BlackRock's Larry Fink gets $23.9 million payday for 2014

Package includes $900,000 base salary, $9.1 million cash bonus, $13.6 million stock compensation

Apr 17, 2015 @ 2:43 pm

By Timothy Pollard

BlackRock Chairman and CEO Laurence D. Fink
+ Zoom
BlackRock Chairman and CEO Laurence D. Fink (Bloomberg News)

BlackRock Chairman and CEO Laurence D. Fink earned $23.9 million in total compensation in 2014, a 4% increase from the year before, the company's proxy statement, released Friday, shows.

Mr. Fink, head of the world's largest money manager, is the highest paid investment management CEO.

Second is Gregory J. Fleming, Morgan Stanley's president of wealth management and investment management, who earned $17.4 million in total compensation in 2014. Mr. Fleming's compensation increased 53.3%.

Mr. Fink's package included a $900,000 base salary, a $9.1 million cash bonus and stock compensation of $13.6 million. The remaining $193,750 was “other compensation.”

Mr. Fink's cash bonus in 2014 was 7.4% lower than the previous year.

BlackRock's assets under management grew 8% during the year. Its stock returned 15.65%, 200 basis points more than the S&P 500.

Janus Capital Group CEO Richard Weil got a 72.7% jump in pay last year, the biggest increase of any money management executive. But at $8.1 million, his compensation package is dwarfed by those of Messrs. Fink and Fleming.

Timothy Pollard is data editor at sister publication Pensions & Investments

0
Comments

What do you think?

View comments

Recommended for you

Latest news & opinion

Cetera broker-dealers to pay back $3.3 million to clients overcharged for mutual funds

Over an eight-year period, the B-Ds failed to properly supervise sales charge waivers to clients in retirement plans and charitable organizations.

Fiduciary advocates press CFP Board for specifics on standards changes

Meanwhile, few brokerages and their trade associations, which blasted the DOL's fiduciary rule in comment letters, are responding to the CFP Board's proposal.

Big gains attract new money to emerging markets, but should investors stay?

An estimated $6.7 billion has flowed into emerging-market stock funds and ETFs so far this year, according to Morningstar.

Attorney blasts Finra after regulator loses insider trading case

Lawyer says it was 'slimy' of Finra to publicize the case while it was still being litigated.

Will Jeffrey Gundlach's Trump-like approach on Twitter work in financial services?

The DoubleLine CEO's attacks on Wall Street Journal reporters is igniting a discussion on what's fair game on social media.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print