Barclays Global Investors
 |
|
| Public | |
| Traded as | |
| Industry | Investment management |
| Founded | 1988 |
| Headquarters | 40 East 52nd Street New York, NY 10022 U.S. |
|
Area served
|
Worldwide |
|
Key people
|
Larry Fink (Chairman and CEO) Robert Kapito (President) |
| Products | Asset management |
| Revenue |
 US$10.50 billion (2013)
|
|
US$2.932 billion (2013)
|
|
| AUM |
US$5.1 trillion (2016)
|
| Total assets |
US$219.87 billion (2013)
|
| Total equity |
US$26.46 billion (2013)
|
|
Number of employees
|
12,000 |
| Subsidiaries | BlackRock Institutional Trust Company, N.A. BlackRock Fund Advisors BlackRock Group Ltd |
| Website | BlackRock |
BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager with $5.1 trillion in assets under management.
BlackRock operates globally with 22 investment centers, 70 offices in 30 countries and clients in 100 countries. Due to its power, Blackrock has been called the world's largest shadow bank.
BlackRock was founded in 1988 by Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, and Keith Anderson to provide institutional clients with asset management services from a risk management perspective.
Fink, Kapito, Golub and Novick had worked together at First Boston, where Fink and his team were pioneers in the mortgage-backed securities market in the United States. During Fink's tenure, he had lost $100 Million as head of First Boston. That experience was the motivation to develop what he and the others considered to be excellent risk management and fiduciary.
Initially, Fink sought funding (for initial operating capital) from Pete Peterson of the The Blackstone Group L.P. who believed in Fink's vision of a firm devoted to risk management. Peterson called it Blackstone Financial Management.
In 1992, due to internal confusion, the decision was made to change their name from Blackstone Financial Management to BlackRock. In 1995, Blackstone Group's Stephen A. Schwarzman and Fink had an internal dispute over equity. Fink wanted to share equity with his employees. Schwarzman did not. They agreed to part ways, so the BlackRock partners, (Sue Wagner) orchestrated a deal with PNC Financial Services Group.
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Wikipedia