Bloomberg profiles BlackRock's Barbara Novick, who serves as the government liaison for the world's biggest asset management company. Novick, 49, had been with BlackRock for 20 years and had plans of retiring last year when CEO Larry Fink talked her into taking on the role of BlackRock's point person in Washington.

“I did not want a lobbyist who had little understanding of the asset management business,” Fink told the news service.

The article, citing Opensecrets.org, notes that outside of the mutual fund industry trade group Investment Company Institute, Fidelity and Vanguard were the two largest spenders on lobbying efforts, shelling out $2.9 million and $1.9 million, respectively. BlackRock, for its part, spent $390,000 last year. 

Edited by: Armie Margaret Lee


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