Chairman and Chief Executive OfficerBlackRock Inc.
"...one of the great trends that has been muting the global economies can become a big opportunity for firms like BlackRock and that is the enormous amount of cash that's sitting on corporations' balance sheets. In the US it's $1.7 trillion."
"Currently, the tensions in the global situation, whether it's the Euro markets and its problems, or the growth issues around China are creating great volatility and great uncertainty. However, if you're sitting with your pool of money in cash, that is a negative outcome too. There's a huge cost in keeping your money in cash or for the short term."
"Even this year we changed our entire firm architecture to be more adapted to our clients, to be more adapted to the situation and importantly, to finalise our evolution from a founders' culture firm to a global, hopefully entrepreneurial firm."
"So we are as aggressive as any firm I know in building leadership for tomorrow, making sure we're adapting for a better future and being just as responsive to our client needs as we were when we were a 10-person firm."
"As a leader and as an employee, if you don't stay current, if you don't stay involved and if you're not a student every day, you're going to become slowly but surely disconnected from your job, your business and ultimately you'll hurt the firm."
As part of PwC's 16th Annual Global CEO Survey, we spoke with Larry Fink, Chairman and Chief Executive Officer of BlackRock Inc. In this short video, Larry shares his views on dealing with uncertainty in the global economy and the importance of adaptability.