BlackRock CEO Fink gets $13 million bonus

BlackRock Inc, the world's biggest money manager, awarded Chairman and Chief Executive Laurence Fink a 2010 bonus of USD 13 million in restricted stock.

February 02, 2011 / 09:26 IST

BlackRock Inc, the world's biggest money manager, awarded Chairman and Chief Executive Laurence Fink a 2010 bonus of USD 13 million in restricted stock.

The award, in two tranches totaling 64,743 shares, was made at BlackRock's January 27 average share price of USD 200.41, the New York-based firm said in a filing with the Securities and Exchange Commission on Monday. The filing did not disclose Fink's salary or other compensation for 2010.

The USD 13 million bonus puts Fink, whose firm oversees USD 3.6 trillion, in the same league with Goldman Sachs Chief Executive Lloyd Blankfein, who received USD 12.6 million of restricted stock for 2010.

Shares of BlackRock lost 18% in 2010 as the firm saw outflows after acquiring Barclays Global Investors. Net income more than doubled to USD 2.1 billion.

first published: Feb 2, 2011 08:26 am

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