a hidden player in Biden’s economic team.

Joe Biden, who will be inaugurated in about 50 days, has a common denominator for key figures in the government’s economic team. He is a former executive of BlackRock asset management.

Brian Deeds, 43, who will be named chairman of the White House National Economic Council, led the sustainable investment team in Black Rock. Adewalea de Yemo, 39, the nominee for deputy U.S. Treasury secretary, served as chief of staff to Black Rock CEO Larry Pink. Those who were the brains of former President Barack Obama’s economic team chose Black Rock after President Donald Trump won the 2016 election.

As Disney and Ade Yemo took the helm of Biden’s economic team, there was also a change in the official course of moving to the “Goldman Sacks →Government.” Treasury Secretary Steven Mnuchin of the Trump administration and former NEC Chairman Gary Cohn are both from Goldman Sachs. Under former President Bill Clinton, Treasury Secretary Robert Rubini and Henry Paulson, who served as finance minister under the George W. Bush administration, both served in Goldman Sachs.

The Wall Street Journal (WSJ) reported on the 2nd (local time) that “the formula of a former Goldman Sachs taking a key White House post was broken and Black Rock took over.”

Founded in 1988, BlackRock Asset Management is a large investment company with sales of $14.1 billion 정품비아그라 (about 15.5 trillion won) as of 2018. Compared to Goldman Sachs, which was founded in 1896, it is a remarkable achievement. There is inner room. As of September, it has grown into a proper company with assets exceeding $7.8 trillion.

Nevertheless, it was a strange name for producing political and related figures. However, he accepted those who worked under the Obama administration and succeeded in the insurance he had heard about the liberal camp.

Industry analysts say that the era of Goldman Sachs has gone and Black Rock has made strides in the U.S. administration is more than just the rise of certain companies.

It is also interpreted that the Biden administration called for “No” to the representative value of Goldman Sachs and Wall Street, which aim to generate profits with corporate mergers and acquisitions and aggressive stock investments. The representative goals of the Biden administration are to deal with climate change, address economic and gender inequality, and protect minorities. This is why Black Rock’s tendency was matched.

BlackRock tried to differentiate itself from other investment banks by focusing on sustainability and eco-friendly values. In particular, after the joining of Adeyemo and Disney, such colors became darker.

In an open letter to investors earlier this year, CEO Pink declared that “the most important decision-making criterion in Black Rock’s investment in the future will be environmental issues.” BlackRock then announced that it would stop investing in the coal industry worth $500 million. On Black Rock’s website, the phrase “we” should be worth “we” is clear. It is a declaration that the government will be conscious of the value of the community rather than blindly pursuing individual returns in investment.

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