Laurence Douglas Fink, born in 1952 in Van Nuys, California, built a career in finance that led to the founding of BlackRock. As the head of the firm since 1988, he transformed an initial venture into the largest money-management corporation globally, overseeing assets exceeding US$10 trillion and exerting significant influence over international markets and corporate governance policies.
Early Career and Banking
Fink earned a BA in political science from UCLA in 1974 and an MBA from the UCLA Anderson School of Management in 1976. He began his career at the New York-based investment bank First Boston in 1976. As an early participant in the mortgage-backed securities market, he rose to manage the firm's bond department and directed the Mortgage and Real Estate Products Group. His departure from the bank followed a $100 million loss in his department linked to an interest rate miscalculation, a failure that prompted him to focus on integrating risk management into investment practices.
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Take the IQ test →Founding and Expansion of BlackRock
In 1988, Fink co-founded BlackRock under the Blackstone Group umbrella. The firm gained independence in 1994, and Fink assumed the role of chairman in 1998. BlackRock went public in 1999. Under his leadership, the firm pursued aggressive expansion, including the 2006 merger with Merrill Lynch Investment Managers and the 2009 acquisition of Barclays Global Investors. The firm later became involved in high-profile real estate projects, such as the 2006 purchase of Stuyvesant Town–Peter Cooper Village, which resulted in significant losses for clients when the project defaulted.
Public Policy and Corporate Leadership
Fink maintains close ties with government officials, frequently advising on economic policy and participating in executive forums. In 2016, he served on a business advisory council for president-elect Donald Trump. His annual letters to CEOs have pushed corporations to adopt environmental sustainability goals and social targets. By 2025, his influence was recognized by Time magazine, which named him to the Time 100 list. He holds board positions at New York University and the Robin Hood Foundation, and established the Lori and Laurence Fink Center for Finance & Investments at UCLA.
Fast facts
- Born: 1952, Van Nuys, California
- Education: UCLA, UCLA Anderson School of Management
- Current Position: CEO of BlackRock
- Career Start: First Boston, 1976
- Religion: Judaism
- Membership: Kappa Beta Phi
- Time 100 Honoree: 2025
Questions readers ask
What is the scale of assets managed by BlackRock?
BlackRock is the world's largest money-management firm, with more than US$10 trillion in assets under management.
Did Fink hold government roles?
He has not held a formal government position but has served as an economic advisor to presidents and maintains frequent contact with treasury officials.
Achievements
- Affiliated with BlackRock and First Boston
- Educated at University of California, Los Angeles and UCLA Anderson School of Management
- Worked as politician, manager and economist
