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Rating:Larry Fink is Being Buzzed About as a Potential Successor to Geithner Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 01, 2011

Larry Fink is Being Buzzed About as a Potential Successor to Geithner

News summary by MFWire's editors

Should it become reality, the latest rumor on Wall Street could result in the world's largest asset manager having a new CEO.

Larry Fink
BlackRock
CEO
The New York Post reports today that BlackRock [see profile] CEO Larry Fink "could be one of the executives that the administration turns to in the coming months to take Geithner's post as Treasury secretary, according to the Wall Street rumor mill."

Yesterday, Bloomberg reported that Geithner was mulling over the possibility of leaving the top job at the Treasury after the President arrives at an agreement with Congress to raise the debt ceiling, citing unnamed sources. Meanwhile, Geithner addressed the speculation, saying that he's staying on "for the foreseeable future."

The initial Bloomberg article has set off speculation on who might replace Geithner.

"Fink has been on the top of short lists to replace a number of vacancies at top firms and hasn't been shy about liking to master new challenges," according to the New York Post article. The pub goes on to note that "since helping found BlackRock in 1988, Fink has grown the investment management firm into a $3.5 trillion behemoth after merging with Barclays Global Investors two years ago"

The Post also mentioned JPMorgan CEO Jamie Dimon as a possibility, though he has told colleagues that he's not in interested in the Treasury job.

Other potential candidates include Sheila Blair, who is departing the FDIC this month; Jacob Lew, director of the Office of Management and Budget; Gene Sperling and CFTC boss Gary Gensler, according to the pub.  

Edited by: Armie Margaret Lee


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