* BlackRock's Fink calls for better coordinated regulation
* BlackRock is world's biggest holder of bank equity, debt
ST GALLEN, Switzerland May 2 BlackRock Inc
, the world's largest money manager, plans to hire
another 300 lawyers to help it deal with fragmented global
regulation, particularly of banks.
"We're probably hiring another 300 lawyers and I'm not the
one being regulated, I'm not a bank," BlackRock Chief Executive
Laurence Fink told the St Gallen Symposium, an annual conference
at the university in the eastern Swiss town.
Fink noted his New York-based company was the world's
largest holder of bank equity and bank debt, so had to closely
follow tighter regulation of the financial industry in the wake
of the 2007-09 crisis when governments bailed out many banks.
"There is no consistent manner in which bank resolution will
be applied," he said. "It is a mess and we are trying to
constructively work with our regulators ... There is a need for
better global coordinated regulations."
The world's top banking regulatory body said last month over
half its members missed a January deadline set by global leaders
for introducing tougher rules to make banks
Some of the world's top financial centres such as Britain,
Germany, France and the United States have yet to finalise or
introduce their rules based on an accord world leaders endorsed
over two years ago.
In March, BlackRock told staff it would reduce headcount by
nearly 300 employees, or about 3 percent, according to an
internal memo obtained by Reuters.
The cut is part of a reorganisation that began last year,
although BlackRock executives have said they expect to end 2013
with more employees than they have today as they selectively add
managers and salespeople.
(Reporting by Emma Thomasson; Editing by Mark Potter)