Larry Fink named interim co-chair of World Economic Forum ahead of Davos

Larry Fink, the chairman and C.E.O. of BlackRock, has taken on the role of interim co-chair of the World Economic Forum’s board and is being described as a de facto mayor of Davos as the annual meeting in Davos, Switzerland, approaches. The change follows the resignation of W.E.F.

founder Klaus Schwab last April amid an internal investigation into the forum’s workplace culture; the board later cleared Schwab of wrongdoing and appointed new leadership in August. Fink is serving alongside Roche’s André Hoffmann as interim co-chair. Fink has used his influence to reshape the event’s agenda and guest list.

The forum says “a record 400 top political leaders, including close to 65 heads of state and government — with six G7 leaders expected — nearly 850 of the world’s top C.E.O.s and chairs, and almost 100 leading unicorns and technology pioneers will convene in Davos-Klosters.” By many accounts Fink helped secure President Trump’s attendance; he has also attracted figures such as Nvidia’s Jensen Huang, whom he plans to interview, and persuaded Citadel founder Ken Griffin to return after a 15-year absence.

He has pushed several corporate leaders to appear on public stages, including Jamie Dimon and Satya Nadella, who will be in conversation with Fink. Much of Fink’s clout is tied to BlackRock’s size—its assets under management are said to be $14 trillion—and the firm’s status as a major shareholder in many public companies.

Key Topics

Business, Larry Fink, Blackrock, World Economic Forum, Davos, Jensen Huang