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Laurence D. Fink (born November 2, 1952) is the chairman and chief executive officer of BlackRock. Popularly known as Larry, he started his career at First Boston upon graduating from the University of California, Los Angelesmarker. Larry earned an MBA at the UCLAmarker Anderson School of Management (then known simply as the UCLA Graduate School of Management) in 1976. After moving on to heading First Boston's bond department, Fink was instrumental in the creation and development of the mortgage-backed security market in the United Statesmarker.

In 1989, Fink and some friends went out on their own to found BlackRock, an investment management firm which today manages in excess of $2.7 trillion. He was considered as a top candidate to replace departing Morgan Stanley CEO, Philip Purcell. The talk fell through, however, and shortly thereafter a deal was unveiled in which Merrill Lynch would merge its money management business under BlackRock. On June 11, 2009 BlackRock purchased Barclays' investment management arm, Barclays Global Investors, creating a firm managing nearly $2.7 trillion in assets.

Fink also serves on the board of trustees of New York Universitymarker. He has three children; the eldest, Joshua, serves as CEO of Enso Capital Management. This younger Fink earned a BA in political science from the University of Pennsylvania in 2000.

Fink, chairman and chief executive officer of BlackRock, is chairman of the Executive and Leadership Committees, chair of Corporate Council, and co-chair of the Global Client committee.

Prior to founding BlackRock in 1988, Fink was a member of the management committee and a managing director at First Boston. Fink joined First Boston in 1976 and quickly became one of the first mortgage-backed securities traders on Wall Street. During his tenure at First Boston, Fink was co-head of the taxable fixed income division, which was responsible for trading and distribution of all government, mortgage and corporate securities. Fink also started the financial futures and options department and headed the mortgage and real estate products group. In November 1987, Fink was featured in Investment Dealers' Digest as head of the mortgage-related securities group of "the ultimate brokerage firm". In 1989, he was featured in the Wall Street Journal centennial edition as one of 28 businessmen, all under 45 years old, "...who could be among the business leaders of tomorrow."

Fink serves as a member of the board of trustees of New York University (NYU), chair of the Financial Affairs Committee and a member of the Executive Committee, the ad hoc committee on Board Governance, and the Committee on Trustees. He is also co-chairman of the NYU Hospitals Center Board of Trustees, chairman of the Development/Trustee Stewardship Committee and chairman of the Finance Committee. Fink is also a trustee of the Boys' Club of New York.

Fink earned an MBA with a concentration in real estate from the UCLA in 1976 and a BA in political science also from UCLA in 1974.

References

  1. http://online.wsj.com/article/SB124571548123139201.html



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