ore that - according to the markets - the problems of the banks are now being resolved and this has favored the return of foreign investments to Italy.
However, Blackrock has divested in MPS, reducing its stake from 5,7% to 3,2% in view of the bank's recapitalization from 3 to 5 billion euros. Today's convention in Milan will also serve to understand the reason for this choice.
