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Finance and Markets
  + stars: | 2023-08-17 | by ( Brian P. Brooks | Charles W. Calomiris | Salim Ramji | ) www.wsj.com   time to read: 1 min
InvestingThe market’s best guess at the real, after-inflation, cost of money is back within the range of what once counted as normal. America has put the era of low rates behind it. Can it cope?
Locations: America
FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo(Reuters) - The world’s top asset manager BlackRock said it will offer proxy voting choices to U.S. retail investors of its biggest exchange-traded fund, expanding a strategy that could blunt criticism of how the firm considers environmental, social and governance (ESG) matters. Investors will not be able to specify votes in specific company elections. While many clients will rely on the votes BlackRock will continue to cast, “consistent with our fiduciary duty as an investment manager, others want the choice to participate in proxy voting more directly,” said Joud Abdel Majeid, Global Head of BlackRock Investment Stewardship, in a statement. Rivals including State Street and Vanguard have their own programs to devolve proxy voting rights.
Persons: Carlo Allegri, BlackRock, Glass, , Joud Abdel Majeid Organizations: REUTERS, BlackRock, New, Services, Glass Lewis, managements, Investment, Rivals, State, Vanguard, Republican Locations: BlackRock, Manhattan, New York City , New York, U.S, New York, Republican U.S
Insider built an org chart showing the most senior executives under BlackRock CEO Larry Fink. To provide a window into the current power structure, Insider has mapped out the roughly 150 most senior BlackRock executives. This week, the firm overhauled its alternative-investments business and made changes to the makeup of its Aladdin business, two core BlackRock offerings. "We are spending a great deal of time at BlackRock getting the firm ready for when the founders are retiring. Investment stewardship head Joud Abdel Majeid and Willie Alford, Fink's new chief of staff, are among the executives who report to Fink.
BlackRock CEO Larry Fink has named executive Willie Alford as his new chief of staff. Sarah Schaffer, an executive and Fink's prior chief of staff, will take on a new role at BlackRock. This may be especially true if you worked directly with Larry Fink, the firm's chief executive and among the most powerful people on Wall Street. Fink's chief of staff position has vaulted executives into new heights. A more common C-suite roleThe chief of staff role has taken off across corporations and beyond the position's roots in government and military operations.
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