Here's the memo Larry Fink, the head of the world's largest investor, just sent to staff about Trump's council (BLK)

pulse

August 16, 2017 10:36 PM

President Trump on Wednesday disbanded his two business councils, including a Strategy and Policy Forum that included Larry Fink, CEO of BlackRock, the world's largest investor.

BlackRock CEO Larry Fink speaks at the Yahoo Finance All Markets Summit in February 2017.

According to a memo to staff seen by Business Insider, Fink had already decided to resign from the forum.

He said:

Here's the full memo:

Dear colleagues,

Late last year, I joined President Trump’s Strategic and Policy Forum because I believe we need to advance policies that can spur economic growth and improve life for all Americans. Engaging constructively with governments is central to advancing BlackRock’s mission, and, in the United States, we desperately need to find common ground on which Americans of different views and from different parties can come together to move the nation forward.

While I have disagreed with the President in certain instances this year, I continued to participate in the Forum because I believed it was important to have a voice at the table for investors, including our clients. Unfortunately, after the last few days, I concluded that I could no longer in good conscience participate in the Forum.

The events that occurred in Charlottesville, as I said on Monday, are nothing short of domestic terrorism. Such racism and bigotry must not just be condemned but must be condemned unequivocally. The diversity of America works because leaders from all walks of life have always been willing to step forward and reject intolerance without equivocation.

In the last 24 hours, I informed our clients on the Forum as well as the Forum’s chairman of my decision to resign. I also made clear that while I won’t be participating in the Forum, BlackRock will continue to engage on issues of public policy with governments at all levels and around the world. For the U.S. economy, successfully enacting tax reform and rebuilding our infrastructure are of paramount importance.

BlackRock will continue to contribute to the debate on these and other important issues, but we will do so in ways that are consistent with our culture and values.

Sincerely,

Larry Fink

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