BlackRock (BLK) Bank of America Financial Services Conference 2026 summary

Organic growth and industry trends

• Achieved 9% organic base fee growth in 2025, with Q4 reaching 12%, driven by enterprise wins and breadth across ETFs, digital assets, and private markets.

• Sustainable organic growth expected at 6-7%, supported by structural industry shifts like brokerage to advisory and retail access to private markets.

• Top 5 asset managers now capture 80% of industry flows, but significant fragmentation remains, offering further consolidation opportunities.

Strategic priorities and integration

• Focused on integrating recent acquisitions in infrastructure and private credit to maximize synergies and scale across public and private markets.

• Building multiple $500 million revenue businesses in private markets, insurance, wealth, active ETFs, and digital assets.

• Targeting $400 billion in fundraising growth by 2030, leveraging institutional, wealth, and insurance channels.

ETF and technology expansion

• iShares saw $530 billion in organic asset growth, with continued double-digit growth and expansion into new ETF use cases globally.

• European ETF platform set records in 2025, with further growth expected as market structure evolves.

• Aladdin technology business achieved 16% ACV growth in 2025, targeting mid-teens growth to help reach $36 billion revenue and double operating income by 2030.