Investing
BlackRock’s Fink Raises Salaries 8% While He Eyes Inflation
- Asset manager lifts employee pay for directors and lower
- Money manager saw $81 billion in net inflows in second quarter
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BlackRock Inc. Chief Executive Officer Larry Fink says he sees the highest U.S. inflation in recent memory as more than a transient phenomenon. He backed up that view with a blanket raise for employees.
The world’s largest asset manager will increase the base salaries of all staff at the director level and below by 8%, starting in September, according to a memo he and the firm’s president Rob Kapito issued Wednesday, coinciding with the company’s second-quarter earnings release.