The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Asset Management Titan Trims Bonuses Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 02, 2017

An Asset Management Titan Trims Bonuses

News summary by MFWire's editors

Larry Fink's giant asset manager has trimmed bonuses for its employees.

Larry Fink
Chairman and CEO
For 2016 New York City-based BlackRock [profile] reduced annual employee bonuses by two to four percent on average, Sabrina Willmer of Bloomberg reports, citing an unnamed source. The news service notes that publicly-traded BlackRock, the world's largest asset manager, last made such a cut in bonuses in 2011. In 2015, Bloomberg points out, BlackRock held bonuses flat.

A BlackRock spokesman declined to comment for the Bloomberg story.

News of BlackRock's bonuses cuts comes a day after another huge asset manager, privately-held Fidelity, unveiled a first-of-its-kind-for-Fidelity buyout offer to employees who are at least 55 years old and have at least 10 years of service with Fidelity, about 3,000 employees in total (about 6.7 percent of Fidelity's 45,000 employees worldwide). News of the Fido buyout offer broke on Monday. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use