Blackrock boss earns $25.8m, bank makes hedgie mortgage mistake

Gold Dollar

What do yer Fink of that ?!

BlackRock CEO Laurence D. Fink earned $25.8m last year, an increase of 8% from 2014.

Bloomberg News reports that Fink received a $900,000 salary, a bonus of $8.72m, stock awards of $16m and $193,000 in other compensation, according to a filing Friday by the investment firm. Using BlackRock’s own accounting measure, which differs from the calculation under U.S. Securities and Exchange Commission rules, said Fink’s total compensation was flat last year.

Fink, 63, built BlackRock into the world’s largest asset manager, with about $4.6tril under management. BlackRock’s stock fell 4.8% last year, compared with a 12% decrease for the 19-company Standard & Poor’s index of asset managers and custody banks.

In the meantime, Bank of America accidentally gave a Wall Street hedge-funder a break on his mortgage, according to Manhattan Supreme Court records.

The New York Post reports that short seller James Chanos has an $18m loan from Bank of America for his Upper East Side penthouse, but a paperwork error caused the bank to declare the mortgage satisfied in 2011.

The satisfaction of mortgage on the East 75th Street property was “entirely the result of an administrative error,” Bank of America said in court papers, adding that Chanos, 58, kept making his monthly payments.

BlackRock’s Fink Earned $25.8 Million in 2015, Up 8% in Year

Bank mistakenly declared hedgie's $18m mortgage paid



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