Hollywood Hunter

Chapter 635 Cersei’s Capital Expansion Again

Simon returned to the manor in Greenwich. Janet, who had arrived earlier, greeted the door of the villa, flung himself in the man's arms, and took him by the arm into the living room.

Not eager to take care of things on the African side, the couple sat down on the living room sofa and Simon asked the woman about the results of her trip to Boston.

With the rise of Cersei Capital's Black Rock Asset Management Company, many large financial groups have begun to attach importance to this business. Before Black Rock, although professional asset management companies have been developing for many years, these companies have reached the scale of 200 billion US dollars. There is not yet one. Most financial companies are more focused on high-risk and higher-yield areas such as hedge funds and private equity based on traditional business.

Black Rock Asset Management Company wins by scale completely, reaching a certain scale level, the risk is still very low, but the return is high enough, which makes other financial giants unable to calm down.

Wall Street has long been known for its mystery and power.

In fact, before the 1990s, Wall Street was still far less powerful than after the new century, and the financial industries in European countries were still sufficient to resist the United States.

The real pattern change began in the 1990s. The continuous economic turmoil and recession in Europe and Asia led to a large amount of capital flowing to the United States. The federal authorities also continued to relax financial industry regulations in the 1990s, and eventually created After the new century, Wall Street has a strong position in the world.

Whether in the hedge fund, private equity or asset management industries, Wall Street in the 1990s showed a ten-fold rapid growth.

The total size of hedge funds has increased from tens of billions of dollars in the 1980s to trillions of dollars after the new century.After the madness of the 1980s, private equity no longer used leverage uncontrollably, but the overall scale continued to increase.The business model is biased towards the conservative asset management industry, and it has developed a super-big Mac with trillions of dollars from the highest asset management scale of tens of billions of dollars in the 1980s.

Considering the overall development strategy of the Westeros system, among the three subsidiaries of Cersei Capital, Simon least cares about the Cersei Fund Management Company, which is a hedge fund business, and the most important thing is that Lawrence Fink is responsible. Black Rock Asset Management Company.

Black Rock Asset Management's recent total assets have exceeded $210 billion, but Simon is not satisfied.

Since the beginning of the year, Janet has been planning a cut-off, and the goal is the Boston-based State Street Bank. This veteran banking giant was considering considering its own asset management business to form a separate asset management subsidiary similar to Black Rock.

Later, if anyone is interested in the shareholding structure of large American companies, they will certainly find that whether it is an emerging technology company such as Apple, Google, Amazon, or a veteran giant such as General Electric, Boeing, Exxon Mobil, the top public shareholders can usually be found. Two names,'BLACKROCK INC.' and'STATE STREET CORP', the former is Black Rock Group, the latter is State Street Bank.

Even though the overall asset management scale has not been comparable to the Black Rock Group, the strength of State Street Bank, which is usually among the top five public shareholders of large enterprises, is the same as that of Black Rock.

At this stage, State Street’s core business is still concentrated in the traditional banking field. The asset management business does not operate independently, and the size of controlled assets is only one-tenth of the total assets of State Street’s assets, about 60 billion US dollars.

Of course, the asset management scale of 60 billion US dollars has become a Big Mac in this era.

Before most financial giants were only aware of the prospects for the development of the asset management industry and did not fully see the importance of this industry in the future that may affect the direction of the US economy,

The feasibility of this plan is high.

The core lies in the golden signboard of Cersei Capital.

For the incumbent State Street Bank, the asset management department is only one-tenth of its total business, in exchange for tickets to the Cersei Capital, and then establish a close cooperative relationship with the entire Westeros system. This business is at least At this stage it is still very cost-effective.

Therefore, after Janet began contact with State Street at the beginning of the year, although the other party did not give a positive response in the first place, it did not close the door to negotiation.

After a period of trial and error, the formal negotiations finally began in March.

Janet went to Boston this time to finalize the details of the cooperation.

"The final plan is a complete share swap and merger, and we can save a lot of money," Janet sat cross-legged in Simon's lap in the living room of the villa with one arm around the man's neck and the other hand gently on his chin Scratched and said, "25% of the equity of Black Rock Asset Management Company will be exchanged for the entire asset management department of State Street Bank. 22% of the equity is owned by State Street Bank, and the other 3% of the equity belongs to several of the bank's asset management team. The core senior. After this transaction, our shareholding ratio dropped from 41% to 32%. However, State Street said that it can grant us the right to vote for 22% of its shares for a period of 5 years."

Janet said here, blinking slyly at Simon.

Simon is naturally clear.

As the size of the Black Rock Asset Management Company expanded rapidly, the relationship between the Simons and Lawrence Fink was far less harmonious than initially.

The key is to control the financial giant.

Lawrence Fink first-hand structured the business model of Black Rock Asset Management Company. However, the company's asset size can expand to the current level of US$210 billion in just a few years. The most fundamental reason is the golden name of Cersei Capital sign.Wall Street has never lacked talented bankers, and in recent years Cersei Capital has attracted investors from all over the world, even the veteran Morgan and Goldman Sachs cannot match.

There is no other reason, and the rise of the Westeros system in recent years is a miracle.Capital goes for profit, and investors naturally prefer companies that can bring huge returns to themselves.

Lawrence Fink is clearly aware of this, so in recent years it has only been possible to quietly dilute the shareholding ratio of the parent company Cersei Capital through the continuous distribution of equity to emerging partners.Prior to this transaction, Cersei Capital’s shares in Black Rock Asset Management had been reduced from the initial 50% to 41%.

Not only that, Lawrence Fink also intends to further the listing operation of Black Rock Asset Management Company.

For a traditional partnership financial company, the partners’ equity is usually not permanent. Once the partners leave the company, they often only get a compensation, and the shares during the period of service need to be returned.

In contrast, once a financial company goes public, the ownership structure is completely finalized as the nature of the company changes, and the shares held by the partners become permanent stocks.Moreover, special powers such as the one-vote veto power originally enjoyed by Cersei Capital's parent company are also outdated for listed companies.

All in all, when a company gradually becomes a publicly-held company with decentralized equity through listing, the power of shareholders will often be weakened, and the control of the company’s board of directors and management will increase significantly.

Lawrence Fink wanted to gradually win the real control of Black Rock Asset Management from Cersei Capital in the form of continuously diversifying equity and promoting corporate listing.In time and space, the top Wall Street banker did this.

This time it was no longer possible.

Moreover, as long as the merger between Black Rock Asset Management and State Street Bank’s asset management department is reached, Fink’s planning in recent years will be directly returned to its original point.

Get the 22% voting rights of State Street Bank, even if it is not permanent. Counting the 32% of Cersei Capital’s voting rights, a total of 54% of the voting rights are enough to ensure that the Simons enjoy Black Rock within the next five years The absolute control of the asset management company.

Five years, enough to do too many things.

When the scale of a company grows to a certain level, the operation of the enterprise is often like a huge machine, with considerable independent operation capabilities, and no longer requires uninterrupted real-time control by the operator.As a result, even the founder of this machine, Lawrence Fink, was no longer necessary.

Moreover, at this stage, it is no longer the early stage of Lawrence Fink's transfer from Blackstone to Cersei Capital.

At that time, the total size of assets managed by Black Rock Asset Management Company was only 3 billion US dollars. Lawrence Fink was able to make a comeback by virtue of his own ability even when he went out of the house at that time.

Now, once the merger of State Street’s asset management department is completed, coupled with its continued expansion, it is expected that by the end of this year, the total asset size of Heiyan Asset Management Company will exceed 300 billion US dollars, which is equivalent to Cersei Capital’s initial takeover of Heiyan. 100 times the size.

At this time, not to mention Lawrence Fink’s willingness to give up all the cleanouts in his hands, even if he did so, it would be difficult for him to create such a financial empire with hundreds of billions of dollars in assets from scratch. .

Simon initially agreed to share the equity of Heiyan Asset Management Co., Ltd. according to his 50% shareholding ratio. In fact, he has already expressed his attitude.He attaches great importance to Lawrence Fink, who created the Black Rock Empire in one hand, so he does not pursue a controlling stake, but Cersei Capital must never take over itself and be gradually marginalized in this company. This is the bottom line.

Lawrence Fink tried to touch this bottom line, and Cersei Capital's counterattack was to completely withdraw absolute control of Black Rock Asset Management.

As long as the transaction is successful, at least for the next five years, whether nominally or in fact, Cersei Capital will firmly hold the absolute control of Black Rock Asset Management.If Lawrence Fink still can't change his attitude, Simon doesn't mind letting the other party out completely.

In the living room of the villa, after Janet introduced the general merger plan, Simon asked, "How is Fink now?"

Janet rubbed the stubble on Simon's chin with his palm and said, "Isn't he always trying to increase the size of Black Rock as much as possible? What happened this time? But what about this transaction in Washington?" It may take some effort to obtain approval from the authorities."

In recent years, the Westeros system has been too aggressive. Even if the transaction between Black Rock Asset Management and State Street does not involve a monopoly, but because the scale of assets held by Black Rock Asset Management is too large, the authorities will inevitably be He is shy and creates obstacles.

The couple cuddled on the living room sofa to discuss how to deal with the obstacles from Washington. After a while, a tall woman in her thirties wearing a dark blue OL suit came out of the west corridor of the living room and saw the appearance of the Simon couple. After a pause, he nodded to look at his own Jenny, and then said to Simon: "Mr. Westeros, I just came here to ask, everyone is waiting for you."

Janet listened to the woman and smiled down Simon’s lap, saying, “I’m going to prepare dinner, my dear, what do you want to eat?”

Simon said the same as many times before: "Randomly."

For the food he eats, although Simon can't reach the rough level of Buffett's all-day burger cola, he never chooses, nor will he search the world for rare ingredients like some rich people.

Janet joked about asking the chef to make a dish called'casual', and finally glanced at the two buttons on the collar of the shirt. Go.

Simon also stood up and glanced at the woman's neckline without concealing her eyes. She looked down and outlined a few perfect arcs. She slightly motioned the woman to lead the way and said, "Come on, Celia. By the way, What was the result of this operation?"

The woman's name is Celia Miller, 36 years old this year, married, Miller is her husband's surname.

However, this woman's bottom is very interesting.

Celia Miller is the second generation of native Washington officials who is not a prominent figure, but also an upper class.

After graduating from Northwestern University that year, Celia Miller went directly into politics. Her first job was a White House intern with President Ronald Reagan, who had just come to power.Subsequently, he entered the US Treasury at the age of 24, and married his current husband, Philip Miller, at the age of 27.

Philip Miller’s father, Michael Miller, is a naval lieutenant. Philip Miller, three years older than Celia Miller, is also a professional soldier. After serving in the Navy in the early years, the current rank of the above school is in the Pentagon. Work with the Joint Staff.

Taking advantage of her husband’s military relationship, Celia Miller moved to work in the defense system after her marriage. When she left office at the beginning of last year, the woman had taken up the post of director of the Attorney General’s Office of the Ministry of Defense.The Office of the Attorney General of the US Department of Defense is equivalent to the'FBI' system within the US military and is responsible for monitoring the operation of the entire US military. The importance is evident.

It is precisely because this department is so important that after Clinton came to power, he naturally nominated as many candidates as possible.

For the core departments of these countries, the White House cannot act arbitrarily, and many officials require the approval of Congress to admit their fate.

Moreover, the U.S. military has formed its own line, and internal forces are intertwined. Even the position that the White House has the power to decide is not what the president wants to do. It is often the result of the game between the parties.

Originally according to Celia Miller's background, this woman will not be won.

Unfortunately, Lieutenant General Michael Miller, the largest supporter of the Miller family, officially retired in 1992, and the people have gone to tea. The military network of the Miller family can only ensure that Philip Miller's position in the Ministry of Defense will increase after the transition. Celia Miller, who is stronger than her husband, can only be forced out.

After more than ten years of struggle, Celia Miller almost broke with her husband before returning to liberation.

You know, this marriage between her and her husband is actually a kind of cover.

Philip Miller is gay.

The United States is still very conservative at this stage, and homosexuality is a taboo in the military system.Clinton tried to loosen the gay issue in the army after he took office last year, but he was hit with a nose. Until now, he has often been attacked by the media. This shows the sensitivity of this issue.

Once Philip Miller was almost kicked out of the army because of homosexuality issues. In order to ensure the future of his son, Michael Miller personally arranged this marriage, and naturally promised Celia Miller many guarantees.In order to make this marriage more decent, the superficial couple also gave birth to a son through test-tube babies in the 1980s.

After paying so much, Celia Miller is certainly not willing to clear it overnight, and she has been trying hard to save it for the past year, but it has failed.

Until I heard that Simon Westero was looking for a personal military assistant.

Personal military assistant, this is a very fresh vocabulary.

Usually as a violent machine in a country, it is difficult for the military to connect with individual individuals.

However, Simon Westero, this name will never be wrong.

U.S. government officials are usually not permanent, and it is even more common practice to transfer to private companies based on accumulated seniority in office after leaving office.

Since there is no hope of climbing in politics, Celia Miller resolutely submitted her resume.

It stands to reason that military assistants should do better with men, but Simon is used to female assistants and does not mean to change.

Moreover, he does not hide his preferences.

In the end, among the hundreds of candidates, she chose the woman with the first-class appearance, the right age, and a very interesting background.

People who can get in touch with Simon's circle often sigh with emotion as the beauty around the super tycoon.

Ordinary people may not be able to reach the top beauties in their lifetime, but Simon Westero can gather a lot of them around, and most of them still have this very smart mind, which is not even for the slightly ordinary rich. It's too easy to do.

The key is that Simon has stood at the very top of this world pyramid.

Moreover, Simon has more than a huge amount of wealth. The entire Westeros system also has a very strong voice in the fields of entertainment, fashion, technology and so on.

The integration of all aspects has almost ensured that Simon has demanded most of the resources on the planet, including beauty resources.

If Simon is willing, he can always find a bunch of women of a certain type for his own enjoyment.Just like the hundreds of loli being raised in Europe and the Caribbean at this time.

Celia Miller is excellent in both appearance and ability.

But in this world, people are the most indispensable.

When the population base is large enough, even if it is rigorously selected layer by layer, there is enough room for final selection.

For Simon, Celia Miller is just one of hundreds of equally outstanding candidates for military assistants.

Celia Miller walked sideways in front of Simon slightly and nodded when she heard the man’s inquiry: “It’s very smooth. Our helicopter formation has been divided into five groups. We have divided the Rwandan capital’s national radio headquarters and the four provinces. All relay base stations are cleared."