BlackRock Inc (NYSE:BLK) Q4 2014 Earnings Conference Call - Preliminary Transcript

Jan 15, 2015 • 08:00 am ET

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BlackRock Inc (NYSE:BLK) Q4 2014 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good morning. My name is Jennifer, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the BlackRock Incorporated Fourth Quarter and Full Year 2014 Earnings Teleconference.

Our host for today's call will be Chairman and Chief Executive Officer Laurence D. Fink; Chief Financial Officer, Gary S. Shedlin; President Robert S. Kapito; and General Counsel, Matthew Mallow. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer period. [Operator Instructions]

Mr. Mallow, you may begin your conference.

Executive
Matt Mallow

Thanks very much. Good morning everyone. I'm Matt Mallow, the General Counsel of BlackRock and before Larry and Gary make their remarks, I want to remind you that during the course of this call, we may make a number of forward-looking statements and call your attention to the fact that BlackRock's actual results, may of course differ from these statements.

As you know, BlackRock has filed reports with the SEC, which lists some of the factors that may cause the results of BlackRock to differ materially from what we say today. And additionally, BlackRock assumes no duty and does not undertake to update any forward-looking statements.

So with that, let's begin the call. Gary?

Operator
Operator

Good morning. My name is Jennifer, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the BlackRock Incorporated Fourth Quarter and Full Year 2014 Earnings Teleconference.Our host for today's call will be Chairman and Chief Executive Officer Laurence D. Fink; Chief Financial Officer, Gary S. Shedlin; President Robert S. Kapito; and General Counsel, Matthew Mallow. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer period. [Operator Instructions]

Mr. Mallow, you may begin your conference.

Executive
Matt Mallow

Thanks very much. Good morning everyone. I'm Matt Mallow, the General Counsel of BlackRock and before Larry and Gary make their remarks, I want to remind you that during the course of this call, we may make a number of forward-looking statements and call your attention to the fact that BlackRock's actual results, may of course differ from these statements.

As you know, BlackRock has filed reports with the SEC, which lists some of the factors that may cause the results of BlackRock to differ materially from what we say today. And additionally, BlackRock assumes no duty and does not undertake to update any forward-looking statements.

So with that, let's begin the call. Gary?

Executive
Gary Shedlin

Thank you, Matt, and good morning everyone. My pleasure to be here to present our fourth quarter and full year 2014 as adjusted results.

Overall 2014 was another strong year for BlackRock's clients, shareholders and employees. We continue to drive shareholder value by generating consistent organic growth; demonstrating the benefits of scale through our operating leverage, and systematically returning excess cash to our shareholders, even in an increasingly volatile macro environment.

As Larry will discuss in more detail,