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The southern Europe cluster follows similar regional hubs BlackRock created across Europe such as Germany-Switzerland, France-Belgium-Luxembourg, and the Nordics.
The newly created southern European region employs around 200 people and accounts for some 200 billion euros in assets under management, one of the sources said.
The regional structure aims to boost coordination across countries to help business development as well as internal representation, the people added.
(This story has been corrected to refer to assets under management to 200 billion euros and not 400 billion in paragraph 3)
