Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New YorkBlackRock CEO Larry Fink said in a talk Thursday morning at Morningstar's digital conference that he was overly optimistic in years past at "how fast" BlackRock could become more diverse.
In the eight months that have passed since the letter was sent out, the world has changed, as the novel coronavirus has killed millions globally and police killings of Black Americans sparked worldwide movements, which have pressured companies to increase diversity in their ranksDuring a talk Thursday morning at Morningstar's digital conference, Fink admitted his company still had a ways to go on diversity — and said he wouldn't be pressing other companies on the matter before he could...
"We need to do more, we need to do much more," Fink said, though he did note that more than 30% of the firm's 16-person board is female. The firm currently has women making up 29% of senior leadership. PIMCO wants to create its own version of BlackRock's Aladdin. Read the memo the bond giant just sent laying out its approach.
One thing the Boykin is focused on is the pipeline of talent that will make up the next generation of BlackRock's senior leadership team, which is made up of directors and managing directors. The last four years, Boykin said, intern classes and the asset manager's analyst training program have been 50% female.
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