BlackRock’s Fink No. 1 in Wall Street Pay as Stock Sinks 16% - Bloomberg Article Features Tim White, Managing Partner and Private Wealth Management Recruiter at Kaye/Bassman International

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BlackRock’s Fink No. 1 in Wall Street Pay as Stock Sinks 16% - Bloomberg Article Features Tim White, Managing Partner and Private Wealth Management Recruiter at Kaye/Bassman International

Dallas, Texas, 6/3/2011: Tim White, managing partner and senior search consultant with Kaye/Bassman's private wealth management recruiting and search is featured in Bloomberg article.

BlackRock Inc. (BLK) Chief Executive Officer Larry Fink told investors on a conference call in January last year that the world’s biggest money manager was “very well positioned” for 2010. At the end of the year, the market sent a different message: New York-based BlackRock’s total share return was negative 16 percent, while the Standard and Poor’s 500 Asset Management and Custody Bank Index rose 13 percent.

BlackRock’s disappointing stock performance followed its best year since 2000, with total return soaring 77 percent in 2009.

Even as Fink, 58, struggled to deliver shareholder value, he received $23.8 million in salary and stock. That made him No. 1 in the Finance 50, Bloomberg Markets magazine’s annual ranking of the best-paid CEOs at the largest U.S.-based financial companies by market capitalization. The ranking appears in the July issue of Bloomberg Markets.

Prudential Financial Inc. (PRU)’s John Strangfeld is No. 2 in the ranking, with total pay of $22.6 million, according to data compiled by Bloomberg. Insurer AON Corp. (AON)’s Gregory Case is No. 3, at $20.8 million.

Fink got a 50 percent raise over his 2009 compensation. And he wasn’t the only top financial executive to see a big jump in his pay. Average compensation for Finance 50 CEOs who held the same job in 2009 rose 26 percent to $11.5 million in 2010 after falling for two years.

Withering Criticism

Average compensation was down 21 percent to $9 million in 2009 and 19 percent to $11.4 million in 2008, according to data compiled by Bloomberg.

The big pay raise marks an end to a period when financial executives and their boards retreated in the face of withering criticism from Congress, shareholders and the media, says Tim White of Kaye/Bassman International Corp., a Dallas-based executive search firm.

“Most shareholders and most taxpayers have short me- mories,” White says. “The public perception of executive compensation is different today than it was two or three years ago, simply because the investing climate has changed and we’re not in a world of panic or bailouts anymore.”

Read the full story.

About Kaye/Bassman
Founded in 1981, Kaye/Bassman has grown to become the largest single-site executive search and recruitment firm in the United States with the simple mission of impacting companies and enhancing careers by providing the finest in professional, executive, technical and scientific search. Kaye/Bassman provides strategic recruiting and executive search solutions in over 20 industry practice areas including construction recruiting, healthcare recruiting, banking executive search, energy recruitment and many more.  Next Level Recruiting Training, a recruiting training organization, Next Level Exchange, a recruiting training best practices information exchange, and Next Level Marketing Communications are also Kaye/Bassman companies.

For additional information or a sample copy, contact:
Darren McDougal
Kaye/Bassman International
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Source: http://www.bloomberg.com/news/2011-05-25/fink-no-1-in-wall-street-pay-as-blackrock-stock-sinks-16-on-ishares-deal.html