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Thursday, January 3, 2019

Only Three Heads of State Beat This Fundster

News summary by MFWire's editors

When it comes to global finance, the most powerful person who isn't a head of state is a fundster, at least according to one magazine.

Larry Fink, chairman and CEO of BlackRock (the world's largest asset manager), takes the number four spot on Worth's freshly released "Power 100" list for 2018 (up from 11th on the 2017 list but down from 1st on the 2016 list). Only U.S. President Donald Trump, Russian President Vladimir Putin, and Chinese President Xi Jinping rank higher in the new list. (55 people on the list are in the private sector, while 45 are in the public sector.)

Other familiar mutual fund industry faces on the list include: Jay Clayton, SEC chairman, #32 (up from 43 in 2017); Tim Buckley, president and CEO of Vanguard (the world's largest mutual fund firm), #39 (up from 42 in 2017); Abby Johnson, president and CEO of Fidelity (the world's largest 401(k) recordkeeper), #46 (up from 54 in 2017 and 52 in 2016); Mary Callahan Erdoes, CEO of J.P. Morgan Asset Management, #69 (down from 67 in 2017 and 65 in 2016); and Mohamed El-Erian, chief economic advisor at Allianz, #89 (up from 95 in 2017 but down from 84 in 2016). 

Edited by: Neil Anderson, Managing Editor

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