Economics
BlackRock Gains Clout in Washington as Biden Builds His Team
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One has been tapped to head the U.S. National Economic Council, the other as No. 2 at the Treasury Department. And both have one big thing in common: BlackRock Inc.
As President-elect Joe Biden assembles his economic team, his choice of two men who’ve worked in BlackRock’s senior ranks -- Brian Deese for NEC and Adewale Adeyemo as deputy Treasury secretary -- cements the giant investment firm’s position as one of Wall Street’s major gateways to the corridors of power in Washington. Deese oversees sustainable investing at BlackRock, while Adeyemo is a former senior adviser and interim chief of staff to Chief Executive Larry Fink.