American asset manager BlackRock has teamed up with Microsoft to host its risk management platform Aladdin on the Microsoft Azure cloud platform.
Microsoft Azure is said to offer greater computing scale to enhance the innovation capabilities of the Aladdin platform.
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Microsoft Worldwide Commercial Business executive vice president Judson Althoff said: “By bringing Aladdin to the cloud, Microsoft will support BlackRock in further enhancing its client experience while also enabling continuous innovation in the financial services industry.
“Together, we will empower an ecosystem of financial services customers running their most critical workloads in the cloud.”
The partnership will offer Microsoft Azure’s network of global data centres and capabilities to Blackrock’s Aladdin.
Commenting on the alliance, BlackRock COO Rob Goldstein said: “Aladdin infrastructure deployed on Microsoft Azure’s cloud platform will provide BlackRock with enhanced capabilities to deliver the best outcomes for our Aladdin clients.”
Notably, last year, BlackRock snapped up eFront – a software provider specialising in the alternative investment management space.
eFront has been integrated with the Aladdin platform.
Earlier this year, Intercontinental Exchange integrated its fixed-income trading platform ICE Bonds with BlackRock’s Aladdin risk management platform.
The Aladdin platform is used by several major financial services firms including HSBC, Santander Asset Management as well as UBS.
