The long-serving Chairman and Chief Executive Officer of the largest multinational investment corporation and the money management firm in the world BlackRock, Inc. Laurence Douglas Fink has come along way after he has been named as one of the World’s Best CEO’s by Barron’s each year since 2005.
Education and early life
Larry Fink was raised in Van Nuys in California. His mother was an English teacher and father owned a shoe store. Fink has completed his Bachelors in Science from the University of California in Los Angeles in 1974. Then, he secured an MBA degree from the UCLA Anderson School of Management in 1976.
Fink’s stint with First Boston
Mr. Larry Fink began his career with a well-known New York-based investment bank First Boston in the year 1976. He was responsible to take charge of First Boston’s bond division. He also became the first mortgage-backed securities traders on Wall Street as he is the one who was instrumental in creating and developing the mortgage-backed security market in the U.S. Fink was also the member of the management committee at First Boston. He was also the Managing Director who co-headed the taxable fixed income division and also started the financial futures and options department. Fink also headed the mortgage and real estate products group. He added as much as $1 billion to First Boston’s bottom line.
As the CEO and Chairman of Blackrock
Mr. Fink co-founded the multinational investment and money management company BlackRock in 1988. Fink became the director and CEO of BlackRock in the same year. After BlackRock was separated from Blackstone in 1994, Fink retained his position as Director and CEO which he continued to hold after BlackRock became a more independent corporate entity in 1998. 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. BlackRock went public in 1999. By 2003, the American financial establishment relied on Larry Fink to an extent that helped to negotiate the resignation of the CEO of the New York Stock Exchange, Richard Grasso, who was being criticized for his $190 million pay package.
Larry Fink is a Trustee of New York University. He is a co-chairman of the NYU Hospitals Center Board of Trustees. Mr. Fink is also the director of Financial Services Roundtable. He is also a Trustee of The Boy’s Club of New York. He was a director of Innovir Laboratories Inc and has held this position since December 1996. Mr. Fink was also the director of VIMRx Pharmaceuticals Inc. Fink was also the Director of New York Stock Exchange, Inc and Chairman of Anthracite Capital Inc. Mr. Larry also serves on the board of trustees of New York University, where he holds various chairmanships including chair of the Financial Affairs Committee. He also co-chairs the NYU Langone Medical Center board of trustees.
full-time and part-time employees to save enough.”
Glance into personal life
Larry Fink’s eldest son Joshua is the CEO of Enso Capital and Fink holds own a stake in that hedge fund. Unlike most other Fortune-500 CEOs, Larry Fink flies on commercial airlines. He takes a train when he spends time at his 26 acre estate in North Salem in New York. Laurence Douglas is married to his wife Lori since the mid-1970s. Apart from homes in Manhattan and North Salem, they have a house in Aspen in Colorado. Fink enjoys fly fishing and skiing and also has a collection of American folk art. Mr. Fink has three children who are also grandparents.
Fink has led Blackrock Advisors through its entire 2 decade history. He has kept client centric solutions and innovations at the forefront of his leadership. Mr. Laurence was named the CEO of the decade by Financial News in 2011. He has also been named one of the World’s Best CEO’s by Barron’s each year since 2005.
What is BlackRock, Inc
BlackRock, Inc is an American multinational investment management company and the world’s largest asset manager. The company serves clients in 60 countries and maintains a presence in North America, Europe, Asia- Pacific, and the Middle East. It has 10,100 employees including over 700 investment professionals world-wide.