In 2003, Fink helped to negotiate the resignation of the CEO of the New York Stock Exchange, Richard Grasso, who was being widely criticized for his $190 million pay package.

His other positions at the company have included Chairman of the Board, Chairman of the Executive and Leadership Committees, Chair of Corporate Council, and Co-Chair of the Global Client committee.īlackRock went public in 1999. When BlackRock split from Blackstone in 1994, Fink retained his positions (as Director and CEO), which he continued to hold after BlackRock became more independent in 1998. In 1988, Fink co-founded BlackRock under the corporate umbrella of The Blackstone Group and became a Director and CEO of BlackRock. The experience influenced his decision to start a company that would invest clients' money while also incorporating comprehensive risk management as well. He was successful at the bank until 1986, when his department lost $100 million due to his incorrect prediction about where interest rates were headed. At First Boston, Fink was a member of the Management Committee, a Managing Director, and co-head of the Taxable Fixed Income Division he also started the Financial Futures and Options Department, and headed the Mortgage and Real Estate Products Group.įink added as much as $1 billion to First Boston’s bottom line. Eventually taking charge of First Boston's bond department, Fink was instrumental in the creation and development of the mortgage-backed security market in the United States. He then received an MBA at the UCLA Anderson Graduate School of Management in 1976.įink started his career in 1976 at First Boston, a large New York-based investment bank. He earned a BA in political science from the University of California, Los Angeles (UCLA) in 1974. BlackRock is the largest money-management firm in the world by assets under management.įink grew up in a Jewish family in Van Nuys, California, where his mother was an English professor and his father owned a shoe store. He is the chairman and chief executive officer of BlackRock, an American multinational investment management corporation.

Laurence Douglas 'Larry' Fink (born 1952) is an American financial executive.

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