BlackRock ($BLK) Ready for its Close-Up

“People always asked me what do I care about the most for our company, and that’s an easy answer; it’s respect.  Being the largest asset-management company in the world isn’t a stat that I actually care about. If we’re the most respected asset-management company in the world, that’s a pretty lofty position.”

Lawrence Fink, BlackRock

Today’s must-read profile is of BlackRock ($BLK), the asset management giant founded by Larry Fink in a one-room office in 1988.  It is now the largest money manager in the world, twice the size of Pimco with over $3.5 trillion in AUM.

But it’s not size that matters to Fink, as you read in the above quote, it’s respect.

BlackRock can no longer stay behind the scenes as defined benefit plans give way to defined contribution plans.  Now that people are more in control of their own assets, reaching them (and not just plan administrators, pros) becomes much more important.  BlackRock has begun asserting itself in equities (44% of the company), advocating on controversial topics (corporate governance, money market fund construction) and other areas where people now expect the company to act like a leader.

Bloomberg’s Alexis Leondis has the story:

What's been said:

Discussions found on the web
  1. w88 commented on Sep 20

    … [Trackback]

    […] There you will find 71605 additional Info on that Topic: thereformedbroker.com/2012/04/07/blackrock-blk-ready-for-its-close-up/ […]

  2. eatverts.com commented on Sep 22

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2012/04/07/blackrock-blk-ready-for-its-close-up/ […]

  3. pinewswire.net commented on Sep 22

    … [Trackback]

    […] Find More Information here to that Topic: thereformedbroker.com/2012/04/07/blackrock-blk-ready-for-its-close-up/ […]

  4. Electricity Rates commented on Sep 23

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2012/04/07/blackrock-blk-ready-for-its-close-up/ […]

Read this next.