BlackRock: The Largest Money Manager Shaping Next-Generation Leadership and Seeking Deals

BlackRock, the world’s largest money manager, is overseeing $9.1 trillion in assets and has amassed enormous power through its many funds and high-profile CEO Larry Fink. BlackRock has gained mainstream attention, particularly for its passive investment strategies and vocal support of environmental, social, and governance (ESG) investing. The firm is shaping the future of leadership while defending itself against intense scrutiny over its ESG investing strategies. BlackRock is also on the hunt for deals to help reach its goal of doubling the revenue generated by its private markets business. The firm has made personnel changes and appointments in the past year to prepare for the transition to the next generation of leaders. While the firm has faced criticism for its approach to ESG investing, it has reiterated that it works as a fiduciary in the best interest of its clients. Additionally, BlackRock is experimenting with artificial intelligence and has established a team to work on the technology. The firm is also pushing to launch the first spot bitcoin exchange-traded fund in the US. BlackRock’s large reach includes management of assets for clients across a variety of industries, as well as the provision of powerful portfolio management software called Aladdin, used by many on Wall Street.