BlackRock CEO: BlackRock’s momentum continues to build

Laurence Fink, Chairman and CEO: “BlackRock’s momentum continues to build, with accelerating client activity and line of sight into the funding of significant wealth, institutional, and Aladdin mandates. Organic asset and base fee growth accelerated into the end of the quarter, and first quarter long-term net inflows of $76 billion already represent nearly 40% of full year 2023 levels. Clients are turning to BlackRock to unlock the full potential of their portfolios, reflected in industry-leading total net inflows of $236 billion over the last twelve months. We continue to deliver sustained asset and technology services growth at scale, with a double-digit increase in technology services revenue, 180 basis points of margin expansion and 24% growth in EPS year-over-year, as adjusted. Being a growth company requires our continual innovation, investment, and client focus. BlackRock has stayed connected with our clients and invested in our platform over years, in anticipation of clients’ evolving needs. Through this connectivity, we are having richer conversations with clients than ever before about their whole portfolio and in many cases deepening our relationships with them. With markets full of complexity and opportunity, clients are increasingly coming to BlackRock for insights and advice. We see significant growth potential in infrastructure, technology, retirement and whole portfolio solutions, with a strong pipeline that has some of the best breadth that we’ve ever seen. We will continue to stay in front of client needs to deliver long-term growth for our clients, shareholders and employees.”