Yahoo Finance Live reports on Bluebell Capital's latest activist investor stake in BlackRock.
(Bloomberg) -- Bluebell Capital Partners is calling on BlackRock Inc. to replace Chief Executive Officer Larry Fink over what it says are his failures to move the world’s largest money manager beyond investments in fossil fuels.Most Read from BloombergTrump Companies Are Convicted in NY Criminal Tax Fraud Trial‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernWorld Economy Heads for One of Its Worst Years in Three DecadesEx-Deutsche Bank Trader Builds $6 Billion Fortune on T
NEW YORK (Reuters) -BlackRock Inc Chief Financial Officer Gary Shedlin on Tuesday said his firm is freezing most hiring and reducing expenses. "We're trying to be a little more prudent," he said during a financial conference hosted by Goldman Sachs, adding that these measures will put BlackRock in a better position next year. BlackRock also said there were some short-term performance challenges and it needed to think about resetting expenses relative to revenues.