BlackRock met EU officials to discuss financial market matters more times than any other company in the seven months to July, in a sign of the growing influence of the world's largest asset manager.
The US giant, which has $4.5 trillion in assets under management, had more meetings with European Commission officials between December and July than Goldman Sachs, HSBC and Deutsche Bank.
It met Jonathan Hill, European commissioner for financial services, and his team five times. Deutsche Bank met his team three times, according to EU Integrity Watch, a website that collects details of lobbying activities in Europe.
BlackRock’s lobbying efforts have worried some investors, raising concerns that the fund house could have too much influence on European policy due to its size.
A spokesperson for BlackRock, where self-reported spending on lobbying in Europe jumped from an estimated €150,000 in 2012 to €1.5 million last year, said: “BlackRock advocates for public policies that we believe are in our investors’ long-term best interests.” – Copyright The Financial Times Limited 2015
