BUSINESS
06/18/2009 05:12 am ET Updated May 25, 2011

BlackRock Faces Off Against BNY Mellon For Biggest Money Manager

May 18 (Bloomberg) -- BlackRock Inc. and Bank of New York Mellon Corp. are competing to become the world's biggest money manager as stock markets show signs of recovery.

Each company is in talks to buy Barclays Plc's fund unit, whose $1.5 trillion in client assets ranks highest in the industry, people familiar with the matter said last week. Each covets Barclays Global Investors' exchanged-traded funds, quantitative index investments and securities-lending business, analysts said.

Read more on Bloomberg