Difference between revisions of "Larry Fink"
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|wikipedia=https://en.wikipedia.org/wiki/Laurence_D._Fink | |wikipedia=https://en.wikipedia.org/wiki/Laurence_D._Fink | ||
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| − | '''Laurence Douglas | + | '''Laurence Douglas "Larry" Fink''' is the chairman and CEO of [[BlackRock]],the largest money-management firm in the world with more than $6.5 trillion in assets under management. |
| − | ==Career | + | ==Career== |
Fink started his career in 1976 at [[First Boston]], a New York-based investment bank. 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. At First Boston, Fink was a member of the Management Committee and a Managing Director. | Fink started his career in 1976 at [[First Boston]], a New York-based investment bank. 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. At First Boston, Fink was a member of the Management Committee and a Managing Director. | ||
| − | In 1988, under the corporate umbrella of The Blackstone Group, Fink co-founded BlackRock and became its Director and CEO. When BlackRock split from Blackstone in 1994, Fink retained his positions, which he continued to hold after BlackRock became more independent in 1998. | + | ===BlackRock=== |
| + | In 1988, under the corporate umbrella of The Blackstone Group, Fink co-founded [[BlackRock]] and became its Director and CEO. When BlackRock split from Blackstone in 1994, Fink retained his positions, which he continued to hold after BlackRock became more independent in 1998. | ||
| − | == | + | ===Donald Trump=== |
| + | In December 2016, Fink joined a business forum assembled by then president-elect [[Donald Trump]] to provide strategic and policy advice on economic issues. He has a personal fortune of more than $1 billion. | ||
| − | + | ===Keir Starmer=== | |
| + | [[File:Fink_Number_10.jpg|400px|right]] | ||
| + | On 21 November 2024, Larry Fink and senior [[BlackRock]] executives attended an investment roundtable discussion hosted by [[Keir Starmer]] and [[Rachel Reeves]] at [[10 Downing Street]]. The meeting stemmed from a letter sent by [[BlackRock]] executive Anthony Manchester to newly appointed Business and Trade Secretary [[Jonathan Reynolds]] in July 2024. The letter began by highlighting [[BlackRock]]’s broad range of clientele and the scale of their footprint across the breadth of the [[UK]] economy, name dropping [[British Airways]], [[Rolls Royce]] and [[AstraZeneca]] as investments. It continued:{{QB| | ||
| + | :“As you know, we also share the Government’s view that infrastructure investment can play a critical role in improving economic growth and productivity. We believe infrastructure is poised to become one of the fastest-growing segments in private markets globally. As our Chairman and CEO Larry Fink has recently written, private capital market financing, combined with policy pragmatism, are necessary to meet countries’ infrastructure needs and thereby enhance economic growth and productivity. | ||
| − | + | :“We would welcome the opportunity to meet with you to discuss our work on funding the projects and enterprises that drive the economy and building the [[UK]]’s case as an investment destination. We will work with your team to get this meeting in the diary."}} | |
| − | + | Cutting through the corporate glaze, [[BlackRock]] is highlighting that [[Labour]]’s entire political project rests on the willingness of companies like [[BlackRock]] to plough private capital into the foundational components of our society (and extracting massive profits in the process).<ref>''[https://www.opendemocracy.net/en/dark-money-investigations/the-blackrock-letters-inside-labours-close-partnership/ "The BlackRock letters: inside Labour's 'close partnership'"]''</ref> | |
| + | {{SMWDocs}} | ||
| − | |||
==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
Latest revision as of 16:46, 23 November 2024
 Larry Fink    (billionaire, banker) | |
|---|---|
 | |
| Born | November 2, 1952 Los Angeles |
| Nationality | US |
| Alma mater | UCLA |
| Founder of | BlackRock |
| Interests | finance |
CEO of the largest money-management firm in the world | |
Laurence Douglas "Larry" Fink is the chairman and CEO of BlackRock,the largest money-management firm in the world with more than $6.5 trillion in assets under management.
Contents
Career
Fink started his career in 1976 at First Boston, a New York-based investment bank. 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. At First Boston, Fink was a member of the Management Committee and a Managing Director.
BlackRock
In 1988, under the corporate umbrella of The Blackstone Group, Fink co-founded BlackRock and became its Director and CEO. When BlackRock split from Blackstone in 1994, Fink retained his positions, which he continued to hold after BlackRock became more independent in 1998.
Donald Trump
In December 2016, Fink joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues. He has a personal fortune of more than $1 billion.
Keir Starmer
On 21 November 2024, Larry Fink and senior BlackRock executives attended an investment roundtable discussion hosted by Keir Starmer and Rachel Reeves at 10 Downing Street. The meeting stemmed from a letter sent by BlackRock executive Anthony Manchester to newly appointed Business and Trade Secretary Jonathan Reynolds in July 2024. The letter began by highlighting BlackRock’s broad range of clientele and the scale of their footprint across the breadth of the UK economy, name dropping British Airways, Rolls Royce and AstraZeneca as investments. It continued:
- “As you know, we also share the Government’s view that infrastructure investment can play a critical role in improving economic growth and productivity. We believe infrastructure is poised to become one of the fastest-growing segments in private markets globally. As our Chairman and CEO Larry Fink has recently written, private capital market financing, combined with policy pragmatism, are necessary to meet countries’ infrastructure needs and thereby enhance economic growth and productivity.
- “We would welcome the opportunity to meet with you to discuss our work on funding the projects and enterprises that drive the economy and building the UK’s case as an investment destination. We will work with your team to get this meeting in the diary."
Cutting through the corporate glaze, BlackRock is highlighting that Labour’s entire political project rests on the willingness of companies like BlackRock to plough private capital into the foundational components of our society (and extracting massive profits in the process).[1]
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| WEF/Annual Meeting/2014 | 22 January 2014 | 25 January 2014 | World Economic Forum Switzerland | 2604 guests in Davos considered "Reshaping The World" |
| WEF/Annual Meeting/2016 | 20 January 2016 | 23 January 2016 | World Economic Forum Switzerland | Attended by over 2500 people, both leaders and followers, who were explained how the Fourth Industrial Revolution would changed everything, including being a "revolution of values". |
References
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