BlackRock has expanded its relationship with Citi Investor Services, appointing the bank to provide select middle‑office functions for $4 trillion in US‑domiciled iShares ETFs on the Aladdin platform.
The integrated model is designed to streamline the full lifecycle of an ETF order, giving asset managers enhanced visibility into basket composition, order status and settlement.
Derek Stein, BlackRock’s head of technology and operations, said Citi had been a trusted partner as the firm evolves its ETF operating model on Aladdin, adding that the appointment underscores the scale, transparency and operational rigour required across the iShares platform. The move builds on a 2021 mandate under which Citi already provides custodial, fund administration and transfer‑agency services for US‑domiciled iShares ETFs, further deepening the firms’ post‑trade collaboration.
