BlackRock Gets Record Client Cash, Revamps Leadership Team
Published On Jan 15, 2025, 10:49 AM
BlackRock reported an impressive record of attracting $641 billion in client cash for 2024, with significant inflows into both its ETF business and various fund types amidst a competitive market. CEO Larry Fink emphasized growth opportunities following recent acquisitions aimed at expanding BlackRock’s footprint in alternative assets. Furthermore, Fink announced a management shakeup to enhance client engagement, particularly among large institutional clients. With reduced share prices at the beginning of 2025 due to market conditions, BlackRock's long-term growth prospects remain strong. The firm aims to lead in both public and private credit markets.
Stock Forecasts
BLK
Positive
BlackRock is positioned for sustained growth, particularly in alternative assets, which could contribute to asset inflows and overall revenue. Its strong client acquisition and recent strategic acquisitions significantly bolster its market position.
Related News
9 questions we want answered when our 3 financial names report earnings Wednesday
Jan 14, 2025, 3:23 PM
Wells Fargo, Goldman Sachs and BlackRock will all post Q4 results before the bell.
Mark Wiedman, a top BlackRock exec thought to be Fink's successor, is leaving the company
Jan 14, 2025, 2:59 PM
Wiedman, head of the global client business, was instrumental in driving BlackRock's growth in passive investing.
BlackRock is trying to avoid the hot seat as GOP takes power
Jan 14, 2025, 4:00 AM
The world’s biggest money manager is trying to avoid some political headaches as Donald Trump and the GOP take over all of Washington.