Larry Fink has taken BlackRock from eight executives in a single room in 1988 to running more than $5 trillion in clients' money, more than any asset manager on Earth — even more than Vanguard.
Fink has successfully navigated an asset-management industry landscape where most companies have been hemorrhaging assets, and talk of an existential crisis for active managers is not hyperbole. In the past year, index funds have seen inflows of more than $665 billion, while active funds have suffered more than $300 billion in outflows, according to Morningstar.
But holding big stakes in thousands of businesses outside asset management has focused Fink on what managers across many industries are doing right and where they can improve.
Here are some of the key tenets of Fink's management gospel.