BlackRock chief executive Larry Fink says he sees the highest US 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 per cent, starting in September, according to a memo he and the firm’s president, Rob Kapito, issued on Wednesday, coinciding with the company’s second-quarter earnings release.
