BlackRock said it would concentrate “downward adjustments to total incentive awards toward senior management” to reflect the firm’s profitability decline.
BlackRock reduced chief executive officer Larry Fink’s total compensation to $US25.2 million for 2022, a 30 per cent decline from the previous year, according to a regulatory filing.
“With respect to 2022 compensation, management determined to reduce the impact of the firm’s decline in profitability on BlackRock’s broader employee population by concentrating the downward adjustments to total incentive awards toward senior management,” the company said in the filing.
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