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☆ BlackRock is wrestling with who could succeed Larry Fink. Here's who's now in the running.
▼ + stars: | 2023-05-12 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

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.

☆ Don't let the patriotic talk fool you. Here are 5 ways JPMorgan stands to win from buying First Republic Bank.
▼ + stars: | 2023-05-01 | by ( Emmalyse Brownstein | Carter Johnson | ) www.businessinsider.com time to read: +8 min

JPMorgan on Monday morning emerged as the white-knight buyer of First Republic Bank. More wealth advisors for high-net-worth clientsJPMorgan's wealth management ambitions will also get a boost from its purchase of First Republic. The smaller bank has about 150 high-end advisors who will join JPMorgan's brokerage business unit, JPMorgan Advisors. "If they can retain the wealth advisors and not lose too many more, I think it will be very advantageous. "This helps bring the bank crisis phase to the home stretch in our view," wrote Wells Fargo's Mayo.

☆ Larry Fink has a new chief of staff, an under-the-radar position that's become a powerful post at BlackRock
▼ + stars: | 2023-02-14 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

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.

☆ Boomers have more wealth ‘than any other generation,’ but millennials may not inherit as much as they hope
▼ + stars: | 2022-12-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

On the cusp of the greatest generational wealth transfer in history, baby boomers are set to pass more than $68 trillion on to their children. "It's a generation that has accumulated a greater percentage of wealth than any other generation ever has," said Mark Mirsberger, a certified public accountant and CEO of Dana Investment Advisors, referring to boomers. Studies show a growing disconnect between how much millennials expect to inherit in the "great wealth transfer" and how much aging boomers plan on leaving them. But 55% of baby boomers who plan to leave behind an inheritance said they will pass on less than $250,000. Tack on inflation, geopolitical uncertainty and fears of a recession, and boomers suddenly may be feeling less secure about their financial standing — and less generous when it comes to giving money away.

☆ Wall Street's biggest investors can't shake a nightmare about the US economy. And that fear is much worse than a recession.
▼ + stars: | 2022-09-18 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

Talk of a recession, rough inflation data, and the persistent increase in costs of certain staple goods has got Wall Street's biggest investors living in fear of an economic nightmare. Wall Street has been hit by a brutal market sell-off this year. Wall Street investors fear an economic nightmare. BMO Capital Markets is cutting jobs amid the broader downturn in dealmaking, according to Bloomberg. Private-equity investment firm Corsair has made an investment in Miracle Mile Advisors, a wealth advisory firm based in Los Angeles.

☆ Inside BlackRock's powerful consulting arm that's made the most influential money manager an advisor to world powers
▼ + stars: | 2021-06-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +21 min

One of the reporters noted that Powell's public calendar showed calls with Larry Fink, BlackRock's chief executive, in March, April, and May. The exchange was hardly the first time no-bid contracts between the Fed and BlackRock's Financial Markets Advisory unit raised questions. Still, former employees told Insider that FMA has served as a clear source of public-facing clout for BlackRock. "The FMA clients have extended their advisory relationships to be multiyear." A little over a year ago, FMA pulled employees out of BlackRock's office there, three former employees said.

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