BlackRock Hires Trump’s SEC Investment Management Chief
BlackRock said it has hired Dalia Blass, a Securities and Exchange Commission veteran who most recently led the Division of Investment Management under the Trump administration. There, she was the public’s top regulator over 13,000 SEC-registered advisors managing more than $84 trillion in investments and retirement funds.
Beginning June 7, the Egyptian-born Blass, 48, will join the BlackRock executive committee. She will also lead external affairs and oversee the global public-policy group, corporate sustainability, and a new group that will research stakeholder capitalism. Blass will report to BlackRock CEO Larry Fink.
https://www.barrons.com/articles/blackrock-hires-trumps-sec-investment-management-chief-51620915275
Then, Remember this?
The world’s largest asset manager won’t be making a mint off the Federal Reserve.
BlackRock, the firm hired by the Fed this week to help manage the purchase of billions of dollars worth of bonds, will earn relatively modest fees for its work, according to a contract posted Friday.
The firm, which manages nearly $7 trillion in assets, will earn no more than $7.75 million per year for the main bond portfolio it will manage. It will also be prohibited from earning fees on the sale of bond-backed exchange traded funds, a segment of the market it dominates.
https://www.nytimes.com/2020/03/27/business/coronavirus-blackrock-federal-reserve.html