But as President Emmanuel Macron presses ahead with a controversial campaign to overhaul the French economy, the company has become a favorite target for growing anticapitalist sentiment.They point to a measure that would cut pension payroll taxes on people earning more than €120,000 annually — less than 1 percent of France’s work force — and encourage them to invest in private pension funds.The protests escalated with the action on Monday morning, when environmental activists who allege French workers’ pensions could be directed by BlackRock stormed the company’s offices.The news lit up social media and triggered a fresh storm of criticism that the American fund was too cozy with Mr. Macron, and would profit from the pension changes.Constant Méheut contributed reporting.Such actions have done little to placate the company’s growing cadre of critics in France, where it manages 27 billion euros in assets for local clients and invests over €185 billion, or $200 billion, in French equities and corporate and government bonds.“By attacking BlackRock, we’re attacking capitalism,” the group said.Addressing the National Assembly, Olivier Marleix, a conservative lawmaker from the party Les Républicains, said the proposal would divert money away from France’s social safety net. The spirit of the Paris Agreement is all actors – from governments to businesses to philanthropies to citizens – coming together to combine and align their efforts towards our common goal of preventing dangerous climate change. BlackRock enjoys ties with the Macron administration, as evidenced by the appointment of its French representative (Jean-François Cirelli) to a French government panel known as the CAP22. Mr. Martin said he was among the first wave of protesters to storm BlackRock France’s headquarters in January.There is no evidence that BlackRock influenced Mr. Macron to push retirement savings to it or any other financial giant, although financial firms could get some business from part of the pension overhaul that encourages high earners to invest in stocks.In the meantime, more demonstrations have been called, including new strikes and protests on Thursday.
And they fear the huge Wall Street firm — its $7 trillion under management is more than twice France’s economic output — is working behind the scenes to pick apart the country’s system of social protections.Just a few months ago, BlackRock, the U.S. money-management giant, was barely known to the general public in France.
'The BlackRock HQ in Paris was stormed by anti-government protesters who vandalised the building and dumped red paint across the floorA giant Anarchist symbol was pained on the floor in red paint when demonstrators smashed their way into the world's largest fund managing firmOutside the BlackRock offices demonstrators waved Anarchist flags and showed their support for climate change groups such as Extinction RebellionIt is the latest in a series of violent incidents carried out by opponents of Mr Macron's pension reforms.The mob tried to organise a sit-in, but Republican Security Guard (CRS) riot police then arrived and forced them out of the building.
“BlackRock’s business will thrive in France.”Youth for Climate France, one of the groups that ransacked the offices on Monday, said in a statement that the protests were “symptomatic of capitalism, which is at the origin of these problems.”“You have Larry Fink meeting with President Macron,” he added.
Macron has already been in talks with Black Rock about privatising pensions- could not go much morally lower than that. Papers had been scattered around the floor, and slogans such as 'The Yellow Vests Triumphant' written on walls.The mob called for President Emmanuel Macron to resign then forced their way in to the upmarket Centorial building and began to vandalise the propertyWe are no longer accepting comments on this article.The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.Despite the criticism in France, BlackRock has repeatedly denied that it lobbied for the pension changes.Two years ago it was revealed that former British Chancellor George Osborne was earning £650,000 a year for working for four days a month at BlackRock.This referred to the French anti-government group best known for their trademark bright yellow road jackets.Published by Associated Newspapers LtdBlackRock's involvement in most of the world's listed companies has turned it into a prime target for anti-establishment anger.The comments below have not been moderated.The demonstrators were waving Anarchist flags, as well as ones denoting ecological groups such as Extinction Rebellion.Part of the Daily Mail, The Mail on Sunday & Metro Media GroupProtesters also blocked entrances with furniture, creating barricades to prevent police and security guards getting to them. Le fonds d'investissements américain BlackRock ne s'attendait peut-être pas à cette attaque. Le monde de Macron: BlackRock, la légion d'honneur qui passe mal !
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