BlackRock’s Larry Fink slams ‘irresponsibility’ of UK on Brexit chaos


The chief of the world’s largest asset management fund is not pleased with how things are going over in the U.K. amid its divorce with the European Union.

Sitting down with CNBC on Sunday, BlackRock CEO Larry Fink stressed that Brexit and its fallout have become a massive headache for the business world. BlackRock is the world’s largest asset management firm, with some $6.4 trillion in assets under management as of October 2018, according to a company filing.

“Brexit is an immediate problem, and it’s a problem that’s quite frankly annoying every private sector organization in the world today,” the BlackRock CEO told CNBC’s Hadley Gamble.

“The irresponsibility right now of the U.K. in coming to a resolution is putting more and more private sector organizations on alert,” he said. “We’re spending more money than we ever dreamed we needed to do to start working toward Brexit.”

The U.K. is due to leave the European Union on March 29 but the British Parliament has not yet agreed on, let alone ratified, Prime Minister Theresa May’s Brexit deal. It raises the chilling prospect of Britain leaving the 28-member economic bloc without a concrete deal on future ties.

2019-02-24 16:07:00

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