Simon returned to the manor in Greenwich City. Janet, who had arrived in advance, greeted him at the door of the villa. She threw herself into the man's arms and became intimate with him. She took his arm and entered the living room together.
Not in a hurry to pay attention to things in Africa, the couple sat down on the sofa in the living room, and Simon asked the woman about the results of her trip to Boston.
With the rise of Black Rock Asset Management, a subsidiary of Cersei Capital, many large financial groups have begun to pay attention to this aspect of business. Before Black Rock, although professional asset management companies had been developing for many years, the scale of such companies reached US$200 billion. There is no one. Most financial companies have focused more on high-risk and high-yield areas such as hedge funds and private equity in recent years based on their traditional businesses.
Black Rock Asset Management Company wins entirely based on scale. When it reaches a certain scale level, the risk is still very low, but the returns are high enough, which makes it impossible for other financial giants to calm down.
Wall Street has always been known as mysterious and powerful in the minds of later generations.
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 strong enough to compete with the United States.
The real pattern change began in the 1990s. The continuous economic turmoil and recession in Europe and Asia caused a large amount of capital to flow to the United States, where the economy continued to prosper. The federal authorities also continued to relax controls on the financial industry in the 1990s, eventually creating After the new century, Wall Street became the dominant player in the world.
Whether it is the hedge fund, private equity or asset management industry, Wall Street in the 1990s showed rapid growth of ten times.
The total size of hedge funds has increased from tens of billions of dollars in the 1980s to trillions of dollars in the new century. After the craziness of the 1980s, private equity no longer used unbridled leverage, but its overall size continued to increase. The business model is biased towards the conservative asset management industry, and it has developed from a peak asset management scale of tens of billions of dollars in the 1980s to a multi-trillion-dollar super giant.
Out of consideration for the overall development strategy of the Westeros system, among the three subsidiaries of Cersei Capital, the one Simon values least is Cersei Fund Management Company, which is mainly engaged in hedge fund business, and the one he values most is the one run by Lawrence Fink. Blackrock Asset Management.
Blackrock Asset Management's total assets have recently exceeded US$210 billion, but Simon is not satisfied.
Since the beginning of the year, Janet has been planning a cut-off, targeting Boston-based State Street Bank. This old banking giant was previously considering spinning off its asset management business and establishing an independent asset management subsidiary similar to Black Rock.
If you are interested in the ownership structure of large American companies in the future, you will definitely find that whether it is emerging technology companies such as Apple, Google, and Amazon, or established giants such as General Electric, Boeing, and Exxon Mobil, you can usually find the top public shareholders. Two names, 'BLACKROCK INC.' and 'STATE STREET CORP.', 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 Black Rock Group, the strength of State Street, which is usually among the top five public shareholders of large companies like Black Rock, is also evident.
At this stage, the core business of State Street Bank is still concentrated in the traditional banking field. The asset management business is not operated independently. The scale of controlled assets is only equivalent to one-tenth of the total assets of State Street Bank, which is about 60 billion US dollars.
Of course, the asset management scale of US$60 billion is already a giant in this era.
Before most financial giants were only aware of the development prospects of the asset management industry but did not fully see the importance of this industry in affecting the future direction of the U.S. economy, Simon decisively launched a plan with Janet to try to cut it off, hoping that The plan of State Street Bank to spin off its asset management department and operate it independently was killed in the bud.
The feasibility of this plan is very high.
The core lies in the golden name of 'Cersei Capital'.
For the well-established State Street Bank, using its asset management department, which is only one-tenth of its total business, to exchange for a ticket to enter Cersei Capital, and then establish a close cooperative relationship with the entire Westeros system, this business will be at least as long as It's still 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 a period of trial and error, formal negotiations finally began in March.
Janet went to Boston this time to finalize the final details of the cooperation.
"The final plan is a complete stock exchange merger. We can save a lot of money." In the living room of the villa, Janet sat across Simon's lap, one hand around the man's neck, and the other hand gently placed on his chin. Scratching, he said: "25% of the equity of Black Rock Asset Management Company is 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 members of the Asset Management team of Rich Bank. A core executive. After this transaction, our shareholding ratio dropped from 41% to 32%. However, State Street Bank stated that it could grant us the voting rights of its 22% stake for a period of 5 years."
When Janet said this, she winked at Simon slyly.
Simon naturally understood.
As Black Rock Asset Management expanded rapidly, the relationship between the Simons and Lawrence Fink was far less harmonious than it had initially been.
The key is still the issue of control of this financial giant.
Lawrence Fink single-handedly structured the business model of Black Rock Asset Management. However, the most fundamental reason why this company was able to expand its asset size to the current level of US$210 billion in just a few years is the golden word 'Cersei Capital' Shop sign. Wall Street has never lacked talented bankers, and in recent years, Cersei Capital has attracted investors from all over the world. Even the old Morgan and Goldman Sachs cannot match it.
There is no other reason. The rise of the Westeros system in recent years is nothing short of miraculous. Capital pursues profits, and investors naturally prefer companies that can bring them generous returns.
Lawrence Fink obviously knows this, so in recent years he has only tried his best to quietly dilute the shareholding ratio of the parent company Cersei Capital by continuously distributing equity to new partners as much as possible. Prior to this transaction, Cersei Capital's stake in Black Rock Asset Management had been reduced from the initial 50% to 41%.
Not only that, Lawrence Fink also plans to further list Black Rock Asset Management.
For traditional partnership financial companies, partners' equity is usually not permanent. Once a partner leaves the company, he or she can only receive a compensation, and the shares during his tenure need to be returned.
In contrast, once a financial company goes public, 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 veto power originally enjoyed by Cersei Capital's parent company are inappropriate for listed companies.
All in all, when a company gradually becomes a publicly held company with dispersed ownership through listing, the power of shareholders is often weakened, and the control power of the company's board of directors and management will be significantly increased.
Lawrence Fink wants to gradually gain real control of Black Rock Asset Management from Cersei Capital by continuously dispersing equity and promoting companies to go public. In the original time and space, this top Wall Street banker did exactly this.
This time it's no longer possible.
Moreover, as long as the merger between Black Rock Asset Management and the asset management arm of State Street Bank is completed, Fink's planning in recent years will go back to the starting point.
Obtaining the voting rights for 22% of the shares held by State Street, even if it is not permanent, including the 32% held by Cersei Capital, the voting rights for a total of 54% of the shares are enough to ensure that the Simons will enjoy Black Rock within the next five years. Absolute control of the asset management company.
Five years is enough time to do a lot.
When the scale of a company reaches a certain level, the enterprise often operates like a huge machine, with considerable autonomous operation capabilities, and no longer requires continuous real-time control by the operator. As a result, even Lawrence Fink, the founder who built the machine, is no longer indispensable.
Moreover, this stage is no longer the early stage of Lawrence Fink’s departure from Blackstone Group to Cersei Capital.
At that time, the total assets under management of Black Rock Asset Management was only a mere US$3 billion. Even if Lawrence Fink left the house at that time, he could make a comeback by relying on his own abilities.
Now, once the merger of the asset management department of State Street Bank is completed, coupled with its own continued expansion, it is expected that the total assets responsible for Blackrock Asset Management will exceed US$300 billion by the end of this year, which is equivalent to the initial takeover of Blackrock by Cersei Capital 100 times the size.
At this time, let alone whether Lawrence Fink is willing to give up everything he has and leave the house, even if he does, it will be difficult for him to create such a financial empire from scratch with assets of hundreds of billions of dollars. .
When Simon agreed to share the equity of Black Rock Asset Management Company in accordance with each other's 50% shareholding ratio, he had actually made his attitude clear. He attaches great importance to Lawrence Fink, who single-handedly built the Black Rock Empire in the original time and space, so he does not pursue a controlling stake. However, 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 absolute control of Black Rock Asset Management.
As long as this transaction is successful, Cersei Capital will firmly have absolute control of Black Rock Asset Management, both nominally and actually, for at least the next five years. If Laurence Fink still can't change his attitude, Simon doesn't mind knocking him out completely.
In the living room of the villa, after listening to Janet introducing the general merger plan, Simon asked: "How is Fink's current status?"
Janet rubbed the stubble on Simon's chin with her palm and said: "Hasn't he always wanted to expand the scale of Black Rock as much as possible. This time he just got his wish, what else can he do? However, Washington, this transaction wants Getting approval from the authorities may take a while.”
The Westeros system has become too powerful in recent years. 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 huge that the authorities will inevitably Fear creates obstacles.
The couple sat on the sofa in the living room and discussed 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 corridor on the west side of the living room. Seeing the appearance of the Simons, they were slightly moved. After a pause, he nodded to Janet who was looking at him, and then said to Simon: "Mr. Westeros, I just came here to ask, everyone is waiting for you."
After hearing what the woman said, Janet got off Simon's lap with a smile on her face and said, "I'm going to prepare dinner, dear, what do you want to eat?"
Simon said as he had many times before: "Whatever."
When it comes to food, although Simon is not up to Buffett's rough standard of hamburgers and cola all day, he has never been picky, let alone like some rich people who travel all over the world to collect rare ingredients.
Janet joked that she wanted the chef to make a dish called 'Whatever'. Finally, she glanced at the charming woman whose shirt collar had two buttons unbuttoned intentionally or unintentionally, then turned around and walked to the kitchen on the east side.
Simon also stood up and unabashedly took a look at the woman's neckline. His gaze moved downwards, outlining several perfect arcs. He slightly motioned for the woman to lead the way and said, "Let's go, Celia. By the way, 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 surname.
However, it is very interesting to dig deeper into the background of this woman.
Celia Miller was a second-generation official born and raised in Washington. She was not considered prominent, but she was still considered to be of the upper class.
After graduating from Northwestern University, Celia Miller went straight into politics, and her first job was as a White House intern for President Ronald Reagan, who had just taken office at the time. Later, he entered the U.S. Treasury Department 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 Vice Admiral in the Navy. Philip Miller, who is three years older than Celia Miller, is also a professional soldier. After serving in the Navy in his early years, he is currently working in the Pentagon with the rank of colonel. Joint Staff work.
Taking advantage of her husband's family's connections in the military, Celia Miller moved to work in the defense system after her marriage. When she left her job early last year, the woman had already reached the position of director of the Office of the Attorney General of the Department of Defense. The Office of the Inspector General of the U.S. Department of Defense is equivalent to the 'FBI' system within the U.S. military. It is responsible for monitoring the operations of the entire U.S. military. Its importance is evident.
Precisely because this department is so important, after Clinton came to power, he naturally wanted to nominate and install his own candidates as much as possible.
For these core departments of the country, the White House cannot act arbitrarily, and the resignation of many officials requires congressional approval.
Moreover, the U.S. military is a self-contained system with intertwined internal forces. Even positions that the White House has the power to decide cannot be issued by the president as he wants. In many cases, they are the result of trade-offs between all parties.
Originally, according to Celia Miller's background, this woman would not be taken down.
Unfortunately, the Miller family's biggest supporter, Lieutenant General Michael Miller, officially retired in 1992. The Miller family's connections in the military can only ensure that Philip Miller's position in the Department of Defense will rise after the change of leadership. Celia Miller, who was stronger than her husband, had to be forced out.
After more than ten years of struggle, Celia Miller almost broke up with her husband's family once she returned to before liberation.
You know, the marriage between her and her husband is actually a cover.
Philip Miller is gay.
The United States is still very conservative at this stage, and homosexuality is a taboo in the military system. After Clinton came to power last year, he tried to relax restrictions on homosexuality in the military, but failed. Even now, he is often attacked by the media, which shows 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 and naturally promised many guarantees to Celia Miller. In order to make this marriage more respectable, the superficial couple also gave birth to a son through in vitro fertilization in the 1980s.
After having paid so much, Celia Miller was of course not willing to lose everything overnight. She has been trying hard to save it for the past year, but to no avail.
Until I heard that Simon Westeros was looking for a personal military assistant.
Personal military assistant, this is a very new term.
Often as the violent machine of a state, the military is hardly associated with a single individual.
However, the name Simon Westeros is absolutely unmistakable.
U.S. government officials are usually not permanent, and it is common practice for them to work in private companies based on the connections and qualifications accumulated during their tenure.
Since there was no hope of climbing the political ladder, Celia Miller decisively submitted her resume.
It stands to reason that it would be better for a man to be a military assistant, but Simon is used to female assistants and has no intention of changing.
Moreover, he does not hide his preferences.
In the end, among hundreds of candidates, this woman was selected, with a first-rate appearance, a perfect figure, the right age, and a very interesting background.
People who have access to Simon's circle often lament that there are so many beauties around this super tycoon.
Ordinary people may not be able to touch the top beauties in their lifetime, but Simon Westeros can collect a lot of top beauties around him, and most of them have very smart minds, which is not suitable for even a slightly ordinary rich man. It's so easy to do.
The key is that Simon is already at the top of the world's pyramid.
Moreover, Simon not only has huge wealth, the entire Westeros system also has a very strong voice in the fields of entertainment, fashion, technology, etc.
The combination of all aspects almost ensures that Simon can take whatever he wants from most of the resources on this planet, including beautiful women.
If Simon wanted to, he could always find a bunch of women of a certain type to enjoy. Just like the hundreds of lolita being raised in Europe and the Caribbean at this time.
Celia Miller is outstanding both in appearance and ability.
It’s just that the most indispensable thing in this world is people.
When the population base is large enough, even if the people are strictly screened layer by layer, there will be enough room for final choices.
To Simon, Celia Miller was just one of hundreds of equally outstanding military assistant candidates he could have chosen.
Celia Miller walked slightly sideways in front of Simon. When she heard the man's question, she nodded and said: "It went very smoothly. Our helicopter formation was divided into five groups and has already moved the National Radio headquarters in the capital of Rwanda and the headquarters in four provinces. All broadcast base stations have been cleared.”