The world’s largest money manager has introduced a new policy forcing its 16,000 employees to disclose ‘personal relationships’ with all the company’s clients, in what is being described as the toughest policy yet on office romances.
BlackRock, the New York-based firm which manages $7.4 trillion in assets, introduced the new rules last week.
They are in addition to existing policies which forced the disclosure of relationships with other staff members.
Given that BlackRock, on behalf of the funds it runs, is one of the five largest shareholders in nearly every corporation in the S&P 500, the impact of the new policy is expected to be significant.
[…]‘It takes the assessment of what is or is not a conflict out of the employees’ hands and puts it into the hands of HR and lawyers — which makes it eminently enforceable,’ the executive said.