Laurence Fink is in the middle of everything these days. He was rumored as CEO candidates for both Merrill Lynch and Citigroup (though it looks like neither may pan out). And now, the New York Times reports, his firm is apparently on the verge of being selected as the asset manager for the bailout fund that Bank of America, Citigroup and JP Morgan Chase are structuring. As manager, the firm will apply its risk prowess to manage the securities sold into the fund's portfolio. BlackRock has famously steered clear of the credit mess and is known for risk management skill. I'm not sure what the fee structure will be like, but you can bet they are not working free.  

For more:
- here's the New York Times article

Related articles:
- What's next for Merrill Lynch?
- Who will become CEO of Citigroup?

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