Chief Executive Officer Laurence D. Fink’s shift to quantitative strategies follows similar moves by hedge funds seeking a high-tech fix to their investment woes. Fink, who has re-jiggered his stock picking unit several times in recent years, now sees computer models and data science as the future of active-equity management. His move is driven by clients who are flocking to cheaper index-tracking exchange-traded funds, which benefits BlackRock’s ETF business while hurting its active managers.

https://www.bloomberg.com/news/articles/2017-03-28/blackrock-said-to-cut-jobs-fees-in-revamp-of-active-equity-unit?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&utm_medium=email&utm_source=newsletter&utm_term=170329&utm_campaign=moneystuff