Wednesday, May 25, 2011

Guess Who’s NO. 1 in Wall Street Pay

Bloomberg reports that it's the Finkster, BlackRock CEO Larry Fink told investors on a conference call in January last year that the world’s biggest money manager was “very well positioned” for 2010. At the end of the year, the market sent a different message: New York-based BlackRock’s total share return was negative 16 percent, while the Standard and Poor’s 500 Asset Management and Custody Bank Index rose 13 percent.

BlackRock’s disappointing stock performance followed its best year since 2000, with total return soaring 77 percent in 2009.

Even as Fink, 58, struggled to deliver shareholder value, he received $23.8 million in salary and stock. That made him No. 1 in the Finance 50, Bloomberg Markets magazine’s annual ranking of the best-paid CEOs at the largest U.S.-based financial companies by market capitalization. The ranking appears in the July issue of Bloomberg Markets....

There's more at:
http://www.bloomberg.com/news/2011-05-25/fink-no-1-in-wall-street-pay-as-blackrock-stock-sinks-16-on-ishares-deal.html

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