Unless part of the original BlackRock team, everyone that has started from a transition/merger or joined later, does not get a look into the senior positions
New York centric management team and small firm mentality, it's run by the original founding members, the whole global reporting line, business functions and power sharing is split between the founding members.
Power base in NY, if not in NY, then not really a decision maker
Risk takers and lack of planning means approach is not ideal and things are duplicated or manual solutions put in place
Not leading edge use of technology, more archaic and cheap (vendors are chosen as they are cheap or aggressively negotiated down)
Firm's reputation is built around the front office, with middle and back office treated badly and paid below par
Aladdin technology and the MD's that run BlackRock solutions are over protective of their proprietary software/system. Negative feedback is frowned upon and career limiting.
Aggressive management with big egos to stroke in NY
Redundancy pay is just above statutory (cheap)
Stock price linked to Larry Fink (who knows what will happen if he stops buying companies and tries to grow the business organically or retire) - key person risk
No downward delegation of decision making due to a lack of trust (run the same way as when it was formed in the 80's)
Lack of investment in people or facilities - cheap company to work for (rewards to the front office to maintain reputations and keep star fund manager's - everyone else is discounted to support this culture)
It's not what you know but who you know
