Earlier, BlackRock, the world's largest asset management company, announced that it was cleared by its largest shareholder PNC. This clearance decision will make PNC Financial Services Group withdraw from its long-held BlackRock stock.

The full name of PNC is NCFinancialServicesGroup, which is one of the largest diversified financial services institutions in the United States. It was founded in 1982, which was formed by the merger of Pittsburgh Trust and Savings Company and ProvidentNationalCorporation.