Entries tagged "Larry Fink"
With BlackRock's purchase of Barclay's investment unit for $13.5 billion, the firm will become the world's largest money manager.
In his column Tuesday, The Wall Street Journal's Dennis Berman launched a guessing game into who might lead Morgan Stanley after chief executive John Mack (pictured) retires, probably in 2010. The leading candidates, according to Berman: co-presidents Walid Chammah and James Gorman, with chief financial officer Colm Kelleher and investment banking chief Paul Taubman as dark horses. Whoever takes the job will oversee a different bank from the one Mack inherited in 2005; Morgan Stanley, like rival Goldman Sachs Group Inc., became a bank holding company in September. What that means going forward is still unclear, which drives some of...
Merrill Lynch & Co.'s war chest of assets may become a rainy-day fund, with the investment bank dipping into it if the ongoing credit crunch continues to crimp earnings. If media reports are to be believed, Merrill not only may cash out its 20% stake in Bloomberg LP, but also its 49% stake in asset manager BlackRock Inc., according to CNBC and The Wall Street Journal....
