shares fell Monday amid the chatter that its chief executive, Larry Fink
, may move on to Merrill Lynch to replace Stan O'Neal
. Shares of BlackRock, the largest publicly traded money manager in the US, dropped from record highs, falling as much as 1.2 percent this morning,
reported. By mid-day, however, the stock was off 0.73 percent at $196.99, according to the report.
BlackRock had been seeing its shares climb to new highs since the company came out with its third-quarter results two weeks ago.
Last Friday, media reports surfaced that Merrill CEO O'Neal's job was in jeopardy, and Fink's name came up as a possible successor. A report in today's Wall Street Journal
called Fink "a top contender" to succeed O'Neal, citing people familiar with Merrill Lynch.
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