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.
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The expansion of iShares Core brings down expense ratios but doesn't eliminate the need for solid due diligence.
Investors considering using ETFs that seek to magnify return of a given index need to understand the risks, says S&P Capital IQ's Todd Rosenbluth.
Mary Jo White took over the Securities and Exchange Commission with a back-to-basics plan to toughen enforcement and clear a backlog of regulations aimed at the last financial crisis.
At annual meeting, CEO faces down analysts who say shareholders would gain more value if the big bank broke off Mellon.
Reduced DB plan presence, cool markets cited for slight AUM gains
Money manager relies on individuals saving for retirement, rising stock prices to offset institutional withdrawals.
Annuities, individual municipal bonds and equities in the pharmaceutical sector hold good prospects for clients seeking retirement income.
BlackRock Inc.'s chief executive Laurence D. Fink said the U.S. housing market is “structurally more unsound” today than before the financial crisis because it depends more on government-backed mortgage companies such as Fannie Mae and Freddie Mac.
Firm growing quicker than peers; quarterly profit up 20% as revenue rises 9% to $2.7B.
BlackRock Inc. CEO Laurence D. Fink, whose firm is the largest shareholder in companies from Apple Inc. to JPMorgan Chase & Co., is repeating his call to chief executive officers to engage with shareholders and be more transparent about balance-sheet decisions.
Global regulators face a backlash from some of the world's largest asset managers including Pacific Investment Management Co., Fidelity Investments, and BlackRock Inc. over plans that could single them out for tougher regulation.
U.S. fund companies are pushing back against claims that some firms may be too big to fail, saying that singling out a few large money managers and subjecting them to more regulation would hurt competition and ultimately fund investors.
Investors are plowing money &mdash; $5 billion in April alone &mdash; into equity ETFs, betting that an expanding economy will overwhelm concerns such as slowing earnings growth, rising valuations and the end of Fed stimulus.
Founder of Garrett Planning Network says investors with low net worth can be served in a market where all advisers must act in their best interests.
