Bloomberg News

BlackRock Won’t Chase ‘Unattractive’ Business to Bolster Assets

October 17, 2012

BlackRock Inc. (BLK:US) Chief Executive Officer Laurence D. Fink said his firm won’t chase “unattractive” or low-fee business to bolster assets under management.

BlackRock said today in a statement announcing third- quarter earnings that a single institutional investor pulled more than $72 billion from a fixed-income portfolio, after the firm didn’t want to rebid for the business at lower fees.

To contact the editor responsible for this story: Sree Vidya Bhaktavatsalam at

Hollywood Goes YouTube

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • BLK
    (BlackRock Inc)
    • $328.82 USD
    • -1.71
    • -0.52%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus