BlackRock, Inc. (BLK) Presents at Bank of America Financial Services Conference 2026 Transcript

SA Transcripts158.27K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call BlackRock, Inc. (BLK) Bank of America Financial Services Conference 2026 February 10, 2026 11:20 AM EST Company Participants Martin Small - Senior MD, CFO & Global Head of Corporate Strategy Conference Call Participants Craig Siegenthaler - BofA Securities, Research Division Presentation Craig SiegenthalerBofA Securities, Research Division Welcome to Bank of America's 34th Annual Financial Services Conference. This is Craig Siegenthaler, North American Head of Diversified Financials at BofA. And it's my pleasure to introduce Martin Small. Martin is the CFO of BlackRock and serves as the Global Head of Corporate Strategy. He's also a member of BlackRock's Global Executive Committee. Martin, first, thank you for joining us here in Miami. Martin SmallSenior MD, CFO & Global Head of Corporate Strategy Thanks, Craig. Great to be here with everybody. Hope everyone is having an excellent day. Craig SiegenthalerBofA Securities, Research Division All right. So a quick background on BlackRock. I know you all know it, biggest asset manager in the world, over $14 trillion of AUM. More importantly, it's a leader, a first mover and scaled in all the major secular growth businesses, ETFs, technology and data, retirement solutions and private markets. Question-and-Answer Session Craig SiegenthalerBofA Securities, Research Division With that, let's get started on that record 12% base fee organic growth that you ended 2025 with. So seasonality and cycle may have helped a little bit, but for the full year, it was 9%, so a really strong number, well above market expectations 12 months ago. What were the key drivers of that acceleration over the past couple of years? And do you think it's sustainable? Martin SmallSenior MD, CFO & Global Head of Corporate Strategy We've seen really excellent momentum in organic base fee growth at BlackRock. It's been geared around the firm's long-term strategy of