The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Rebuilding BlackRock Beyond Its Walls Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 31, 2020

Rebuilding BlackRock Beyond Its Walls

Reported by Neil Anderson, Managing Editor

In light of the coronavirus pandemic and resulting crisis, the BlackRock [profile] team has "rebuilt BlackRock beyond the walls of BlackRock," writes Larry Fink, chairman and CEO of the New York City-based asset manager in his annual chairman's letter to shareholders.

Laurence D. Fink
Chairman, CEO
The Financial Times, P&I, and Reuters all picked up on Fink's letter, which was released on Sunday.

Fink's letter, heavily colored by the COVID-19 situation, hints at what's next for the publicly traded titan. He continues to see "massive consolidation" in asset management (though he makes no hints about BlackRock itself acquiring again), stresses the "tremendous growth" of ETFs (especially fixed income ones), doubles down on the importance of illiquid alternative investing and technology (like BlackRock's Aladdin risk management platform), and trumpets the recent performance of ESG strategies ("we've seen sustainable portfolios deliver strong performance than traditional portfolios during this period [i.e. the pandemic]"). He also talks up the 32-year-old firm's culture.

As for the current crisis, Fink notes that it is unlike anything he's experienced in his 44 years in the business. 2019, he says, "seems a distant reality."

"On many days in recent weeks, we have had over 90% of our people around the world working from home — managing portfolios, serving clients and building technology," Fink writes. "BlackRock's offices globally are nearly empty and instead, I write to you in isolation from home like millions of other people."

Yet Fink does remain optimistic about the economy recovering eventually.

"Long-term thinking has never been more critical than it is today," Fink writes. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use