Larry Fink discusses the emerging role of tech at BlackRock. The CEO believes that its tech platforms (Aladdin, iCapital, FutureAdvisor, and others) could generate up to 30% of its revenue 5 years from now.
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Larry Fink Q&A: “I Don’t Identify as Powerful”
ES Technology generates how much of your revenue now? LF Seven percent. ES Where will it be 10 years from now? LF Let’s say five years from now. This is a reach, a giant reach, but if we do our job right, 30 percent of our revenue could be from that platform. ES That’s between Aladdin in its various forms, FutureAdvisor, iCapital, and whatever else you buy? LF Yes, I’m spending a great deal of time on that right now. I’m looking at acquisitions. ES Do your competitors appreciate this? LF If they used Aladdin, they’d certainly appreciate it. Some of our asset management competitors are using Aladdin.
