NEW YORK (Reuters) – BlackRock Inc Chief Financial Officer Gary Shedlin said on Tuesday the firm is tightening its belt in terms of hiring and general expenses.
Shedlin said other than critical hires, the company has frozen hiring.
“We’re trying to be a little more prudent,” he said during a financial conference hosted by Goldman Sachs, adding that these measures will put BlackRock in a better position next year.
(Reporting by Carolina Mandl in New York; editing by Jonathan Oatis)