BlackRock's Fink stays in the news

May 8, 2008 — 6:59am ET

We've become accustomed to reading about Larry Fink, the CEO of asset manager BlackRock, of late. When CEO jobs at Merrill Lynch and Citigroup opened up, he was thought to be a candidate. When the credit crisis escalated, his name reappeared as a kind partner to troubled firms. The most intriguing assignment was BlackRock's deal to manage $30 billion in troubled securities owned by Bear Stearns. The New York Times notes that there's a lot at stake: the Fed and even taxpayers could end up at risk. BlackRock is also advising Florida and managing troubled assets for UBS. So, for big name firms that dodged the bullet, there is opportunity in times like these. The BlackRock stock is up more than 40 percent over the last year.

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