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As part of the changes, Mark McCombe, another potential Fink successor, takes on a new role as chief client officer to work with global clients, including governments, financial companies and investment consultants that steer money from big clients, such as pension funds. Rob Fairbairn, who is already responsible for some top clients, becomes a vice chairman standard cufflink size mm. Fink, one of BlackRock’s founders in 1988, has neither signaled any intention to leave nor publicly named a successor. He told analysts last year that he thinks the alternative investments business can be a source of major growth for the company..
Asset managers have been squeezed by rising competition and pressure to reduce fees, and in recent months many have been cutting jobs and costs standard cufflink size mm. Even BlackRock, which has benefited by offering low-cost exchange-traded funds, announced layoffs in January. At the time Fink pledged to continue investing in what he sees as growth opportunities. The changes “show our commitment to constant reinvention and to the ongoing development of our senior leaders,” Fink and BlackRock President Rob Kapito wrote in the memo. “They are also designed to reinvigorate our approach at every level of the firm – and with every employee – at a critical time.”..
Other changes announced on Tuesday included naming a new head of its Latin American business and corporate strategy. BlackRock elevated a new chief product officer, Patrick Olson, to a role that had been unfilled standard cufflink size mm. Richard Prager, who runs the company’s trading and its lucrative operations lending out stocks, will retire. And Rick Rieder, a top BlackRock investor and global chief investment officer of fixed income, will be leading a “Global Allocation” team that picks investments across stocks, bonds and commodities..
STUTTGART (Reuters) – Daimler Chief Executive Dieter Zetsche said on Tuesday the debate surrounding the safety of Boeing’s aircraft shows how hard it can be to win public acceptance for autonomous car technology. In the wake of two plane crashes, regulators across the world have grounded the 737 MAX aircraft pending an investigation into whether Boeing’s software-based automated flight control system is safe standard cufflink size mm. “What is very important is the psychological dimension. If you look at what is happening with Boeing then you can imagine what happens when such a system has an incident,” Zetsche said, commenting on the motor industry’s efforts to develop autonomous cars..
Half of U.S. adults think self-driving vehicles are more dangerous than those driven by people, while two-thirds would not buy a fully autonomous vehicle, a Reuters/Ipsos poll found this week. In the same poll, about 63 percent of respondents said they would not pay more to have a self-driving feature on their vehicle, and 41 percent of the rest said they would not pay more than $2,000 standard cufflink size mm. Companies developing self-driving technology have put test fleets on public streets, while Alphabet Inc’s Waymo unit has deployed a small fleet of self-driving vans to provide rides for customers in Arizona..