PHO20 blackrock board
Photographed March 12, 2013, in the under-construction 22nd floor of the company's Manhattan headquarters. Left to right: William S. Demchak, president and CEO, PNC Financial Services Group; David H. Komansky, former chairman and CEO, Merrill Lynch; Jessica P. Einhorn, former dean, Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University; Thomas H. O'Brien, former chairman and CEO, PNC Financial Services Group; Thomas K. Montag, co-chief operating officer, Bank of America; Abdlatif Y. Al-Hamad, director general and chairman, Arab Fund for Economic and Social Development; Marco Antonio Slim Domit, chairman and CEO, Grupo Financiero Inbursa; James J. Grosfeld, former chairman and CEO, Pulte Homes; James E. Rohr, executive chairman, PNC Financial Services Group; Sir Deryck Maughan, senior adviser, Kohlberg Kravis Roberts; Ivan G. Seidenberg, former chairman and CEO, Verizon Communications; Laurence D. Fink, chairman and CEO, BlackRock; Susan L. Wagner, former vice chairman, BlackRock; John S. Varley, former chief executive, Barclays; Robert S. Kapito, president, BlackRock

Founded in 1988, the asset-management firm has grown into the world's largest, thanks to a slew of deals, including the purchases of Merrill Lynch Investment Managers in 2006 and Barclays Global Investors in 2009. Last summer's retirement of co-founding partner and vice chairman Sue Wagner, who oversaw BlackRock's M&A business, signaled an end to the firm's acquisition strategy. Chairman and CEO Larry Fink is now restructuring the company, hoping to spur investor deposits instead of large-scale acquisitions. BlackRock (No. 286) ended 2012 on a high note: The company closed the year managing a record $3.792 trillion in assets.

  @FortuneMagazine - Last updated May 06 2013 09:23 AM ET
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