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Inside BlackRock's black box

Inside BlackRock's black box

The world’s most powerful risk management system threatens to become a liability for its owner.

Larry Fink, visiting Sydney yesterday, has said he wants a third of BlackRock revenue to come from technology by 2022. 

Richard Henderson and Owen Walker
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New York/London | As toxic mortgage-backed securities tore through the financial system more than a decade ago, the US government turned to Larry Fink, one of their earliest pioneers, for help.

Mr Fink made a fortune packaging mortgages together and selling off slices of the combined pools in the 1980s before founding BlackRock, which today stands as the world’s largest asset manager.

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Original URL: https://www.afr.com/companies/financial-services/does-blackrock-s-aladdin-have-too-many-under-its-spell-20200226-p544ex