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Larry Fink Sends a Message: Flout BlackRock Rulebook at Your Own Risk

  • Mark Wiseman didn’t report consensual relationship at work
  • ‘I regret my mistake and I accept responsibility,’ he says
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BlackRock Vice Chairman Philipp Hildebrand discusses the importance of company culture.Source: Bloomberg
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BlackRock Inc. fired a top official over a consensual affair, the firm’s second high-profile dismissal this year over misconduct, as Chief Executive Officer Larry Fink cracks down on the behavior of his senior lieutenants.

Mark Wiseman, global head of active equities and viewed as a potential successor to Fink, was terminated for violating the company’s policy on work relationships, according to a memo that Fink and President Rob Kapito sent to staff on Thursday. Global head of human resources Jeff Smith was dismissed in a similar way in July for breaking company rules.