Posted on Apr 8, 2021 8:51 AMUpdated Apr 8, 2021, 8:55 AM
Preaching the good word begins at home. “Just as we ask other companies, we have a long-term strategy to improve diversity, equity and inclusion at BlackRock,” writes the CEO of the world’s number one asset management company, Larry Fink, in his annual letter to shareholders. The words come weeks after accusations of discrimination and harassment have been leveled against the group by some of its employees.
“I know our culture is not perfect. […] Some employees did not meet BlackRock’s standards ”, he admits before asserting that measures have been taken internally. “Our strategy includes: reducing biases in our recruitment and talent management practices; providing opportunities for professional development, mentoring and executive coaching; raising awareness of [diversité, d’équité et d’inclusion] ; and redefining behavioral expectations across the company. ” The group also called on the law firm Paul, Weiss, Rifkind to improve its internal procedures.