Governor Paterson Announces BlackRock Commitment to New York State Jobs

ALBANY, NY (11/08/2010)(readMedia)-- Governor David A. Paterson today announced that BlackRock, Inc., the world's largest asset management firm and a provider of global investment management, risk management and advisory services for institutional and retail clients around the world, has committed to have 1,530 jobs in New York by the end of 2010 and create another 200 additional jobs in the State by the end of 2015.

"I am pleased to join BlackRock in announcing this expansion of good paying financial services jobs in New York City," Governor Paterson said. "BlackRock, as the world's largest asset manager, will be a vital ally as we continue to create jobs and fuel New York's economic engine. My administration has sought to assist our business community's growth and expansion, as the long-term health of our financial sector directly affects the economic security of all New Yorkers."

Laurence D. Fink, Chairman and CEO of BlackRock, Inc., said: "BlackRock is proud to make this commitment to the State of New York. Given today's difficult economic climate, BlackRock believes it is important to continue to strengthen our ties with the State. New York has proven itself as the financial capital of the U.S. and BlackRock will continue to base the firm's headquarters in New York."

Mayor Michael R. Bloomberg said: "BlackRock's commitment to add several hundred jobs is the latest vote of confidence from the private sector in the City's future and another sign that the financial sector is recovering and creating jobs. Our local economy is still recovering from the national downturn, but it is investments like the one BlackRock has committed to that are helping drive faster job growth in New York City than elsewhere in the country."

Kathryn Wylde, President and CEO of the Partnership for New York City, said: New York's position as the world financial center is reaffirmed by the decision of BlackRock, a leading global institution, to expand and invest here. This is further evidence of the success of the strategic new approach to economic development introduced by Governor Paterson."

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2010, BlackRock's assets under management were $3.446 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of September 30, 2010, the firm has approximately 8,900 employees in 24 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia, the Middle East and Africa.

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