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BlackRock wields immense power as the world's biggest asset manager. This power comes from its ability to vote underlying shares in the companies they own on behalf of investors. When investors buy into BLK funds, they give up most voting power.pic.twitter.com/OD9czvHzgi

With $8 trillion in assets, BlackRock has become the top shareholder of most S&P 500 companies. While individuals don't normally do the research to vote their shares or coordinate with others, BlackRock spends considerable time doing so.pic.twitter.com/r8X1KFK7BM

This is where BIS comes in. This group is in charge of developing & executing BlackRock's vision through voting on shareholder proposals & director appointments. Their 45 person team engages with thousands of companies around the globe.pic.twitter.com/3cpOG1hYjO

BIS became much more active as a voting power in 2020. Total engagements with company boards were +48% in 2020 and assets engaged grew to 61% of total. This implies BlackRock can still become much more active with investor assets down the road.pic.twitter.com/iGGwZpSfsG

BlackRock's voting record is increasingly conflicting with management as well. Over a third of all BLK's engagements were against management proposals, particularly in Europe and Latin America:pic.twitter.com/MJE2nY02bZ

BIS follows a defined process to determine how & when to engage companies. The first stage - research & issue spotting - is arguably the most important & the most opaque.pic.twitter.com/ZVCprx3Sq1