BlackRock pays CEO $27.7M amid biggest inflows in firm history

BlackRock awarded CEO Larry Fink a $27.7 million pay package last year as the firm’s assets under management surpassed $6 trillion, driven by investors continuing to move money into passively managed funds.

Larry Fink CEO of BlackRock Bloomberg Television interview April 2017
Larry Fink, chief executive officer of BlackRock Inc., speaks during a Bloomberg Television interview in New York, U.S., on Wednesday, April 19, 2017. Fink said there are indications that the U.S. economy is slowing as businesses weigh whether the Trump administration will be able to pass tax reform and an infrastructure program quickly. Photographer: Christopher Goodney/Bloomberg

The compensation included a $900,000 salary, $10 million cash bonus and $16.6 million of equity awards, according to a regulatory filing Friday. Fink, 65, also got about $243,000 in other compensation.

BlackRock’s assets soared as the firm reported the biggest inflows in its history. Performance improved in its active business, which includes hedge funds, while total expenses rose in part due to an increase of employee compensation and benefits. The firm’s stock rose 35%, outpacing the 19% gain in the S&P 500.

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Compensation Industry salaries Bonuses and incentives Passively managed products Fund performance Stocks Hedge funds Larry Fink BlackRock S&P Money Management Executive
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