NEW YORK, Oct. 2, 2012 /PRNewswire-USNewswire/ -- Laurence D. "Larry" Fink, 60, chairman, CEO and founder of BlackRock, a leader in investment and risk management, has been elected to serve on Robin Hood's board of directors. He joins other board members, including Paul Tudor Jones, chairman and CEO of Tudor Investment Corporation; Marian Wright Edelman, president of the Children's Defense Fund; and Geoffrey Immelt, chairman and CEO of General Electric.
"Larry's unrivaled expertise in navigating complex business challenges and his dedication to helping New Yorkers make him a perfect fit for Robin Hood," said Robin Hood Board Chairman Lee S. Ainslie, III, managing partner of Maverick Capital Management, LLC. "Poverty has proven to be an intractable opponent and his ability to tackle tough issues combined with his well-earned reputation as a straight-shooter will greatly benefit New Yorkers in need."
A graduate of UCLA's Anderson School of Management, Mr. Fink is co-chair of the board of New York University's Langone Medical Center. He also serves on the board of New York University where he is the chair of the financial affairs committee, as well as the boards of The Museum of Modern Art and the Partnership for New York City.
"All of us have a responsibility to help others in our community, and Robin Hood's support for innovative approaches provides an exceptional model for tackling the barriers to lifting New Yorkers out of poverty and into a better quality of life," said Mr. Fink. "I look forward to contributing to the outstanding work in venture philanthropy done by the Robin Hood board and staff."
"Larry and his wife Lori have long been friends of Robin Hood," said David Saltzman, executive director of Robin Hood. "In 2011 he served as co-chair of our annual benefit and in the process helped raise nearly $50 million for New Yorkers in need; we are thrilled to add him to our board of directors."
Mr. Fink co-founded BlackRock in 1988 and has led the firm through its entire history. Founded on the core belief that its clients' needs are of paramount importance, BlackRock has grown into a global leader in investment management, risk management and advisory services for institutional and retail clients worldwide. Today, the firm has more than $3.5 trillion in assets under management.
Robin Hood is New York City's largest poverty-fighting organization, which provides annual grants to more than 200 of the best food pantries, job training programs, charter and public schools, shelters, and veterans' programs throughout New York's five boroughs and is the largest private funder of emergency food programs and housing programs in New York City. Over the past year, Robin Hood donors have generously contributed more than $13 million to create the Robin Hood Veterans Fund, which has made more than $5 million in grants to 19 different programs, connecting veterans and their families to essential services throughout New York City.
About Robin Hood
Since 1988, Robin Hood has held steadfast to a single mission: fight poverty in New York City. We find, fund and create programs and schools that generate meaningful results for families in New York's poorest neighborhoods. We work closely with more than 200 organizations to help them reach their full potential and perform rigorous assessments to ensure accountability. In addition, Robin Hood's board of directors pays all administrative, fundraising and evaluation costs, so 100% of every donation goes directly to organizations helping New Yorkers in need.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock's AUM was $3.560 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange-traded funds) and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2012, the firm has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
Patty Smith, Robin Hood
SOURCE Robin Hood