Merrill Offers Job to Blackrock CEO Fink

I mentioned last Monday (Blackrock Might Lose CEO to Merrill Lynch) that Laurence Fink might be lost - today this appears to be the case, or at least an offer has been extended.

• Merrill Lynch & Co Inc (NYSE:MER) has offered BlackRock Inc (NYSE:BLK) CEO Laurence Fink the post of chief executive of the brokerage, CNBC television reported on Monday
• Investors and analysts see Fink as the antidote to Merrill's fixed-income problems. Considered to be a leading bond manager, Fink built BlackRock from scratch.

As I wrote last Monday
While that is good for Mr. Fink, it would cause some uncertainty in the stock, and unfortunately would take away a man I really like from the company.

So while I really like the Blackrock business, losing the CEO would certainly be a blow. Unlike many CEO's who I view as interchangeable, and overpriced guys like Fink and Jobs create true value. It wouldn't be so much the near term that would cause me concern but the long term vision and execution of the company.

Bummer for Blackrock

Long Blackrock in fund; no personal position