Breaking News


BlackRock’s Fink Earned $21.9 Million in 2011 as Pay Fell 8%

BlackRock Inc. (BLK), the world’s biggest money manager, paid Chief Executive Officer Laurence D. Fink $21.9 million in 2011, an 8 percent decrease from the prior year.

Fink received $500,000 in salary, $8.1 million in a cash bonus, $13.1 million in stock awards and $192,250 in other compensation, according to a regulatory filing today that calculated pay using U.S. Securities and Exchange Commission rules. Fink earned $23.8 million in total compensation in 2010, according to the filing.

Fink, 59, oversees $3.51 trillion in assets as head of BlackRock. Richard M. Weil, who directs $148 billion as CEO of Janus Capital Group Inc. (JNS), earned $6.15 million in 2011 compared with $20.3 million the year before, according to a regulatory filing.

The decrease in Fink’s compensation resulted from his bonus declining 20 percent from $10.2 million and other compensation dropping 46 percent from about $359,000 a year earlier. BlackRock President Robert S. Kapito’s compensation fell 7.3 percent to about $17 million, also driven by a reduction in bonus.

BlackRock’s shares fell 6.5 percent last year, compared with a 20 percent decline in the 20-member Standard & Poor’s index of asset managers and custody banks. Net income for New York-based BlackRock in 2011 rose about 13 percent from a year earlier to $2.34 billion. Assets under management fell 1.4 percent in 2011.

To contact the reporter on this story: Alexis Leondis in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.