The Key to Managing $4 Trillion at BlackRock
(Bloomberg Opinion) -- How do you track trillions of dollars in indexes and exchange-traded funds accurately and precisely? That is one part of the financial engineering challenges facing Senior Managing Director , head of index and ETF investing. His division manages more than $4 trillion of Blackrock’s in excess of $7 trillion in assets. He is also a member of the firm’s global executive committee.
Ramji recalls how as a senior partner at McKinsey & Co. leading the firm’s asset and wealth management practice, he turned down a job offer from BlackRock Chairman and Chief Executive Officer Larry Fink. This led to an amusing anecdote about the back and forth that soon followed that “idiotic” decision. Not long after, Ramji rethought his decision and joined BlackRock as global head of corporate strategy, and then went on to run the firm’s U.S. wealth advisory business.
We also discuss fee wars, the rise of ETFs, ESG, factor investing, active ETFs and why a Bitcoin ETF is unlikely to occur anytime soon - at least at BlackRock.
A list of his favorite books; A transcript of our conversation is .
You can stream and download our full conversation, including the podcast extras on, , , , , and . All of our earlier podcasts on your favorite pod hosts can be .
Be sure to check out our Contrafund. Over 30 years of running Contra, Danoff has outperformed the S&P 500 Index by 3.21 percentage points a year.next week with ‘s Will Danoff, who manages the firm’s storied
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Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”
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