What CEOs Are Saying: Asset Management & Investment Banking in Early 2026
Let's catch up with the CEOs of BlackRock, Goldman Sachs, and Morgan Stanley
The three giants of asset management and investment banking all reported January 15th.
BlackRock, Goldman Sachs, and Morgan Stanley beat expectations based on surging deal activity, private markets growth, and investors who are hungry for alternatives.
Let’s take a look at three takeaways from each call.
BlackRock, Inc. (BLK) - Q4 2025 Earnings Call
The world’s largest asset manager hit $14 trillion in assets under management and posted record net inflows of $698 billion for the year. BlackRock CEO Larry Fink described it as entering 2026 “with accelerating momentum across our entire platform, coming off the strongest year and quarter of net inflows in our history.” The firm increased its dividend by 10% and authorized $1.8 billion in share repurchases.
1. Private markets are coming to 401(k)s, and BlackRock is building the infrastructure
BlackRock expects to launch its first LifePath target date fund (a retirement investment product that automatically adjusts its asset mix as investors approach retirement) with private markets exposure “later this year,” pending Department of Labor approval. Fink emphasized that once private assets enter defined contribution plans, every recordkeeper will need comprehensive risk management tools.
