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Thursday, May 02, 2013

Fink Wants 300 Attorneys

News summary by MFWire's editors

What do you call 300 lawyers in a New York City office building?

It's not a joke, it's a hiring spree from BlackRock [profile]!

CEO Larry Fink said that his mutual fund shop plans on hiring 300 attorneys to deal with regulatory issues, according to a report from Reuters.

This is because of varying regulations around the globe, Fink said at a conference.

"There is no consistent manner in which bank resolution will be applied," he said, according to Reuters "It is a mess and we are trying to constructively work with our regulators ... There is a need for better global coordinated regulations."

Fore more details, check out the original article here.  

Edited by: Ben Geier


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