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  • February 2015
  • Case
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BlackRock: Diversity as a Driver for Success

By: Boris Groysberg and Katherine Connolly
  • Format:Print
  • | Language:English
  • | Pages:36
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Abstract

In July 2014, the Global Executive Committee (GEC) for BlackRock, the world's largest asset manager, held a two-day offsite to discuss the state of talent within the firm. A year prior, in 2013, Chairman and CEO Laurence (Larry) Fink had asked Global Head of HR Jeff Smith to outline to the GEC the firm's Diversity and Inclusion efforts, benchmarking its progress against eight practices associated with building more inclusive cultures. At the July 2014 off-site, Smith and Kara Helander, Global Head of Philanthropy and Diversity and Inclusion (D&I), provided a summary of the firm's journey to date and an update on its progress. The message from Fink at the July meeting was clear: the firm needed to do more. This message was also reinforced by the Board who wanted to see an increase in diversity in succession plans and leadership ranks. Smith and his team needed to work with the GEC to lead the change. They needed to decide: What needed to be done next? What were the key areas that needed the most improvement? What were the greatest challenges and opportunities facing the firm, and how could D&I initiatives help address them? What actions needed to be taken to meet the request from Fink and the Board?

Keywords

Women And Leadership; Diversity; General Management; Leadership; Change Management; Human Capital; Leading Change; Management Practices and Processes; Organizational Culture; Financial Services Industry; United States

Citation

Groysberg, Boris, and Katherine Connolly. "BlackRock: Diversity as a Driver for Success." Harvard Business School Case 415-047, February 2015.
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About The Author

Boris Groysberg

Organizational Behavior
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Related Work

    • June 2018
    • Faculty Research

    BlackRock: Diversity as a Driver for Success

    By: Boris Groysberg, Katherine Connolly and Aldo Sesia
Related Work
  • BlackRock: Diversity as a Driver for Success By: Boris Groysberg, Katherine Connolly and Aldo Sesia
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