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BlackRock Makes Shareholder Push

Money manager plans to use influence to encourage investor-friendly practices.

By Christopher Condon and Sree Vidya Bhaktavatsalam, Bloomberg News | Updated on January 19, 2012

BlackRock Inc., the world’s biggest money manager, is looking to leverage its $3.3 trillion of client assets by embarking on an unprecedented campaign to urge corporations to adopt shareholder-friendly practices.

Laurence D. Fink, BlackRock’s chief executive officer, said in a letter yesterday to 600 of its biggest holdings, including Apple Inc., Coca-Cola Co., BNP Paribas SA and Deutsche Telekom AG, that his firm “seeks to engage in dialogue” with management to address issues that will be raised this year at shareholder meetings.

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