BlackRock cut CEO Larry Fink's pay by 4.3per cent in 2018: filing

BlackRock cut CEO Larry Fink's pay by 4.3per cent in 2018: filing

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.

FILE PHOTO:  Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Busin
FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon Stapleton/File Photo

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)

Source: Reuters

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