The Next Generation and Social Media s Role in Financial Advice morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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When drama breaks out at the world s largest asset managers, big clients have to make tough choices.
A group of quiet but powerful advisors helps decide what to do when controversies arise.
Often they advise doing nothing but as calls for equity grow, there is more pressure to act.
If a fund manager winds up in the news for the wrong reasons, institutional investors must decide whether to stand pat, put the manager in a penalty box, or fire them altogether.
Behind the scenes, a quiet but hugely influential group often holds sway over how these investors who collectively control some $70 trillion in investable assets on behalf of retired teachers and firefighters, university endowments, charities, hospitals, and more react.
BlackRock launches probe following harassment allegations Lachlan Maddock 12 April 2021
The asset management juggernaut has turned its gaze inward following allegations of impropriety and harassment within its executive ranks.
In his annual shareholder letter, BlackRock chief executive Larry Fink acknowledged allegations of harassment and discrimination within the asset manager’s ranks and said that it would work to build a “supportive, welcoming, inclusive and equitable work environment”.
“I know our culture is not perfect…in some cases, certain employees have not upheld BlackRock’s standards. I have made it clear to employees that we want to know when that happens, and those individuals don’t have a place at BlackRock,” Mr Fink wrote.