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Asset managers failed to build up resilience during upswing, warns Blackrock's Larry Fink

Too few asset managers used the positive past decade to build resilience against industry disruption, warns Blackrock’s chairman in his annual letter. However, he sees an opportunity to accelerate into a more sustainable world when investors rebalance their portfolios after the current corona crisis.

Larry Fink has sent his annual letter to shareholders. | Photo: Shannon Stapleton/Reuters/Ritzau Scanpix

One of the most powerful voices in the asset management industry warns of asset managers lacking resilience against industry disruption.

Larry Fink, chairman of the world's largest asset manager Blackrock, has published his annual letter to shareholders. In the letter he criticizes asset managers for investing too little in innovation, and says the consequences are now being seen in the industry.

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