Larry Fink at BlackRock: Linking Purpose to Profit

09/20/22 • 30 min

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In 2014, Larry Fink started writing letters to the leaders of some of the largest publicly listed companies, urging them to consider the importance of environmental, social, and governance (ESG) issues.

Fink is the chairman and CEO of BlackRock, one of the largest asset management houses in the world. The firm’s success was rooted in its cost-effective, passive investment products that rely on tracking indices and funds. But Fink wanted his firm to engage with the companies in which they invest and hold them accountable for their social and environmental impacts.

What role should investors play in urging business leaders to take ESG issues more seriously and enforcing compliance? Harvard Business School professor George Serafeim discusses the merits of Fink’s approach, the importance of corporate investments in ESG themes, and how to lead a company driven by purpose and profit in his case, “BlackRock: Linking Purpose to Profit,” and his new book Purpose and Profit: How Business Can Lift Up The World.

Previous Episode

Reinventing an Iconic Independent Bookstore

In 2020, Kwame Spearman (MBA 2011) made the career-shifting decision to leave a New York City-based consulting job to return to his hometown of Denver, Colorado, and take over an iconic independent bookstore, The Tattered Cover.

Spearman saw an opportunity to reinvent the local business to build a sense of community after the pandemic. But he also had to find a way to meet the big challenges facing independent booksellers amid technological change and shifting business models.

Harvard Business School associate professor Ryan Raffaelli joins Spearman to discuss his vision for reinventing The Tattered Cover, as well as larger insights around how local businesses can successfully compete with online and big box retailers in the case, “Kwame Spearman at Tattered Cover: Reinventing Brick-and-Mortar Retail.“

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Corporate Governance and Growth Strategy at Capital SAFI

Jorge Quintanilla Nielsen started the independent asset management firm Capital SAFI in 2007. Now a leader in Bolivia’s closed-end funds industry, with a total of $430 million in assets under management, Quintanilla planned to expand into other countries, like Peru and Colombia. He knew that governance would be one of the main aspects potential partners would evaluate.

Capital SAFI’s board had evolved over time with the establishment of a governance committee, an assessment process for the board, professional development offerings for board members, tools to manage governance risk, and succession plans for board members and company executives. Would local and foreign investors be impressed by those measures or were additional improvements needed?

Harvard Business School professor V. G. Narayanan discusses the importance of corporate governance in his case, “Building the Governance to Take Capital SAFI to the Next Level.”

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