Hollywood Hunter

Chapter 635: Cersei Capital's expansion again (repair)

Simon returned to his manor in Greenwich. Janet, who had arrived early, greeted him in front of the villa, threw himself into the man's arms and kissed him, and entered the living room with his arm.

Not in a hurry to pay attention to things on the African side, the couple sat down on the sofa in the living room and Simon asked the woman about the results of this trip to Boston.

With the rise of Cersei Capital’s Black Rock Asset Management Company, many large financial groups have begun to pay attention to this business. Before Black Rock, although professional asset management companies have developed for many years, they have reached 200 billion US dollars in scale. There is not one yet. Most financial companies have focused on high-risk and high-yield areas such as hedge funds and private equity in recent years based on traditional businesses.

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

Wall Street has always been known for its mysterious and powerful in the hearts of later people.

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

The real pattern change started in the 1990s. The continuous economic turmoil and recession in Europe and Asia led to a huge influx of capital to the United States, where the economy continued to prosper. Federal authorities also continued to loosen the financial industry control in the 1990s, and finally created After the new century, Wall Street has a dominant global position.

Whether it is hedge funds, private equity or asset management industries, Wall Street in the 1990s showed a tenfold 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 uses leverage uncontrollably, but its overall scale continues to increase. The business model is biased towards the conservative asset management industry, and it has developed from the highest tens of billions of dollars in asset management in the 1980s to a trillion-dollar super giant.

In consideration of the overall development strategy of the Westeros system, among the three subsidiaries of Cersei Capital, Simon is least valued by Cersei Fund Management, which is mainly engaged in hedge fund business, and the most valued is Lawrence Fink. 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 to cut Hus. The target is State Street Bank, which is headquartered in Boston. The veteran banking giant is considering to separate its asset management business and establish an independent asset management subsidiary similar to Black Rock.

Later, if people are interested in the equity structure of large American companies, they will certainly find that whether it is emerging technology companies such as Apple, Google, and Amazon or old giants such as General Electric, Boeing, and Exxon Mobil, the top public shareholders can usually be found. Two names,'BLACKROCKINC.' and'STATESTREETCORP', the former is Black Rock Group and the latter is State Street Bank.

Even though the overall asset management scale has never been comparable to that of the Black Rock Group, State Street Bank, which is usually among the top five public shareholders of large companies like Black Rock, can be seen in its strength.

The core business of State Street Bank at this stage is still concentrated in the traditional banking sector. The asset management business does not operate independently. The scale of control assets is only one-tenth of the total assets of State Street Bank, about 60 billion US dollars.

Of course, the scale of assets under management of 60 billion US dollars is already at the level of Big Mac in this era.

Before most financial giants were only aware of the development prospects of the asset management industry and did not fully understand the importance of this industry that may affect the direction of the U.S. economy in the future, Simon decisively and Janet launched a plan to try to cut Hus. State Street Bank’s plan to spin off its asset management department to operate independently was directly strangled in the cradle.

The feasibility of this plan is very high.

The core is the golden sign of ‘Cersei Capital’.

For the veteran State Street Bank, the asset management department, which is only one-tenth of its total business, is exchanged for tickets to Cersei Capital to establish a close cooperative relationship with the entire Westeros system. This business is at least It is very cost-effective at this stage.

Therefore, after Janet started contacting State Street Bank at the beginning of the year, although the other party did not give a positive response immediately, it did not close the door to negotiations.

After seeing each other for a while, the formal negotiations finally began in March.

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

"The final plan is a complete share swap. We can save a lot of money." In the living room of the villa, Janet sat horizontally on Simon's lap, with one hand around the man's neck, and the other lightly on his chin. Scratching, he said: "25% of the shares in Black Rock Asset Management are exchanged for the entire asset management department of State Street Bank. 22% of the shares belong to State Street Bank, and the other 3% belong to the wealth management team of State Street Bank. A core executive. After this transaction, our shareholding ratio dropped from 41% to 32%. However, State Street Bank stated that it can grant us the voting rights of 22% of its shares for a period of 5 years."

When Janet said this, she blinked slyly at Simon.

Simon naturally understood.

With the rapid expansion of the scale of Black Rock Asset Management, the relationship between the Simons and Lawrence Fink is far less harmonious than at first.

The key is to control the financial giant.

Lawrence Fink single-handedly structured the business model of Black Rock Asset Management. However, the company was able to expand its asset scale to the current level of US$210 billion in just a few years. The most fundamental reason was the golden word "Cersei Capital". sign. Wall Street has never lacked bankers at the level of genius. In recent years, Cersei Capital’s appeal to investors around the world has been unmatched by even the veteran Morgan and Goldman Sachs.

There is no other reason. The rise of the Westeros system over the years is a miracle. Capital pursues profit, and investors naturally tend to be more inclined to companies that can bring substantial returns to themselves.

Lawrence Fink obviously also knows this, so in recent years it has only quietly diluted the shareholding ratio of parent company Cersei Capital by continuously allocating equity to new partners as much as possible. 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 go public with Black Rock Asset Management.

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

In contrast, once a financial company is listed, as the nature of the company changes, the ownership structure is completely finalized, 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 out of date for listed companies.

All in all, when a company gradually becomes a publicly held company with diversified 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 substantially.

Lawrence Fink wants to gradually obtain the true control of Black Rock Asset Management from Cersei Capital by continuously diversifying equity and promoting the listing of companies. In original time and space, this top Wall Street banker did exactly that.

This time it is no longer possible.

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

Obtaining the voting rights of 22% of State Street Bank’s shares, even if it is not permanent, and counting the 32% of Cersei Capital’s holdings, the total voting rights of 54% of the shares are enough to ensure that the Simons will enjoy Black Rock in the next five years Absolute control of the asset management company.

Five years is enough to do too much.

When a company develops to a certain level, the operation of the company is often like a huge machine, with considerable autonomous operation capabilities, and no longer requires continuous real-time control by operators. As a result, even Lawrence Fink, the founder who built this machine, is no longer indispensable.

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

At that time, the total assets under the management of Black Rock Asset Management were only a mere US$3 billion. At that time, even if Lawrence Fink went out of the house, he could make a comeback with his own ability.

Now, once the merger of State Street Bank’s asset management department is completed, coupled with its continuous expansion, it is expected that by the end of this year, the total assets of Black Rock Asset Management will exceed US$300 billion, which is equivalent to Cersei Capital’s initial takeover of Black Rock. 100 times the scale.

At this time, not to mention whether Lawrence Fink is willing to give up everything he has in his hands, even if he does, it will be difficult for him to create such a financial empire with assets of hundreds of billions of dollars from scratch. .

Simon initially agreed to share the shares of Black Rock Asset Management Company in accordance with his 50% shareholding ratio, but he has actually expressed his attitude. He attaches great importance to Lawrence Fink, who built the Black Rock Empire in the original space and time, so he does not pursue a controlling stake, but Cersei Capital must not take over 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 take back the absolute control of Black Rock Asset Management.

As long as this transaction is successful, Cersei Capital will firmly grasp the absolute control of Black Rock Asset Management for at least the next five years, both in name and in practice. If Lawrence Fink still can't change his attitude, Simon doesn't mind letting the opponent 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, and said, "Didn't he always want to expand the scale of Black Rock as much as possible. This time it just happened to be what he wanted. What else? However, in Washington, this transaction wants It may take a lot of effort to get approval from the authorities."

In recent years, the Westeros system has been too sharp. Even if the transaction between Black Rock Asset Management and State Street Bank does not involve a monopoly, the scale of assets held by Black Rock Asset Management is so large that the authorities will inevitably be Create obstacles because of fear.

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

Janet listened to this woman and got off Simon's lap with a smile, and said, "I'm going to prepare dinner, honey, what do you want to eat?"

Simon said as many times as before: "Whatever."

As for what to eat, although Simon can't reach Buffett's rough standard of all-day burger cola, he never picks and chooses, and he does not search the world for rare ingredients like some rich people.

Janet joked that he wanted the chef to make a dish called "whatever", and finally glanced at the shirt collar with two buttons on the collar of the shirt. I didn't know whether it was intentionally or unintentionally unbuttoned. The charming woman revealing a white breast, turned to the east side of the kitchen. Go.

Simon also stood up and glanced at the woman's neckline without concealment. His gaze also moved down to outline a few perfect arcs. He slightly gestured to the woman to lead the way and said, "Let's go, Celia. That's right. What was the result of this operation?"

The woman's name is Celia Miller. She is 36 years old and married. Miller is her husband's family name.

However, this woman is very interesting to dig deep.

Celia Miller is a second-generation Washington official who was born and raised.

After graduating from Northwestern University that year, Celia Miller directly embarked on the road of politics. His first job was the White House intern of President Ronald Reagan who had just taken office at that time. Subsequently, he entered the U.S. Department of the Treasury at the age of 24 and married his current husband Philip Miller at the age of 27.

Philip Miller’s father, Michael Miller, was a lieutenant admiral. Philip Miller, three years older than Celia Miller, was also a professional soldier. After serving in the Navy in his early years, he is currently in the Pentagon with the rank of colonel. Work of the Joint Staff.

Taking advantage of her husband's relationship with the military, Celia Miller transferred to work in the defense system after marriage. When she left early last year, this woman had already taken up the post of director of the Office of the Attorney General of the Ministry of Defense. The U.S. Department of Defense’s Office of the Attorney General is equivalent to the ‘FBI’ system within the U.S. military, and is responsible for overseeing the operations of the entire U.S. military. The importance is evident.

It is precisely because this department is so important that after Clinton came to power, he naturally wanted to nominate candidates for placement as much as possible.

With regard to the core departments of these countries, the White House cannot act recklessly. Many officials require Congress to approve their fate.

Moreover, the U.S. military is a self-contained system, and its internal forces are intricately intertwined. Even if it is a position that the White House has the right to decide, it is not the president who sends it whatever he wants. It is often the result of a game between all parties.

Originally according to Celia Miller's background, this woman would not be taken down.

Unfortunately, the largest backer of the Miller family, Lieutenant General Michael Miller, formally retired in 1992. People go to the tea house. The connections of the Miller family in the military can only ensure that Philip Miller’s post in the Ministry of Defense after the change of term will increase. 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's family once she returned to the pre-liberation period.

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

Philip Miller is a gay.

The United States is still very conservative at this stage, and the issue of homosexuality is even more a taboo in the military system. After Clinton came to power last year, he tried to unbind the issue of homosexuality in the military, but he was ashamed. Until now, he is often attacked by the media, showing the sensitivity of this issue.

Once Philip Miller was almost kicked out of the army because of his homosexuality. In order to ensure his son’s future, Michael Miller personally arranged the marriage, which naturally promised Celia Miller. In order to make this marriage more presentable, this apparent couple gave birth to a son through IVF in the 1980s.

After paying so much, Celia Miller was of course not reconciled to clearing zero overnight. Over the past year, she has tried hard to recover, but to no avail.

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

Personal military assistant, this is a very new term.

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

However, Simon Westeros, this name can never be wrong.

U.S. government officials are usually not permanent. It is even more common practice to transfer to private companies based on accumulated contacts and qualifications after resignation.

Since there is no hope of climbing in the political world, Celia Miller decisively submitted her resume.

It stands to reason that the military assistants should be better made by men, but Simon is used to female assistants and has no intention of changing them.

Moreover, he does not hide his preferences.

In the end, she was selected among hundreds of candidates, who was of the right age and very interesting background in appearance and body.

People who can come into contact with Simon’s circle often inevitably feel that the beauty around this super tycoon is like a cloud.

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

The key is that Simon is already at the top of the pyramid in this world.

Moreover, Simon not only has huge 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 given most of the resources on this planet, including beauty resources.

If Simon wants, he can find a lot of women of a certain type for himself to enjoy at any time. Just like the hundreds of luoli being raised in Europe and the Caribbean at this time.

Celia Miller is excellent both in appearance and ability.

It's just that in this world, people are the most lacking.

When the population base is large enough, even if it is strictly selected one after another, the final choice will be enough.

For Simon, Celia Miller was just one of hundreds of equally outstanding military assistant candidates he could pick.

Celia Miller walked slightly sideways in front of Simon. Hearing the man’s question, he nodded and said: “It’s very smooth. Our helicopter formation is divided into five groups. The headquarters of the National Radio Station in the capital of Rwanda and the headquarters in the four provinces have been separated. All broadcast base stations are cleared."

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