Martin Small on operating expenses
From BlackRock Inc ($BLK) Q3 2025 Earnings Call · · Castify Earnings Call
“We've provided additional disclosure in our earning supplement on the contribution of performance fee related compensation to total expense. In line with our guidance in July, we continue to expect a low teens percentage increase in 2025 core GNA expense.”
On , Martin Small, Senior MD, Chief Financial Officer & Global Head of Corporate Strategy at BlackRock Inc, spoke about operating expenses during BlackRock Inc ($BLK) Q3 2025 Earnings Call on Castify Earnings Call.
About Martin Small
On BlackRock’s Q3 2025 earnings call, CFO Martin Small stated that the firm has been “focused on building capabilities that we anticipate our clients will need in the future while also implementing some of the largest and most multifaceted mandates in our history.” He noted that the iShares franchise crossed $5 trillion in assets during the quarter with record net inflows of $153 billion. Small also said the U.S. needs to “accelerate regulatory clarity and investments in digital assets innovation” and that the country should be “a leader in market infrastructure for much of the larger part of the world of digital assets.” During the call, Small discussed BlackRock’s efforts around tokenization and digitization of assets, saying the firm is “spending a great deal of time on the tech” and believes it can introduce younger investors to traditional assets through tokenized ETFs. He described digital wallets as a way to transform digital liquidity into retirement products, adding that the firm is in “deep conversations” and expects “exciting announcements in the coming years” regarding its role in tokenization.