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Wednesday, January 6, 2021

Fink Sticks With Gotham

News summary by MFWire's editors

The largest (by AUM) asset manager in the world is standing by the city of its birth.

Laurence D. "Larry" Fink
Chairman, CEO
Larry Fink and his team at BlackRock [profile] still plan to move into a new headquarters in Manhattan's Hudson Yards neighborhood in late 2022 or early 2023, a company spokesperson reportedly told Bloomberg. BlackRock has been based in New York City since launching within Blackstone in 1988, and its Hudson Yards move first came to light four years ago.

Bloomberg contrasts the BlackRock plan with that of other Wall Street firms considering exits from the Big Apple, a trend that has become more noticeable during the ongoing COVID-19 pandemic.

On that note, the publication also confirms that, while working from home continues at BlackRock, it will not be a long-term, full-time option for most team members.

"The office will remain our primary work location longer-term," Rob Goldstein, BlackRock's chief operating officer, reportedly wrote in a November memo. "Employees will have increased flexibility to work remotely part-time, but full-time remote work will be done very selectively and with approval."  

Edited by: Neil Anderson, Managing Editor

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