BlackRock derives 10 per cent of its revenue from Aladdin. Intesa Sanpaolo extends the platform to its overseas subsidiaries
BlackRock presented the evolution of Aladdin during a meeting with Intesa Sanpaolo. Aladdin is the technology platform that the group originally developed for risk management and which it now also sells to other operators. According to the company, it is used by over 1,000 institutions in more than 70 countries. In the 2025 financial year, Aladdin generated revenue of approximately $2 billion, accounting for around 10 per cent of the group’s turnover. “It is one of our fastest-growing businesses,” said Giovanni Sandri, BlackRock’s head of Southern Europe. The EMEA region accounts for 37 per cent of Aladdin and eFront’s clients (excluding Preqin), spread across 32 countries.
Intesa Sanpaolo is one of the platform’s Italian clients. In 2019, the bank launched a project to unify the technology systems used by the various group companies and chose Aladdin. In around two years, the platform has been adopted by three divisions and the wealth management operations of four group companies. “Aladdin has enabled us to standardise functionality across the group, improve data quality and analyse portfolio composition down to the finest detail, thereby optimising our service to clients,” explains Massimo Proverbio, Chief Data, AI and Technology Officer at Intesa Sanpaolo. The model is now being rolled out to the group’s foreign subsidiaries in Slovakia, Croatia, Hungary and Slovenia.
During the meeting, the topic of the gradual convergence between public and private markets was also discussed. According to BlackRock, this trend requires tools capable of providing a single view of portfolios. Over the coming years, the company is focusing on artificial intelligence, which will be integrated into Aladdin for portfolio analysis, risk management and decision support. Investment decisions, the company emphasises, will remain with the fund managers.
BlackRock aims to increase the share of technology and private markets to around 30 per cent of total revenue by 2030.
