rick rieder personal net worth

As for himself, Rieder is definitely in the wealthy segment of society given his executive status at BlackRock. Copyright 2023 Market Realist. Rick Rieder is in charge of assets worth $1.8 trillion, but it is under his leadership that the hedge fund has managed to grow exponentially. He argues that the amount of economic activity has surged in recent years, "but we're doing it at a fraction of the cost." Having been born in Fort Recovery, Ohio, Rick Derringer formed the band The McCoys as a teenager who has brought him so much wealth. sellvolbuytesla (@sellvolbuytesla) January 19, 2022. BlackRock as a whole hit $8.7 trillion in total assets by January for a 17 percent boost from the previous year. Rick M. Rieder is the Portfolio Mang at BlackRock 2022 Global Income Opportunity Trust. All Rights Reserved. It is not known when the couple became engaged. By 2009, the hedge fund had assets worth $1.5 billion, but BlackRock acquired it; Rick was tasked with managing the fixed-income portfolio. Besides, he is also serving as the managing director, head of the Fundamental Fixed Income Business, and the Head of the Global Allocation Investment Team. He has been awarded Gold Medals by Morningstar. By January, BlackRock's total assets had increased by 17% over the previous year to $8.7 trillion. After Rick developed an interest in business, he was bent on taking up a career in business. He is in charge of his companys assets, which total over $2.4 trillion. Although he has not disclosed his exact net worth, it is estimated to be in the trillions of dollars. BlackRock Rick Rieder runs BlackRock's $2.4 trillion fixed income division, along with several mutual funds. We also use third-party cookies that help us analyze and understand how you use this website. insiders at BlackRock 2022 Global Income Opportunity Trust have traded over $1,572,242 worth of BlackRock 2022 Global Income Opportunity Trust stock and bought 567,951 units worth $5,578,863 . Richard Rieder owns over 14,500 units of BlackRock Capital Allocation Trust stock worth over $476,906 and over the last 6 years Richard sold BCAT stock worth over $1,572,242. These cookies track visitors across websites and collect information to provide customized ads. Later, in 1987, he earned his MBA from The Wharton School of the University of Pennsylvania. So, his birth date and birthplace are unknown. Astro UB40 Family, Net Worth, Wife, Cause of Death & Biography, Slim 400 Net Worth, Family, Parents, Wife & Biography, Kaitlyn Bristowe Family, Net Worth, Parents, Husband, Wiki Bio & More, Laurence Fox Family, Net Worth, Parents, Wife, Children & More, Sarah Eggar Family, Net Worth, Parents, Husband, Wiki Bio & More, Wharton School of the University of Pennsylvania. In the late 1990s, for example, he righted Lehman's troubled emerging markets credit business after infamous hedge fund Long-Term Capital Management imploded. examples of bad manners. By Rick Rieder Feb. 23 2016, Published 11:11 a.m. The stock had lucrative returns which opened Ricks eyes to the world of investing, and he continued trading stocks, informing his decision with investment classes he was taking. While other bond bigwigs like DoubleLine's Jeffrey Gundlach and Janus' Bill Gross are sounding alarms over the economy, Rieder is an unabashed optimist. This cookie is set by GDPR Cookie Consent plugin. The Federal Reserves Financial Markets Investment Advisory Committee appointed him as a member of the committee, and he served as Vice Chairman of the Treasury Departments Borrowing Committee. Your IP: Within a year, the assets had increased in value to a total of US$600 billion.. BlackRock 2022 Global Income Opportunity Trust executives and independent directors swap stock every 22 days, with the average trade valued at $81,643 per transaction. Every 22 days, executives and independent directors of BlackRock 2022 Global Income Opportunity Trust swap stock, with the average trade valued at$81,643. These cookies will be stored in your browser only with your consent. Mr. Rieder formerly served as President and Chief Executive Officer of R3 Capital Partners prior to joining BlackRock in September 2009. As the U.S. Federal Reserve prepared to divulge their economic forecast for 2021, BlackRock's Chief Investment Officer of Global Fixed Income Rick Rieder had a few words to say. By the end of the day, Rick had changed his mind about pursuing financial analysis; instead, stock trading drew him in due to its risk-taking characteristic. BlackRock and top bond manager, doesn't work in tech, but these days he's preoccupied with disruptive innovation and how it may be affecting economic data. He is responsible for roughly $2.4 trillion of assets of his company. Mr. Rieder worked as a credit analyst at SunTrust Banks in Atlanta before joining Lehman Brothers. In his first years on Wall Street, Rick failed to utilize the rumor he heard; that for a trader to be successful, he must learn how to mask emotions regardless of the wins or losses. Comment * document.getElementById("comment").setAttribute( "id", "ad0a51fcc85354f64bd454bee8c27bed" );document.getElementById("afe063943e").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. Now, his relationship is perfect. Rick Caruso's Early years and Wiki: Rick Caruso, who was born on January 7, 1959, will be 64 years old in 2023. Central banks are in the midst of the most. However, while we think growth will be strong, we also think that over the intermediate term the #Fed is correct in thinking #inflation will remain muted by the same factors that have held sway in recent decades: population aging and tech #disinflation. By clicking Accept, you consent to the use of ALL the cookies. Although he did not have loads of money to invest in the firm, the business executive still did with the little he could accumulate. rick rieder personal net worth. Rick and Debra Rieder have two daughters. They are in relation from previous few years of a strong relationship. Investors have witnessed some "pretty crazy" times in financial markets these past few weeks, with Thursday's wild fluctuations ranking among the "craziest days of my career," said Rick Rieder,. The action you just performed triggered the security solution. Mr. Rieder worked as a credit analyst for SunTrust Banks in Atlanta prior to joining Lehman Brothers. It was Oct. 9, 1955, and the Rangers were in Detroit for the second game of the season two nights after taking the opener in Chicago. But rather than limit his obsession to yield curve machinations or the utterances of the Federal Reserve, Rieder focuses on how upheavals in technology may be affecting underlying drivers of capital markets: jobs, GDP and inflation. In 2009, the speculative stock investments was valued at $ 1.5 billion, however it was purchased by BlackRock, and Rick was depended with dealing with a proper pay portfolio. Later, he was honored with the award of the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor. Rick graduated from Emory University with a BBA in Finance in 1983. 0:00. Debra is well-known as Rick Rieders wife. Rick Rieder is serving as the chief investment officer of Global Fixed Income at BlackRock. Rick Rieder, managing director, is BlackRock's chief investment officer of Global Fixed Income, head of the Global Allocation Investment Team in the Multi-Asset Strategies Group, a member of. The love birds are blessed with two children. By 19, he had a degree in Electronics and communication engineering. Currently, he is serving as a member of the board of Emory University. Although he has not given the exact detail of his net worth, he is estimated to earn in trillions. He was also a member of the United States Treasurys Borrowing Committee, where he served as Vice-Chairman. Within a year, the assets worth had increased to $600 billion. "It means we can grow without inflation," he says. He also serves as managing director, head of the Fundamental Fixed Income Business, and head of the Global Allocation Investment Team. The U.S. stock market's two-day tech-led fall last week has revived investor worries about a spiral of selling that could crash the broader market, but Rick Rieder, head of the BlackRock Global . He, therefore, advised investors to buy more stocks from tech and healthcare firms. 3. But we are trying hard to collect all the information about him and will update you soon. Given that the dispersion between higher and lower quality assets isnt that great anymore, weve upgraded portfolios looking to move up in quality at similar yields, says Rieder. Rieder holds up a chart that shows the number of photographs taken each year. You can email the site owner to let them know you were blocked. That's where BlackRock comes into the picture. Rick, on the other hand, has not revealed anything about his family. Your IP: Blackrock's Rick Rieder weighs in on the outlook for cryptocurrencies as prices remain under severe pressure. Before this, he has also served as global head of the firms credit business, member of the board of trustees for the corporate pension fund, chairman of the corporate bond, and the loan capital commitment committee. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. He is also the creator and chairman of the BBA investment fund, which is affiliated with the business school. This cookie is set by GDPR Cookie Consent plugin. Castle Lanterra Properties CEO Elie Rieder. Later, he was named the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor. The cookie is used to store the user consent for the cookies in the category "Analytics". Rick Rieder. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. 70% of equity volumes now go through options I learnt this neat stat from my colleague @Rick Rieder. Richard M Rieder Net Worth The estimated Net Worth of Richard M Rieder is at least $2.05 Million dollars as of 28 December 2022. The mothers name is Not Available. You also have the option to opt-out of these cookies. It is unknown when the pair got married. Today,, Read More 10 Things You Didnt Know about Byju RaveendranContinue, Vijay Shekhar Sharma graduated high school at the age of 14. Canon He handles a large number of assets as part of the worlds largest asset management organization. In 2009 BlackRock acquired R3, which had about $1.5 billion under management, and a year later installed Rieder as head of the firm's actively managed fixed-income portfolios, then near $600 billion in assets. Here are Rieder's strongest convictions right now: Buy junk bonds over investment-grade. After working at Lehman for two years, Rick was ready to establish his own fund hence in 2008, R3 Capital was born, being backed up by Lehman. Rick Rieder is an American businessman who is also BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Multi-Asset Strategies Group's Rick Rieder is in charge of assets worth $1.8 trillion, but it is under his leadership that the hedge fund has managed to grow exponentially. BlackRock Global Fixed Income Chief Investment Officer Rick Rieder joins Yahoo Finance Live to discuss the state of the economy, inflation, the Fed's decision for a 75 basis point rate hike,. Previously, he was worldwide head of the firms credit business, a member of the corporate pension funds board of trustees, chairman of the corporate bond, and the loan capital commitment committee. This cookie is set by GDPR Cookie Consent plugin. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million, How Bebe Rexha Achieved a Net Worth of $10 Million. This is the NHL's unsolved mystery. In addition, Rick serves as a member of BlackRock's global operating. They have two little girls Danielle and Melanie Rieder. Also See: All Details About Jack Matfin Bells Net Worth, Relationship, and Early Life. Bank and a former Lehman emerging markets trader. Rick earned a degree in BBA in Finance from Emory University in 1983. "Many of these countries have been through crises, brought dollar-denominated debt way down and reserves way up," Rieder says. It does not store any personal data. He has a long history in global investment management and has served on numerous committees and fundraising groups. Prior to joining all of these positions in the businesses and funds, he was the head of the Global Principal Strategies team and a global proprietary investment platform at Lehman Brothers. Rick Rieder, BlackRock's chief investment officer of global fixed income and head of the global allocation team, recently made notably positive comments regarding Bitcoin during an appearance on CNBC's "Squawk Box ." "Bitcoin is an interesting asset," said Rieder. November 5, 2020 . These cookies ensure basic functionalities and security features of the website, anonymously. Save my name, email, and website in this browser for the next time I comment. He is a member of Emory Universitys board of trustees, the Emory Business Schools board of trustees, the Universitys Finance Committee, and the Investment Committees Vice Chairman. Richard Rieder is 60 years old today because Richard's birthday is on 07/10/1961. Besides, seeing that he also joined Wharton School of Business for his MBA is proof he was academically gifted. He is the founder and CEO of the e-commerce website JD.com. pic.twitter.com/HjwLzfOjnp. After working at Lehman for two years, Rick was ready to establish his own fund hence in 2008, R3 Capital was born, being backed up by Lehman. Personal Finance; Budgeting; Fast Money; News; . Morningstar nominated him for Outstanding Portfolio Manager in 2021. Despite his low profile, Rieder is no lightweight among bond gurus. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. "U.S. rates have been a sanctuary for 25 years, but I think investors need to diversify. Rick Rieder hasnt shared anything about his personal life. BlackRock's Rick Rieder, who helps manage $7 trillion, on the markets ahead of the Fed Published Wed, Jun 10 2020 10:33 AM EDT Patti Domm @in/patti-domm-9224884/ @pattidomm Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners until joining BlackRock in 2009. Morningstar nominated him for Outstanding Portfolio Manager in 2021. disney land and sea packages 2022. affluent black neighborhoods in new york. In addition to his role as Chief Investment Officer of Global Fixed Income at BlackRock, Rick Rieder serves as Head of the Multi-Asset Strategies Groups Global Allocation Investment Team, a member of BlackRocks Global Operating Committee, and Chairman of the firms BlackRock Investment Council. Rick Rieder, a BlackRock executive, has yet to divulge his income or net worth. He was born and raised in Scarsdale, New York, and his interest in investing and risk management began in elementary school. Rick Derringer Net Worth. He married his beautiful wife,Debra Lieb Rieder. Other names that Richard uses includes Rick Reider, Rick Reid, Ricky Reider, Rick M Rieder and Rick Rieder. 17 2021, Published 2:47 p.m. Rieder is in charge of fixed income and manages at least $1.8 trillion of those assets, which isn't a small feat. Before joining all these positions of the businesses and funds, he served to be the head of the Global Principal Strategies team, and a global proprietary investment platform with Lehman Brothers. They say train a child in the path he should follow and he will not depart from it once he is older. He was formerly the worldwide head of the firms credit business, a member of the corporate pension funds board of trustees, the chairman of the corporate bond, and the loan capital commitment committee. It seems as if Mr. Rieder wants to keep the information secretive from the public. While studying for his undergraduate degree in business administration at Emorys Goizueta business school, Rick heard a rumor that would change the course of his life. We have no more Information about his Father; we will try to collect information and update soon. This cookie is set by GDPR Cookie Consent plugin. We cant say their name. He has made a huge income from his work. Analytical cookies are used to understand how visitors interact with the website. BlackRock Executive Rick Rieder Keeps His Wealth on the Down-Low By Rachel Curry Mar. Rieder is a bitcoin believer. How he became passionate about business, 5. He was also an active member of the Borrowing Committee for the U.S. Treasury and was serving as the Vice-Chairman there at the committee. ET As the U.S. Federal Reserve prepared to divulge their economic forecast for. From 1987 to 2008, he worked for Lehman Brothers. The average net worth of U.S. households, however, is less than half of that. He was raised in the quaint American city of Los Angeles in the state of California. He was born and raised in Scarsdale, New York, and his interest in finance and risk management began in elementary school. Your email address will not be published. . They have kept their information out of the hands of media outlets. Therefore even after working at Chase Manhattan for two years, he was still determined to further his career in financial analysis. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Danielle and Melanie are the names of both daughters. There is no specific information about how and when they married. He was previously the president and CEO of R3 Capital Partners. He served at Lehman Brothers from 1987 to 2008. Before the years over, the quantity of structures had ascended to $ 600 billion. Also, we have no idea about his brother and sister, and we dont know their names either. By 2010, he got that $1.5 billion up to $600 billion. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The figure has grown exponentially, now on its way to 3 trillion, yet the world's top camera companies, like Japan's These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Rick Rieder, Blackrock's Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC's Squawk Box on Friday. Wilkinson is the founding CEO of Tiny Capital, a long-term holding company for businesses that specializes in acquiring majority or whole stakes in, Read More 10 Things You Didnt Know about Andrew WilkinsonContinue, Byju Raveendran is an Indian entrepreneur whose educational technology and online tutoring firm Byjus has captured the market in online learning. But opting out of some of these cookies may affect your browsing experience. From 1987 to 2008, he worked for Lehman Brothers. He is one of the most successful people in the tech industry, so many people in business, Read More 10 Things You Didnt Know About Liu QiangdongContinue, Yotam Drechsler is the current CEO of a neurological treatment startup called BrainQ. He is responsible for roughly $2.4 trillion of assets of his company. Rick Rieder is a married guy with two children. He was also an active member of the US Treasurys Borrowing Committee, where he served as Vice-Chairman. This site uses Akismet to reduce spam. He was nominated for outstanding portfolio manager by Morningstar in 2021. Insight On Rick Rieder Net Worth And Salary. Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. You would think that the more you make money, the more time you get to sleep but Rick Rieder has proven that is not the case. By 2009, the hedge fund had $1.5 billion in assets, but it was purchased by BlackRock, and Rick was given responsibility for the fixed-income portfolio. According to Rick Rieder, BlackRock's chief investment officer of global fixed income, investors might be better off with a "40-60" portfolio that is, a portfolio that allocates only 40% to. (adsbygoogle=window.adsbygoogle||[]).push({}); Scroll below and check our most recent updates about Pierre Marcotte's Estimated Net Worth, Age, Biography, Career, Height, Weight, Family, Wiki. The cookies is used to store the user consent for the cookies in the category "Necessary". If you think that her story is just another story about a CEO at a big-name company, think again. Biography, Net Worth, Gossips, Salary, News & Much More. Prior to his role at BlackRock, Rieder actually had his own hedge fund organization. Rick Rieder, a senior executive at BlackRock, has not disclosed his income or net worth to far. December 16, 2022. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Rieder is a managing director and the global chief investment officer of fixed income for BlackRock. Rick Ross Rick Ross age Rick Ross biography rick ross health Rick Ross net worth. Rick Rieder Biography. Specialties: Retirement Planning, Wealth Management | Learn more about Rick Rodgers, CFP, CRPC's work experience, education, connections & more by visiting . Author: theexchange.africa; Updated: 2023-01-13; Rated: 69/100 (3681 votes) High: 98/100 ; Low: 64/100 ; Summary: Rick Ross Net Worth; Matched Content: What is Rick . Rick is the founder and Chairman of the BBA investment fund and community financial literacy program at the business school. He was born and grew up in Scarsdale, New York and he developed his interest in investment and risk management from school days. He is one of the most remarkable business personalities ever observed. Whatever his net worth, Rieder looks like he's about to expand his portfolio for the better (if he hasn't already). mercer county community college basketball roster. Rick Rieder is one of the most amazing business personalities ever witnessed. Currently, Rick resides in Brentwood, a west-side district of Los Angeles . In addition to being nominated for the Morningstar Outstanding Portfolio Manager Award in 2021, he was also awarded the Institutional Investor Global Unconstrained Fixed Income Manager of the Year award in 2015. Rick is BlackRock's Chief Investment Officer of Global Fixed Income, head of the global asset allocation team, and chairman of the firm's Investment Council. The couple are hitched and favored with two wonderful kids. Rieder was born in New York City and raised in New Jersey. Rieder is a successful businessman with a net worth of over $1.2 trillion. "If you can clip 6% to 7% yields in a world where equity may not do much, that's pretty attractive.". In 2009, R3 acquired $1.5 billion in assets under management and BlackRock scooped it up through a well-timed acquisition. He has more than 37 years of expertise in international wealth banking and foreign policy, as well as in the private sector. BlackRock's CIO of Global Fixed Income Rick Rieder Photograph by Krista Schlueter It is an exciting time for fixed incomeand a terrifying one, too. According to eFinancialCareers, he wakes up at 3.30 am to catch up on the latest in the stock market before he starts trading. Now in his adulthood, he loves ice hockey, and the New Jersey Devils are his favorite team. at BlackRock 2022 Global Income Opportunity Trust. He was the President and Chief Executive Officer of R3 Capital Partners before to joining. Net Worth; toggle. Rick Rieder has an estimated Net Worth around $1.8 trillion in 2022. It's been a volatile period. Rick Rieder is an American businessman who is also BlackRocks Chief Investment Officer of Global Fixed Income, Head of the Multi-Asset Strategies Groups Global Allocation Investment Team, a member of BlackRocks Global Operating Committee, and Chairman of the firms BlackRock Investment Council. "I think it's durable. Growing up in the suburbs of New York City, he saw the rise of personal computing in the 1980s drive his father's office products store--which sold typewriter ribbons and other supplies--out of business. He explained that the joint effort with other philanthropic organizations was because they saw an opportunity to develop kids talents which would have otherwise remained untapped. When Rick talked to Market Watch, he disclosed that traditional investors fail to make money in their investments because they focus on a firms profit growth trend instead of its cash flow. The cookie is used to store the user consent for the cookies in the category "Other. , have seen revenues and market values collapse. After Lehman collapsed Rieder got a call from BlackRock cofounders Rob Kapito and Larry Fink, who were looking for a new fixed-income chief. Facts of If this doesn't speak to the uncertainty out there I In addition to his role as Chief Investment Officer of Global Fixed Income at BlackRock, Rick Rieder serves as Head of the Multi-Asset Strategies Group's He named it R3 Capital and it was backed by his former employer Lehman Brothers, a global financial firm that ultimately declared bankruptcy in the thick of the Great Recession in 2008. Mr. Rieder is responsible for roughly $2.4 trillion in assets. Rick Rieder, a top executive with New York-based BlackRock, the world's largest asset management firm, has paid $7.25 million for a home he plans to tear down in . In February, BlackRock filed documents with the SEC that stated their intention to include bitcoin futures as eligible investments in two funds. He handles a large number of assets as part of the world's largest asset management organization. Click image or button bellow to READ or DOWNLOAD FREE Robert Service: Under the Spell of the Yukon, Second Edition Book Information : . If you havent heard of Andrew Wilkinson, then let me introduce you. Hes, Read More 10 Things You Didnt Know about Vijay Shekhar SharmaContinue, Liu Qiangdong is a Chinese Internet entrepreneur. Since its launch in 2011, the firm has grown at an incredible rate. Later, he went to The Wharton School of the University of Pennsylvania in 1987 to receive his MBA degree. I just remember Rick was super calm, composed even though everything was collapsing," recalls Mohammed Grimeh, a managing director at He was nominated for Morningstars Outstanding Portfolio Manager award in 2021, received Institutional Investors Global Unconstrained Fixed Income Manager of the Year award in 2015. Rick was able to start his own fund after working at Lehman for two years, so R3 Capital was born in 2008, backed by Lehman. This website is using a security service to protect itself from online attacks. Fathers name is Not Available. Rick Rieder, chief investment officer at BlackRock Financial Management, is pushing back against Telsa CEO Elon Musk's decision to drop Bitcoin as a form of payment. Subscribe. Your email address will not be published. Personal Finance. He joins CNNMoney anchor Maggie Lake during an interesting week. He is currently a member of Emory Universitys board of trustees. You can email the site owner to let them know you were blocked. Salary, Earnings, Rick Rieder- Birth, Age, Ethnicity, Siblings, Education, Body Measurements: Height, Weight, Hair color, All You Need To Know About Tamara Hurwitz. The truth is, there are, Read More 10 Things You Didnt Know about Demet MutluContinue. Morningstar has bestowed Gold Medals upon him. Despite being fascinated by the stocks market, Rick preferred making his investments while working as a financial analyst. Rieder is a successful businessman with a net worth of over $1.2 trillion. As the chief investment officer of global fixed income at $4.7 trillion asset manager BlackRock, Rieder oversees $1.2 trillion invested in everything from mortgage-backed securities and corporate. So the key to "reading" Rieder is deciphering his relative bullishness. So, lets take a look at how Rick Rieder has stayed on top of things at BlackRock and a few more things you most probably didnt know about him. rick rieder personal net worth; la crosse technology weather station reset; Arthur, Apple Inc.'s current chairman, was born on March 31, 1950.He was born in the American city of Seattle, Scroll below and check our most recent updates about James Crosby's Estimated Net Worth, Age, Biography, Career, Height, Weight, Family, Wiki. Follow Featured Biography for more celebrity reads. The most active insiders traders include Richard M Rieder, Karen P Robards, and Henry Gabbay . You may opt-out by. Rick Rieder is less interested in social media sites like Twitter, Instagram, Facebook, YouTube, and TikTok.\, Read More: Belle Kirschner, Chloe Saxon, Candy Loving, Claire Cottrill. Steve Marcus/Reuters Bitcoin is "is here to stay," BlackRock's chief investment officer of fixed income Rick Rieder told CNBC on Friday. In 2008, after 21 years at Lehman, Rieder and his team spun out into a Lehman-backed hedge fund, R3 Capital. "It taught me that a great business can be made obsolete instantaneously by new technology," says Rieder, 54.

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