BlackRock’s Larry Fink Takes Helm as WEF Interim Co-Chair—Wall Street Tightens Grip on Global Agenda

Wall Street meets Davos—again. BlackRock CEO Larry Fink snags the interim co-chair role at the World Economic Forum, cementing finance's ironclad influence over global policy. Expect more 'stakeholder capitalism' buzzwords—and fewer teeth on climate pledges.

The revolving door spins faster. Fink's appointment signals what critics call the 'financialization of governance,' where asset managers dictate the rules their own portfolios profit from. The WEF insists it's about 'expertise.'

Bonus jab: At least crypto's decentralized rebels won't be taking meeting notes for the billionaires' club this time.

Larry Fink and a new era of financial influence

Fink’s appointment comes at a time when questions around institutional trust, sustainability, and cross-border cooperation are more acute than ever. Under Fink’s guidance, BlackRock has been a pioneer of environmental, social, and governance (ESG) investing, pushing for a more climate-resilient global economy; a priority that has increasingly permeated WEF dialogues in Davos and beyond.

BlackRock has also been a major institutional force in crypto markets, and its landmark bitcoin spot ETF approval in early 2024 dramatically accelerated adoption and legitimized Bitcoin as an asset class for pensions, endowments, and retail investors globally.

With Fink at the helm of the WEF, the lines between traditional finance and the digital asset economy blur even further. The Forum regularly shapes global regulatory, economic, and technology discussions, and Fink now holds considerable influence over both Wall Street and Davos.

Fink’s appointment could usher in a more progressive stance on crypto within elite policy circles, potentially opening doors for greater integration of Bitcoin and blockchain solutions in global finance and among world decision-makers.

Klaus Schwab cleared, eyes on WEF transformation

The internal review that prompted these shifts centered on longstanding questions about Klaus Schwab’s role and the organizational structure of the Forum. Schwab, who founded the WEF in 1971, has long been a focal point for criticism and, lately, scrutiny regarding governance.

After clearing Schwab of wrongdoing, the WEF announced its intention to install interim co-chairs in a bid to increase transparency and bring new perspectives to the leadership table.

Fink’s appointment thereby serves a dual purpose: to reassure stakeholders by placing a respected industry leader in stewardship, and to reinforce the Forum’s commitment to institutional accountability and renewal.

Fink will serve alongside other interim co-chair, André Hoffmann, vice chairman of Roche Holding AG, forming a joint leadership that reflects the WEF’s renewed mandate for broad-based, multi-sector collaboration.

With geopolitical tensions, economic uncertainties, and the accelerating pace of climate change occupying center stage, the incoming interims face a tall order: restore confidence, drive progress across key global issues, and prepare the Forum for its next chapter.