"Yet BlackRock hasn’t entirely avoided scrutiny—its cozy relationship with Washington officials has been a source of more attention. The Campaign for Accountability, a Washington, D.C.-based organization, launched a project in June tracking the revolving door of BlackRock executives in and out of halls of power; these include Brian Deese, a climate adviser to the Obama administration who joined BlackRock to run sustainable investing in 2017, and Carol Lee, who went from BlackRock’s compliance department to be securities compliance examiner at the U.S. Securities and Exchange Commission last year."
New Report Adds to Conflict of Interest Concerns Surrounding BlackRock’s Advisory Role in Trudeau’s Canada Infrastructure Bank
On August 27, 2018, CfA released a new report detailing how BlackRock – the world’s largest asset manager – appears to have been intimately involved not only in advising the Trudeau government about the creation of its Canada Infrastructure Bank, a government-backed financial institution championed by Prime Minister Justin Trudeau, but also in the government’s appointment of key Bank personnel and staff. The new revelations add to the growing conflict of interest concerns surrounding the Bank’s creation and provide new evidence for those calling for a full investigation of BlackRock’s advisory role with the Trudeau government.
Campaign for Accountability Launches the “BlackRock Transparency Project” to Investigate the Political Influence of World’s Largest Asset Manager
On June 27, 2018, CfA launched the BlackRock Transparency Project to investigate the influence of BlackRock – the world’s largest asset manager – on governments, public policy, and our everyday lives. As a part of the launch, CfA has released three new reports tracking BlackRock’s efforts to influence government.