BlackRock has 18 members on its board of directors, they are as shown below:
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Founded in 1988, BlackRock (BLK +5.94%) is a relatively new investment company. But it's become responsible for keeping tabs on more than $10 trillion in wealth, making it the world's largest asset manager. Let's explore more about this investment giant, including its history, owners, managers, and outlook.
For a company that manages more than $10 trillion in assets -- equivalent to roughly 34% of the total GDP of the United States -- BlackRock has kept a relatively low public profile. The New York-based company was founded in 1988 to manage risk and fixed-income assets. Since then, it's diversified to become one of the largest managers of index funds, managing the iShares group of exchange-traded funds (ETFs).
BlackRock, which has offered shares to the public since its 1999 IPO, is mostly owned by institutional investors, including the Vanguard Group, State Street Corp. (STT +0.87%), Bank of America (BAC +1.16%), and Temasek Holdings, a Singapore state-owned conglomerate. The largest investors include:
Company | Number of shares | % of total shares | Worth (in billions) |
|---|---|---|---|
Vanguard | 13.9M | 9.04% | 15.5 |
BlackRock | 10.1M | 6.53% | 11.2 |
State Street | 6.3M | 4.05% | 6.9 |
Temasek | 5.1M | 3.29% | 5.6 |
Bank of America | 4.8M | 3.12% | 5.3 |
Name | Title |
|---|---|
Laurence Fink | CEO of BlackRock |
Pamela Daley | Former Senior VP of Corporate Business Development for GE |
Gregory Fleming | President and CEO of Rockefeller Capital |
William Ford | Chairman and CEO of Gneeral Atlantic |
Fabrizo Freda | Former President and CEO of the Estée Lauder Companies |
Murry Gerber | Former Chairman and CEO of EQT Corporation |
Margaret "Peggy" Johnson | CEO of Agility Robotics |
Robert Kaptio | President of BlackRock |
Cheryl Mills | Founder and CEO of BlackIvy Group |
Kathleen Murphy | Former President of Personal Investing at Fidelity |
Amin Nasser | President and CEO of the Saudi Arabian Oil Company |
Gordon Nixon | Former President and CEO of Royal Bank of Canada |
Adebayo "Bayo" Ogunlesi | Chairman and CEo of Global Infrastruture Partners |
Kristin Peck | CEO of Zoetis, Inc |
Charles Robbins | Chairman and CEO of Cisco Systems |
Hans Vestberg | Chairman and CEO of Verizon |
Susan Wagner | Former Vice Chairman of BlackRock |
Mark Wilson | CEO of Reinsurance Intelligence Quotient |
BlackRock may be the biggest asset manager on the block, but that doesn't always guarantee success. Although it was the first firm to record $10 trillion in assets under management, it's also posted the record for the most client money lost by a firm over a six-month period. As the market staggered in 2022, the company reported losing $1.7 trillion in assets. In addition, it's been whipsawed by criticism from both sides for its commitment to ESG investing and its role in financing climate change acceleration.
Keep in mind that if you invest in BlackRock, you're not investing in a company with $10 trillion in assets -- you're investing in a company that manages $10 trillion in assets. Although its role as one of the world's preeminent ETF managers may be extremely attractive, you should treat BlackRock like any other individual stock, as a long-term, buy-and-hold investment that's only part of a diversified portfolio.
