The deal for Barclaysto sell its asset management unit for $13.5 billion to Laurence Fink’s BlackRock, the biggest takeover in the asset management industry, has created the world’s largest asset manager.
It appears that BlackRock prepared for this move by hiring lobbyists to help the firm negotiate its way through the maze of new regulations that are expected to come out of the Beltway. The firm hasn’t hired lobbyists since 2004 but in April it quietly hired Quinn & Gillespie as its lobbying firm, Tim Carney at the Washington Examiner reports. Clinton White House Counsel Jack Quinn and former top GOP Senate staffer David Hoppe will run the account for the firm.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.