‘We don’t talk about inclusion’ and that’s a problem, says BlackRock’s Larry Fink

Tuesday, January 30, 2018

One of the biggest issues on Larry Fink‘s mind these days is financial inclusion, he told a panel audience at the World Economic Forum in Davos, Switzerland.

“I think the question isn’t the financial system but the inclusiveness of the financial system, and we don’t talk about that at all,” the BlackRock CEO lamented during a panel entitled “Remaking the Future of Global Finance” moderated by CNBC.

“This is the greatest financial activity since the financial crisis, and we’ve seen a three-times increase in equity markets over the last 10 years,” Fink said, referring to the record highs seen in the major U.S. stock indexes.

But the fundamental problem, he stressed, was that while those who own equities have done “fantastically well,” including himself, “it has not been so impactful for so many people.”

Photo courtesy of reynermedia.

Source: CNBC (link opens in a new window)

financial inclusion, poverty alleviation