I don’t think it’s clever for BlackRock to be in two businesses that could create conflicts of interest. Nor do I think it’s clever of the EU to employ them when there would be immediate suspicion this would be the case.
But because the perception exists, I think they would go out of their way to put in processes and practices that would prevent leakage between divisions. Basically what the ends up looking collusion is just the coincidence that two groups of smart people on either side of the Chinese wall end up seeing the same sets of opportunities or being involved in similar sectors. More that than actual insider trading