Blackrock May Never Bring 100% of Staff to Office After Coronavirus

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Login Watch TV BLACKROCK · Published 23 hours ago BlackRock may never bring 100% of staff to office after coronavirus 'I really am worried about this whole idea of culture': Fink By Jonathan Garber FOXBusiness Some bank jobs may work from home indefinitely: Report FOX Business' Charlie Gasparino says banks are telling personnel that nonessential New York City staff could be working from home well into 2021, and UBS brokers have reportedly been alerted they may not return until April 2021. BlackRock Inc. may never fully return to its pre-coronavirus routine after measures to prevent the disease's spread forced employees to work from home, according to CEO Larry Fink. It's unlikely the multitrillion-dollar asset manager's staff will ever be "100% back in oce,” Fink said Thursday at the Morningstar Investment Conference, according to CNBC. “I actually believe maybe 60% or 70%, and maybe that’s a rotation of people.” Stock Symbol BLK Stock Name BLACKROCK INC. Stock Price 558.30 Stock Change +10.24 Change % +1.87% The work-from-home environment doesn’t seem to have had much of an impact on the company’s business as employees were holding meetings via video conferencing ahead of the pandemic. The rm raked in $100 billion of assets during the three months through June, raising its total assets under management to $7.32 trillion. BlackRock is the world’s largest asset manager. Fink, however, is worried about the impact on the company’s culture. Consistently ranked as one of the best places to work, BlackRock reopened its New York oce on July 20, but said employees have the option to work remotely for the rest of the year. “Through technology we’ve been operating really well, really eciently,” Fink said. “But I really am worried about this whole idea of culture. How long can you keep that culture together?” Other nancial services are also attempting to get their in-oce operations back up to speed. JPMorgan Chase & Co. last week told senior traders in New York and London that they must return to the oce by Sept. 21 only to send them home days later after an employee tested positive for COVID-19. GET FOX BUSINESS ON THE GO BY CLICKING HERE Goldman Sachs Group, meanwhile is in the process of implementing a rotational schedule to safely return key employees to the oce. Quotes delayed at least 15 minutes. Real-time quotes provided by BATS BZX Real-Time Price. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rewritten, or redistributed. ©2020 FOX News Network, LLC. All rights reserved. FAQ - Updated Privacy Policy.

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The Global Financial Crisis and Proposed Regulatory Reform Randall D
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Brigham Young University Law School BYU Law Review Volume 2010 | Issue 2 Article 9 5-1-2010 The Global Financial Crisis and Proposed Regulatory Reform Randall D. Guynn Follow this and additional works at: https://digitalcommons.law.byu.edu/lawreview Part of the Banking and Finance Law Commons Recommended Citation Randall D. Guynn, The Global Financial Crisis and Proposed Regulatory Reform, 2010 BYU L. Rev. 421 (2010). Available at: https://digitalcommons.law.byu.edu/lawreview/vol2010/iss2/9 This Article is brought to you for free and open access by the Brigham Young University Law Review at BYU Law Digital Commons. It has been accepted for inclusion in BYU Law Review by an authorized editor of BYU Law Digital Commons. For more information, please contact [email protected]. DO NOT DELETE 4/26/2010 8:05 PM The Global Financial Crisis and Proposed Regulatory Reform Randall D. Guynn The U.S. real estate bubble that popped in 2007 launched a sort of impersonal chevauchée1 that randomly destroyed trillions of dollars of value for nearly a year. It culminated in a worldwide financial panic during September and October of 2008.2 The most serious recession since the Great Depression followed.3 Central banks and governments throughout the world responded by flooding the markets with money and other liquidity, reducing interest rates, nationalizing or providing extraordinary assistance to major financial institutions, increasing government spending, and taking other creative steps to provide financial assistance to the markets.4 Only recently have markets begun to stabilize, but they remain fragile, like a man balancing on one leg.5 The United States and other governments have responded to the financial crisis by proposing the broadest set of regulatory reforms Partner and Head of the Financial Institutions Group, Davis Polk & Wardwell LLP, New York, New York.
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