Susan Wagner

Susan Wagner is a co-founder of BlackRock and a pioneering figure in the development of the firm's corporate governance and ESG frameworks. Starting her career as a financial analyst, Wagner played a crucial role in the early development of BlackRock's risk management systems and later became the firm's lead liaison to the board of directors. She has been a vocal advocate for board diversity, sustainable business practices, and the integration of long-term environmental and social factors into capital allocation decisions.

Susan Wagner stands as a foundational pillar of BlackRock's corporate architecture and a pioneering voice in the evolution of modern corporate governance and sustainable investing. Joining the firm in its earliest days as a financial analyst, Wagner quickly distinguished herself through her analytical rigor and her deep understanding of the structural mechanics of the capital markets. She was instrumental in the early development of BlackRock's risk management systems, working alongside Larry Fink and Barbara Novick to build the quantitative models that would eventually evolve into the Aladdin platform. However, Wagner's most profound impact on the firm and the broader financial industry has been her leadership in the realm of corporate governance and ESG (Environmental, Social, and Governance) integration. Recognizing that the world's largest asset manager possessed unprecedented voting power and influence over corporate behavior, Wagner championed the development of BlackRock's Investment Stewardship team. She authored many of the firm's foundational policies on board diversity, executive compensation, and climate risk disclosure, arguing that long-term financial returns were inextricably linked to the sustainable practices of the companies in which BlackRock invested. Wagner's influence extended far beyond BlackRock's internal policies; she became a key advisor to Larry Fink on his seminal annual letters to CEOs, shaping the global narrative around stakeholder capitalism and the role of corporations in society. Despite facing intense political backlash from both sides of the ideological spectrum regarding ESG investing, Wagner has remained a steadfast advocate for the principle that asset managers must consider all material factors, including environmental and social risks, when fulfilling their fiduciary duties. Her legacy is embedded in the very governance structures of the world's largest public companies, evidence of her vision that the responsible allocation of capital is the most powerful tool for driving positive societal change.