BlackRock Inc , the world's largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 8.4per cent in ...
BlackRock Inc , the world's largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 8.4per cent in 2019, a second straight year of decline, according to a filing on Thursday.
Fink was awarded US$24.3 million in compensation last year, compared with US$26.5 million in 2018, based on a calculation of his pay in line with U.S. Securities and Exchange Commission guidelines.Going by a set of calculations BlackRock prefers, Fink's total compensation for the year rose 5per cent to US$25.25 million. The figures differ because BlackRock reports some incentive pay in a different year.
BlackRock's stock rose 28per cent in price during 2019, its best performance since 2017, as global financial markets rebounded from a sharp selloff at the end of 2018. That compares with a 23.5per cent rise for a Thomson Reuters index that includes more than a dozen of BlackRock's industry rivals in the United States .
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