Office address: 50 Hudson Yards New York, NY 10001
Website: www.blackrock.com
Year established: 1988
Company type: investment company
Employees: 19,800+
Expertise: asset management, risk management, ETFs (iShares), fixed income, alternative investments, wealth management, retirement solutions, private equity, infrastructure, real estate, sustainable investing, financial technology
Parent company: N/A
Key people: Larry Fink (CEO), Rob Kapito (president), Joud Abdel Majeid (global head), Stephen Cohen (CPO), Ed Fishwick (CRO), Rob Goldstein (COO), Martin Small (CFO), Chris Meade (CLO)
Financing status: N/A
BlackRock is a global investment company from New York, offering asset management, advisory, and risk management services. The firm manages $11.5 trillion in assets as of October 2024 and operates in over 38 countries. With over 19,800 employees, the company serves clients in more than 100 countries, helping them achieve long-term financial well-being through innovative financial solutions.
BlackRock was founded in 1988 by Laurence Fink and seven partners, driven by a desire to manage assets with a focus on risk management and client interests. The company quickly grew, and in 1999, it launched Aladdin, its proprietary technology that transformed the risk management industry. During the 2008 financial crisis, the company was tapped by the Federal Reserve to assess Bear Stearns' assets, playing a crucial advisory role.
In 2009, it acquired Barclays Global Investors, becoming the world's largest asset manager and integrating both active and index strategies. In 2017, the company deepened its focus on investment stewardship, emphasizing the long-term value of purpose in profitability. By 2024, it partnered with Vestmark to boost model portfolios, further expanding its offerings for registered investment advisors.
BlackRock offers a wide range of investment products and services designed to meet the diverse needs of its clients. Below are the some of their key offerings:
BlackRock’s global team provides insights on markets, economies, and long-term strategies, helping clients navigate the complexities of investing. Whether it is a professional or a new investor, their services aim to support financial success while also empowering employees and giving back to communities.
BlackRock’s culture is built on a commitment to its clients, employees, and core principles. The company focuses on employee growth, offering benefits that support physical, emotional, and financial well-being. The firm provides various resources and benefits to keep employees engaged and balanced, some of which include:
The firm’s commitment to diversity, equity, and inclusion (DEI) is central to its success, fostering an environment where employees feel a sense of belonging. The company’s global platform thrives by incorporating diverse perspectives to deliver the best outcomes for clients. By embracing unique skills and experiences, they empower employees to collaborate effectively and contribute to a shared mission:
The company’s social impact focuses on making financial prosperity accessible to more people and communities. The BlackRock Foundation supports low- to moderate-income households by helping them save, invest, and build wealth. Initiatives include:
BlackRock’s approach to corporate sustainability focuses on long-term value for shareholders, employees, communities, and clients. The company is committed to transparency, providing stakeholders with meaningful sustainability-related information.
Laurence Fink is company’s chairman, CEO, and founder, also serving on the boards of NYU and the World Economic Forum. Before founding BlackRock in 1988, he was a managing director at The First Boston Corporation. Fink earned a BA in political science and an MBA in real estate from UCLA.
The company’s key leadership team includes notable figures who lead the firm’s operations across global markets:
To prepare for potential market volatility, BlackRock advises financial professionals to reduce risk and shift toward safer investment options. With uncertainty ahead, particularly due to macroeconomic concerns and the upcoming elections, the firm highlights the importance of defensive strategies like the BlackRock Flexible Income ETF (BINC). This strategic adjustment also reflects their broader move toward active management, signaling its belief in a more hands-on approach during turbulent times.
The company recently reached an $11.5 trillion milestone in assets under management by the third quarter of 2024. This growth was driven by strong client inflows, notably into ETFs, fixed income, and private assets. BlackRock is accelerating its push into private assets, following acquisitions like Global Infrastructure Partners, and continues to lead in both public and private markets.
BlackRock CEO Larry Fink says public markets can’t navigate path to net zero alone, and shares his view on ‘reimagining emerging markets.'
The asset manager is expanding into private equity with the acquisition of Lexington, which is a big player in the booming secondaries market, which involves buying maturing portfolios from PE investors.
This year's awards recognized 13 winners in categories such as Advocate of the Year, Outstanding Leader of the Year and ESG Investment Manager of the Year.
The London-based firm, which manages more than $785 billion, plans to give portfolio companies time to adopt to its tougher CO2 requirements.
The deep dive into the bank's business will be conducted by lawyers at Covington & Burling, and will focus on Citi's 2020 commitment to dedicate $1 billion to initiatives aimed at closing the racial wealth gap in the US.
CEO Larry Fink said access to private equity should increase and allocations should be in the 20% range, while speaking at the Charles Schwab Impact conference.
The overhauled compensation structure is tied to revenue production and features a length-of-service award for high performers with additional revenue, which will be paid in restricted stock units.
The product, which will be offered in defined-contribution plans, is engineered to deliver 6% income at retirement.
This month’s #AdviserTech roundup includes Franklin Templeton’s purchase of O’Shaughnessy Asset Management and its Canvas direct index platform; Morningstar’s acquisition of Moorgate Benchmarks; Betterment for Advisors’ shift from TAMP to RIA custodian competitor; and the SEC’s inquiry into when fintech-driven nudges become bona fide investment advice.
The fund manager announced that starting next year, some of its institutional clients will be able to play a bigger role in shareholder votes.
BondBloxx, founded by a group of former BlackRock executives, will offer fixed-income exchange-traded funds that target specific industry sectors.
The retirement plan sponsors that have signed on for the new service, which mixes target-date funds and annuities, collectively represent more than $7.5 billion in plan assets.
Support from corporate executives and slick marketing is no match for rules and regulation when it comes to managing sustainable portfolios.
The deal makes Franklin the latest fund company to strike a deal for a direct indexing business. O'Shaughnessy's custom indexing unit, Canvas, has amassed $1.8 billion in assets since it started in 2019.
About 70% of people surveyed said they would choose a job with that feature over a similar one without it, according to a survey by TIAA.
