NEW YORK: BlackRock Inc, the world's largest asset manager, cut total compensation for chairman and chief executive officer Larry Fink by 4.3per cent in 2018, according to a filing on Friday.
Fink was awarded US$26.5 million in compensation last year, compared to US$27.7 million in 2017, based on a calculation of his pay in line with U.S. Securities and Exchange Commission guidelines.
Going by a set of calculations BlackRock prefers, Fink's total compensation for the year fell by 14per cent to US$24 million. The figures differ because BlackRock reports some incentive pay in a different year.
(This story has been refilled to delete extraneous "percent" in headline)
(Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)