BlackRock CEO scored hefty comp package

BlackRock Inc. chairman and chief executive Laurence Fink received $41.87 million in compensation in 2007, according to a filing with the Securities and Exchange Commission. Mr. Fink was awarded a $500,000 salary, a $16.15 million bonus, stock option awards valued at $24.5 million, and $230,552 of “other compensation.” His compensation also included $221,598 to pay for the use of aircraft. BlackRock said Mr. Fink's compensation was influenced by a 53% increase in earnings-per share, a 21% increase in assets under management to $137.6 billion and “continued competitive investment performance.” The New York-based company also noted the acquisition of Seattle-based Quellos Group LLC’s fund-of funds business for $1.7 billion last year was a factor in Mr. Fink's compensation (InvestmentNews, June 26) .