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25 years, 25 CEOs: James Charrington, chairman, BlackRock’s EMEA business
24 January 2012
To celebrate its 25th anniversary, Global Investor/ISF interviewed 25 CEOs. The head of BlackRock’s European business is concerned over the potential for the present economic difficulties to morph into social conflict at a later date
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James Charrington
BlackRock
The current sovereign troubles demonstrate that we’re only just beginning to understand the nature of the crisis that we are going through. But I can’t control the investment environment, so there’s no point worrying about that. What worries me is the impact of how people are saving for the long term. Equity holdings in pension funds continue to decrease: we are seeing pension funds with 30-year liabilities managing their assets with a 12-month horizon.Because several factors – the investment environment, changing accounting standards and regulatory changes – are working at the same time, investors are getting more risk averse. But the danger is that this will create a vicious circle keeping people out of the market: it’s 24 years since the Japanese stock market last peaked and...
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