* Blackrock Solutions unit winning record business
* Fink says leveraged ETFs should be abolished
* Shares down 22 percent over the past year
BOSTON, Dec 8 (Reuters) - BlackRock Inc <BLK.N>, the
world's largest money manager, will report "very strong" earnings
and profit margins for the fourth quarter, Chief Executive Laurence
Fink said on Wednesday.
Fink, speaking at a Goldman Sachs investor conference in New
York, declined to be more specific. Analysts on average expect the
company to earn $2.80 per share in the fourth quarter, according to
Thomson Reuters I/B/E/S.
Shares of BlackRock, which oversees $3.3 trillion, have fallen
22 percent over the past year as the New York-based firm struggled
to integrate its $13.5 billion purchase of Barclays Global
Investors.
BlackRock Solutions, the firm's risk control services unit, is
receiving a record number of inquiries for new assignments, Fink
said. As a result, the unit will be hiring aggressively in Europe,
he said.
Fink, whose firm runs iShares, the largest exchange-traded fund
provider, criticized leveraged ETFs in his talk. Noting that a
competitor had introduced a triple-leveraged ETF, Fink said: "I
think they should just be abolished because I think they will blow
up one day." IShares does not offer leveraged funds. (Reporting
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BLK NEWS ! BlackRock's Fink sees
Posted by admagazu on 8th of Dec 2010 at 05:40 pm
BLK NEWS !
BlackRock's Fink sees "very strong" Q4 profit
5:03 pm ET 12/08/2010- Reuters
* Blackrock Solutions unit winning record business
* Fink says leveraged ETFs should be abolished
* Shares down 22 percent over the past year
BOSTON, Dec 8 (Reuters) - BlackRock Inc <BLK.N>, the world's largest money manager, will report "very strong" earnings and profit margins for the fourth quarter, Chief Executive Laurence Fink said on Wednesday.
Fink, speaking at a Goldman Sachs investor conference in New York, declined to be more specific. Analysts on average expect the company to earn $2.80 per share in the fourth quarter, according to Thomson Reuters I/B/E/S.
Shares of BlackRock, which oversees $3.3 trillion, have fallen 22 percent over the past year as the New York-based firm struggled to integrate its $13.5 billion purchase of Barclays Global Investors.
BlackRock Solutions, the firm's risk control services unit, is receiving a record number of inquiries for new assignments, Fink said. As a result, the unit will be hiring aggressively in Europe, he said.
Fink, whose firm runs iShares, the largest exchange-traded fund provider, criticized leveraged ETFs in his talk. Noting that a competitor had introduced a triple-leveraged ETF, Fink said: "I think they should just be abolished because I think they will blow up one day." IShares does not offer leveraged funds. (Reporting