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BlackRock Aggressively Builds Asia Presence as Bitcoin ETF Approval Looms

BlackRock, the world's leading asset manager, has expanded its Asia team by appointing Dennis Quah as Singapore Wealth head and Mandy Lui as head of Greater China Wealth. Quah will focus on partnerships with insurers, consumer banks, and private banks, while Lui will lead from Hong Kong.

These appointments come as BlackRock eagerly anticipates approval for the first US spot Bitcoin ETF. Many speculate that the SEC will eventually greenlight the ETF, despite initial rejection due to minor application errors. However, the firm has faced some internal turmoil and controversy, such as the recent hire of Amin Nasser from oil giant Saudi Aramco, confusing some stakeholders given BlackRock's emphasis on ESG investing.

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