BlackRock's Larry Fink, who oversees $10 trillion, says Russia-Ukraine war is ending globalization

PUBLISHED THU, MAR 24 2022 8:01 AM EDT

UPDATED THU, MAR 24 2022 8:48 PM EDT

Yun Li

@YUNLI626

Larry Fink, CEO and chairman of the world's biggest asset manager, BlackRock, said Russia's invasion of Ukraine is reversing the long-running trend of globalization.

"I believe this has exacerbated the polarization and extremist behavior we are seeing across society today," Fink said in his 2022 letter to shareholders.

Fink, whose firm oversees more than $10 trillion, said BlackRock has suspended the purchase of any Russian securities in its active or index portfolios.

https://www.cnbc.com/2022/03/24/blackrocks-larry-fink-who-oversees-10-trillion-says-russia-ukraine-war-is-ending-globalization.html