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May 13 (Reuters) - BlackRock Inc (BLK.N) Chief Executive Officer Larry Fink has been preparing five key leaders to take his role whenever he decides to step down in the future, the Wall Street Journal reported on Saturday.
Though Fink has no imminent plans to retire, he along with President Robert Kapito has been training these candidates for "The Great Race" - to choose the successor - in what Fink calls is the "No.
Fink told the newspaper he hoped to build camaraderie among the five, and not competition, so they will keep working together.
BlackRock said it plans no major changes to the way it engages with companies.
Reporting by Baranjot Kaur in Bengaluru; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
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.
Investment giant BlackRock has been planning for CEO Larry Fink's succession for years.
Leadership has discussed BlackRock cofounder Susan Wagner as someone who could succeed Fink if the board does not have a clear candidate.
For years, BlackRock has been planning for Chief Executive Larry Fink's succession, a torch-passing the industry has long speculated over.
BlackRock has become shorthand for the intense backlash from primarily Republican lawmakers over sustainable investment strategies that Fink has championed as CEO.
Goldstein, 49, is a BlackRock lifer and has been chief operating officer for nearly a decade.
NEW YORK, Jan 11 (Reuters) - BlackRock's iShares exchange traded funds (ETFs) gained more net flows than Vanguard's ETFs last year, according to estimates from industry tracker Morningstar, putting the world's biggest asset manager in the lead for the first time since 2019.
Despite the yearly declines, net flows into ETFs, both globally and in the United States, were the second-highest ever last year, with BlackRock's iShares regaining the top position.
Estimated net flows into BlackRock's global iShares ETFs amounted to about $220 billion last year against nearly $214 billion in estimated net flows into Vanguard's ETFs, according to Morningstar data.
Net flows into Vanguard's ETFs had been higher in the prior two years.
"For many investors, ETFs remained the vehicle of choice for low-cost, broadly diversified exposure to the stock and bond markets."
Nov 21 (Reuters) - Investors are increasingly eyeing U.S. corporate credit offering attractive valuations and yields after steep declines in 2022, fund managers told the Reuters Global Markets Forum (GMF).
"We are at the beginning of a rotation as investors come back into credit.
iShares iBoxx Investment Grade Corporate Bond ETF (LQD.P) and iShares High Yield Corporate Bond ETF (HYG.P) are on track for quarterly gains of more than 3% in the fourth quarter after falling 20% and 14% respectively this year.
"If we're at this turning point then the entry level you get by buying investment-grade credit in the (United) States looks really attractive."
The jump in bond yields, which move inversely to prices, has also made corporate credit more attractive to investors looking for income after years of low interest rates, Ramji said.
TOKYO, Nov 17 (Reuters) - Chip stocks took a beating on Thursday, sending most Asian share indexes lower, after grim signals from Micron Technology overnight about excess inventories and sluggish demand.
Meanwhile, the U.S. dollar rebounded after stronger-than-expected U.S. retail sales suggested the Federal Reserve was unlikely to ease up in its battle with inflation.
Hong Kong's Hang Seng Index (.HSI) tumbled 2.1%, with its tech stocks (.HSTECH) slipping more than 4%.
Japan's Nikkei (.N225) lost 0.3% and South Korea's Kospi (.KS11) dropped 1.1%, each led by declines in heavyweight chip players.
The U.S. dollar index - which measures the currency against six major counterparts - added 0.13% to 106.41, stabilizing after a slide as low as 105.30 on Tuesday following the release of producer price inflation numbers.
Meanwhile, the U.S. dollar rebounded after stronger-than-expected U.S. retail sales suggested the Federal Reserve was unlikely to ease up in its battle with inflation.
That fuelled concerns about the economic outlook, with the U.S. Treasury yield curve remaining deeply inverted in Tokyo trading and suggesting that investors are braced for recession.
Hong Kong's Hang Seng Index (.HSI) tumbled 2.7%, with its tech stocks (.HSTECH) slipping more than 5%.
Japan's Nikkei (.N225) lost 0.4% and South Korea's Kospi (.KS11) dropped 1.1%, each led by declines in heavyweight chip players.
The U.S. dollar index - which measures the currency against six major counterparts - added 0.28% to 106.57, rebounding from a slide as low as 105.30 on Tuesday following the release of producer price inflation numbers.
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