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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Q & A
Executive
Rob Kapito

on where interest rates are and what does it mean for some of the largest suburban wealth funds. So, I think the dialogue start with the macro environment and how to play it. And that is the most forceful reason why there is so much money in motion. Obviously you have cyclical changes in one manager versus another but that's always evident in the marketplace. And I think it is just weighing too much commentary related to that and its masking what lower rates are doing related to client's needs.

Operator
Operator

Ladies and gentlemen, we have reached the allotted time for questions. Mr. Fink, do you have any closing remarks?

Executive
Larry Fink

Yeah, let me just touch on one more thing. Our fourth quarter and full year results as I think we have kind of expressed in our formatted speeches and in the Q&A, truly highlight the diversity and the differentiated platform of BlackRock.

We are seeing the impact of our large scale investing that we made over a year and we are continuing to make those large scale investing in infrastructure and equities. We're going to continue to make these investments and those investments are going to pay-off in the next few years.

And I think it's vital to understand that we believe this differentiated platform is the key component of what is been delivering, this type of compounded growth that we have had on behalf of our clients for our shareholders.

And I think that will continue and most importantly what I'm proud of as an organization we were able to deliver these investments and I'm not here to tell you all investments paid off, but we've been to continue to deliver these investments. And at the same time as Gary discussed, we saw a consistent increase in our margins over the course of the last five year.

I think this is what differentiates BlackRock and I'm certainly not suggesting that we'll continue forever. But I do believe that continual investment in people, I have to remind people, three years ago we only had - we had less than 10,000 employees. Today, we have 12,000 employees. This is just an investing in our platform, investing in our client connectivity, and investing in products and in most cases we're delivering.And this is something that really has given us that differentiated business model. And I do believe it's going to continue to drive our future at BlackRock.

So, I just want to thank you everyone for taking the time this morning. And thank you for your interest at BlackRock. Have a good quarter and hopefully the next few weeks are going to be little less volatile than the last few weeks. So enjoy.

Operator
Operator

This concludes today's teleconference. You may now disconnect.