BlackRock's assets hit a record high $11.6 trillion in the fourth quarter of last year as the world's largest money manager posted a 21% profit jump, with fee income buoyed by stronger equity markets.

BlackRock said in its fourth-quarter earnings report Wednesday that assets under management jumped to a record $11.55 trillion, up from $10 trillion a year ago. Analysts surveyed by FactSet had expected BlackRock to report a record $11.

BlackRock’s profits rose and assets under management edged up to a record $11.55 trillion in the fourth quarter. BlackRock posted net income of $1.67 billion, up 21% from the same period a year earlier.

BlackRock Inc. is elevating several senior executives to expand its business in the Americas and with key institutional clients, following the announced departure of Mark Wiedman, once seen as a potential successor to Chief Executive Officer Larry Fink.

Asset manager BlackRock's senior executive Mark Wiedman, who was touted to be a potential successor to CEO Larry Fink, is departing the firm, said two sources familiar with the matter.

Mark Wiedman was most recently head of BlackRock’s global client business

OpenAI has appointed BlackRock Inc. executive Adebayo Ogunlesi to its board of directors, drawing on his experience investing in infrastructure as the startup pushes for more data

As OpenAI pushes toward a for-profit structure, the company is adding Adebayo Ogunlesi, founding partner of Global Infrastructure Partners, to its board.

OpenAI includes Blackrock Inc. executive Adebayo Ogunlesi on its board of directors. The AI startup is hoping to use his expertise to advance the development of its AI infrastructure.