In a rare summit that brings together two of the world's most
influential money managers, PIMCO co-chief executive officer and chief
information officer Bill Gross and Larry Fink, chairman and chief
executive of BlackRock Inc., met at the Beverly Hilton Hotel in Beverly
Hills, CA, on Thursday, Nov. 17, 2011, and provided their candid take on
the U.S. economy, the European financial crisis, Occupy Wall Street and
thoughts on investing strategy. This is only the second time that the
two UCLA Anderson School of Management alumni, who graduated five years
apart, have met to share their perspectives on global economic and
financial issues.
UCLA Anderson, in partnership with Bloomberg Television, hosted this
exclusive event, an hour-long discussion moderated by Bloomberg anchor,
Erik Schatzker, followed by a question and answer session with the
attending audience. The program will be aired globally on Bloomberg
Television, Bloomberg.com and the Bloomberg TV+ app for iPad on Monday,
Nov. 21, 2011, at various times. Video highlights of the event are
available on UCLA Anderson's event page at http://www.anderson.ucla.edu/x38804.xml.
"What a fitting way to celebrate UCLA Anderson's 75th
anniversary, with an incisive conversation between two extraordinary
alumni who collectively manage $4.7 trillion in assets," says Judy
Olian, dean of UCLA Anderson School of Management. "Their uniquely
informed insights on global market conditions and risks couldn't be more
timely, given the current volatility of key economies, the debt crisis,
and prospects for emerging markets around the world."
Bill Gross, who runs the world's biggest bond mutual fund at Pacific
Investment Management Co. (PIMCO), has frequently discussed today's "new
normal" – described as an era of slowing economic growth in developed
markets, higher unemployment and a rise in emerging markets. Larry Fink,
who co-founded BlackRock in 1988 and has built the company through
acquisitions, recently told Bloomberg that clients are "confused" and
fleeing risky assets due to government policies. Under Fink, BlackRock
advised the Federal Reserve during the aftermath of the 2008 financial
crisis and more recently has advised the governments of Greece and
Ireland on how to navigate the sovereign debt crisis in Europe.
Larry Fink has been named one of the "World's Best CEOs" by
Barron's each year since 2005, and distinguished as one of the most
respected people in finance by the Financial Times, Forbes and Smart
Money.