If you haven’t noticed, BlackRock — yes, that BlackRock — is going unwoke. It’s also going far from broke, On The Money has learned.Wednesday before the bell, the big-money management firm, the world largest in fact, will report both its fourth quarter earnings and those for the entire year.Both are likely to depict that its business is running at full tilt, my sources on Wall Street tell me.Confluence doesn’t necessarily equate concurrence, of course. But it’s remarkably obvious that at a time when BlackRo ...

Executive Departure - Mark Wiedman, a top BlackRock executive and potential successor to CEO Larry Fink, is leaving the firm to pursue opportunities outside [1][3][6] - Wiedman will stay through the spring to assist with the transition [1] - His departure comes a day before BlackRock's Q4 earnings report [7] Wiedman's Background - Wiedman has been with BlackRock for two decades, joining from the US Treasury Department [2] - He played a key role in the growth of BlackRock's ETF business, iShares, and helped establish the firm's consulting arm, FMA [2] CEO Succession - Rob Goldstein, BlackRock's COO, is also considered a potential successor to Fink [4] - Other candidates include CFO Martin Small and Asia-Pacific head Rachel Lord [4] BlackRock's Growth Strategy - CEO Larry Fink has been focused on expanding BlackRock's presence in private markets [5] - In 2024, BlackRock announced three major acquisitions, including the purchase of HPS Investment Partners, a private credit firm managing $148 billion [5] - Fink has been more vocal about growth plans than succession planning [7]

BlackRock's Growth and Leadership - Mark Wiedman played a key role in driving BlackRock's growth in passive investing, with assets under management increasing from $500 billion to $1.7 trillion from 2011 to 2019 [1] - Wiedman joined BlackRock in 2004 and led the firm's emergency assistance efforts during the financial crisis [1] - Wiedman, a senior executive with over 20 years at BlackRock, is leaving the company after serving as head of the global client business for the past two years [3] BlackRock's Market Position and Acquisitions - BlackRock is the world's largest asset manager, with a record $11.5 trillion in assets under management in Q4 [2] - The company made two major acquisitions in 2023 to expand in private credit and alternatives: HPS Investment Partners for $12 billion and Global Infrastructure Partners for $12.5 billion [2] Leadership Transition - Wiedman was considered a potential successor to CEO Larry Fink [3]

Bayo Ogunlesi, Chairman, Global Infrastructure Partners listens as US President Donald Trump speaks during a strategic and policy discussion with CEOs in the State Department Library in the Eisenhower Executive Office Building on April 11, 2017 in Washington, DC.OpenAI said Tuesday that Adebayo Ogunlesi, a senior managing director at BlackRock, is joining the startup's board of directors, the latest announcement in the company's move toward a for-profit structure.Ogunlesi is a founding partner of Global Inf ...

BlackRock (BLK) is slated to report fourth-quarter and full-year 2024 results tomorrow before the opening bell. Its quarterly revenues and earnings are expected to have improved year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BLK’s third-quarter 2024 earnings surpassed the Zacks Consensus Estimate. Results benefited from a rise in revenues and non-operating income, partially offset by higher expenses. Further, the company’s assets under management (AUM) touched $11.5 ...

On Wednesday morning, BlackRock, Inc. ( NYSE: BLK ) will report its Q4 and FY 2024 earnings on a trading day that will probably be volatile. This is not only because money center banks such as JPMorgan Chase & Co. (Hey there! My focus here is to provide you with insightful rating analysis on the world's leading financial firms to help you navigate and comprehend the latest investment opportunities while identifying potential pitfalls. My favorite picks are those that are tilted toward both the growth and qu ...

TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, RBC iShares expands access to BlackRock’s digital asset investment platform with the launch of the iShares Bitcoin ETF (IBIT) (the iShares Fund) in Canada. The iShares Fund seeks to reflect generally the performance of the price of bitcoin, before payment of the iShares Fund’s expenses and liabilities. The iShares Bitcoin ETF will also be available in a U.S.-dollar denominated class (IBIT.U). The iShares Fund invests in the U.S.-listed iShares Bitcoin Trust ...

BlackRock and FDIC Dispute - BlackRock missed the Jan 10 deadline set by the FDIC and requested an extension until March 31 to review a proposed pact that could impact its ability to serve clients [1] - The FDIC denied BlackRock's extension request and made additional demands related to the company's decision-making and documents about its bank holdings [1] - BlackRock argues that the FDIC's plans would harm index funds, which dominate many of its investors' portfolios, and increase the cost for banks to raise capital [2] - BlackRock wants the FDIC to coordinate its new oversight with the Federal Reserve, which already has a passivity agreement with BlackRock [2] Regulatory Concerns and Potential Actions - The FDIC could open an investigation into BlackRock and seek more information if the company does not make sufficient progress in resolving the issue by the new Feb 10 deadline [4][5] - Potential actions by the FDIC could include issuing a subpoena and taking other "more compulsory actions" against BlackRock [5] - Rohit Chopra, a member of the FDIC board, praised measures to ensure fund managers like BlackRock and Vanguard are not improperly influencing FDIC-supervised banks [3] - Chopra noted that large companies closely monitor the policy pronouncements of major asset owners, and if these firms are not truly "passive," they may violate longstanding banking statutes [3] BlackRock's Strategy - BlackRock pushed to delay talks until after the new administration takes office later in January [5]

BlackRock and iShares Russell 2000 ETF Overview - BlackRock is the parent company of iShares, which manages $3.3 trillion in assets across more than 1,400 ETFs [1] - The iShares Russell 2000 ETF (IWM) tracks the performance of the Russell 2000 index, which includes approximately 2,000 of the smallest companies listed on U S stock exchanges [4] - The Russell 2000 index has not yet closed above its previous record level from 2021, despite recent highs in major market indexes like the S&P 500 [4] Russell 2000 Composition and Sector Weighting - The Russell 2000 is more balanced compared to the S&P 500, with industrials being the largest sector at 18 9%, followed by healthcare at 17 4%, and financials at 17 2% [5] - The top 10 holdings in the iShares Russell 2000 ETF account for just 4 06% of its total value, with no single stock having a weighting of 1% or more [9] - Companies in the Russell 2000 typically conduct most of their business inside the U S, such as Sprouts Farmers Market, which operates 410 grocery stores across the country [9] Interest Rate Sensitivity and Debt Structure - 38% of the debt held by Russell 2000 companies has a floating interest rate, compared to just 6% for S&P 500 companies, making smaller companies more sensitive to interest rate changes [6] - Falling interest rates and potential further cuts in 2025 could provide significant tailwinds for the Russell 2000, as smaller companies often rely on debt financing for growth [2][10] Potential Catalysts for Russell 2000 Performance - The iShares Russell 2000 ETF delivered a return of 13 1% in 2017, the first year of Trump's previous term, significantly higher than its average annual return of 7 9% since its inception in 2000 [7] - Business-friendly policies from the incoming Trump administration, including potential deregulation and a proposed corporate tax rate of 15% for domestic manufacturers, could benefit small U S companies [3][10] - A gain of 8 9% would be enough for the Russell 2000 to close at a record high, potentially triggering a new bull market [8][11] Outlook for 2025 - With a similar policy agenda to Trump's previous term and potential further interest rate cuts, the iShares Russell 2000 ETF has a strong opportunity to outperform in 2025 [11] - A 13 1% gain in 2025 would be sufficient to propel the Russell 2000 into a new bull market [11]

BlackRock Inc. (BLK) intends to trim its workforce by roughly 1% as part of a strategic restructuring. This was reported by Bloomberg on Wednesday.Rationale Behind BLK’s MoveBlackRock’s decision follows investments of more than $25 billion last year in acquisitions aimed at broadening its expertise in private-market assets and data.The cuts are part of BlackRock’s efforts to realign its resources with its growth strategy. The company expects to accelerate strategic investments in acquisitions in 2025 and bu ...