Fink says BlackRock is shifting toward higher-fee business

09/13/2011 | Bloomberg · Reuters

BlackRock CEO Laurence D. Fink said the asset manager has "ample opportunities" to increase private equity, active stock picking and other activities that charge higher fees. "We're improving our mix shift toward higher-fee businesses," Mr. Fink said. He also noted that financial-market volatility is hitting the asset-management industry. "This [volatility] is not a good short-term trend for the asset-management business," Mr. Fink said.

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