BlackRock’s succession dilemma

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The story "BlackRock’s succession dilemma" was covered 11 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 11h ago

BlackRock’s succession dilemma - Financial Times

Quick Summary:

In this fascinating Big Read, my colleague Brooke Masters in New York explores how for more than a decade 71-year-old Fink has been walking a tightrope between showing no sign of wanting to let go of the firm he helped found 36 years ago, while insisting that he has succession planning well in hand to replace himself and Rob Kapito.

Fink and Ralph Schlosstein, the firm’s first president, took larger shares as the senior executives, but the other six insisted on having equal stakes and the same remuneration for the first three years to ensure collegiality.

Big investors, including BlackRock and Allianz, are positioning themselves for “a turning of the tide” for London’s unloved stock market, hoping that an improving economy, lower interest rates and political stability will finally boost cheap British shares.