Larry Fink is the Chairman and Chief Executive Officer of BlackRock.
Larry Fink grew up in a middle-class family in Los Angeles on November 2, 1952. His mother was an English professor and his father owned a shoe store. After completing high school he earned a Bachelor of Arts degree in Political Science from UCLA in 1974. And then earned an MBA (Master of Business Administration) in Real Estate at the UCLA Anderson Graduate School of Management in 1976. Before he founded BlackRock in 1988, Larry Fink was a trader (traded Mortgage backed securities) in New York City for The First Boston Corporation. The opportunity arose for Larry to join First Boston as a Mortgage backed security trader because of his background in real estate finance. After much success he managed the firm’s bond department and was a member of the management committee, a managing director, and co-head of the Taxable Fixed Income Division; he also started the Financial Futures and Options Department, and headed the Mortgage and Real Estate Products Group.
The biggest event in Larry’s history that changed his life began in 1986, when his department lost $100 million due to incorrect predictions on interest rates. Larry was fired from First Boston and started BlackRock two years later with seven partners. The idea of the firm was to create something unique, emphasizing risk management [i.e., assessing possible faulty risks and preparing actions to minimize those risks]. Larry with the help of others created a unique firm with no interest in politics, focusing on the needs of clients.
Philanthropy: Serves as a member of the Board of Trustees of New York University (NYU) and the World Economic Forum, and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. In addition, he serves on the boards of the Museum of Modern Art, the board of Robinhood foundation and the board of Nature Conservancy, the Council on Foreign Relations and the International Rescue Committee. He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City.
-Larry Fink: Impact and Significance
-Philanthropy: Foundation
-More about his path: BlackRock
-Risk Management: Rethinking risk, Alternative investments, Private Markets
-Profile: LinkedIn
Books
#BlackRock, #RiskManagement, #Alternativeinvestment, #WallStreet, #Longtermthinking
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