adminBlackRock, Inc. (BLK) Bank of America Financial Services Conference 2026 February 10, 2026 11:20 AM EST
Company Participants
Martin Small – Senior MD, CFO & Global Head of Corporate Strategy
Conference Call Participants
Craig Siegenthaler – BofA Securities, Research Division
Presentation
Craig Siegenthaler
BofA Securities, Research Division
Welcome to Bank of America’s 34th Annual Financial Services Conference. This is Craig Siegenthaler, North American Head of Diversified Financials at BofA. And it’s my pleasure to introduce Martin Small. Martin is the CFO of BlackRock and serves as the Global Head of Corporate Strategy. He’s also a member of BlackRock’s Global Executive Committee. Martin, first, thank you for joining us here in Miami.
Martin Small
Senior MD, CFO & Global Head of Corporate Strategy
Thanks, Craig. Great to be here with everybody. Hope everyone is having an excellent day.
Craig Siegenthaler
BofA Securities, Research Division
All right. So a quick background on BlackRock. I know you all know it, biggest asset manager in the world, over $14 trillion of AUM. More importantly, it’s a leader, a first mover and scaled in all the major secular growth businesses, ETFs, technology and data, retirement solutions and private markets.
Question-and-Answer Session
Craig Siegenthaler
BofA Securities, Research Division
With that, let’s get started on that record 12% base fee organic growth that you ended 2025 with. So seasonality and cycle may have helped a little bit, but for the full year, it was 9%, so a really strong number, well above market expectations 12 months ago. What were the key drivers of that acceleration over the past couple of years? And do you think it’s sustainable?
Martin Small
Senior MD, CFO & Global Head of Corporate Strategy
We’ve seen really excellent momentum in organic base fee growth at BlackRock. It’s been geared around the firm’s long-term strategy of
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