Legion of honor: BlackRock boss promotion criticized

In full mobilization against the pension reform, this appointment does not pass. The boss of the French branch of the American financial giant BlackRock has been elevated to the rank of officer of the Legion of Honor. Jean-François Cirelli is indeed among the people in the civil promotion of the Legion of Honor for the New Year this year. This had the gift of annoying opponents of the pension reform, who accuse the company BlackRock of wanting to influence it to its advantage.

The announcement did not fail to react to the unions, CGT in the lead. “January 1, 2020, Jean-François Cirelli, the French boss of the largest pension fund in the world BlackRock France appointed, by EMMANUEL Macron, to the rank of officer of the Legion of Honor… ANY SYMBOL! Reacted the union on Twitter, where the news was extensively commented.

January 1, 2020, Jean-François Cirelli, the French boss of the largest pension fund in the world "BlackRock France" appointed, by EMMANUEL Macron, to the rank of officer of the Legion of Honor ... ANY SYMBOL! pic.twitter.com/umSklFoNyd

Company accused of influencing government

Little known until then by the general public, BlackRock was talked about during the mobilization in France against the government's plan to reform pensions, to now adorn placards brandished during demonstrations.

The powerful asset manager was thus accused of asserting before the executive the funded pension scheme, on the model of American pension funds, to the detriment of the current French pay-as-you-go system, which he defended himself recently in a press release published by its French subsidiary.

"In no way did we seek to exert an influence on the reform of the pay-as-you-go pension system underway with the authorities or any other actor in the sector," assured BlackRock.

A "provocation"

Many political figures have also expressed outrage at the appointment. "Macron displays the color for 2020 by decorating the Legion of Honor ... the President of the pension fund giant #BlackRock! A great provocation in full social mobilization on #retraites - is that its appeasement strategy? "Tweeted France's Insoumise MEP Manon Aubry.

On the side of the Communist party, one is also indignant: “Jean-François Cirelli, president of BlackRock France, is promoted Officer of the legion of honor in this January 1st. As a reward for pillaging our PAYG pensions? Reacted the party on its official Twitter account.

Jean-Francois Cirelli, president of #BlackRock France, is promoted to Officer of the Legion of Honor on January 1st.
As a reward for pillaging our PAYG pensions?

On the right, the Rassemblement national also reacted to this appointment: "In the middle of shaping our retirement system with #reformedesretraites, #Macron has appropriately decorated the France boss of the #BlackRock investment fund, Jean-François Cirelli, from the Legion of Honor. But it obviously has nothing to do with anything, "tweeted Jean Messiha, a member of the party's national office.

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Nicolas Dupont-Aignan, him, evoked the "arrogance" of the government, which he judges "corrupt".

Their arrogance is limitless! On this January 1st, JF. #Cirelli boss of #BlackRock France (American pension fund, 1st beneficiary of the #retraites reform) is high officer of the Legion of Honor. To the great misfortune of the French, this power is corrupted! pic.twitter.com/yUdyGYTSQw

For its part, the former president of Medef Laurence Parisot took the defense of Jean-François Cirelli, evoking on Twitter a "servant of the State, in particular at the side of Jacques Chirac".

1) Blackrock continues to invest in France, it is even a solid support of many French companies 2) It is not strictly speaking a pension fund
3) Jean-Francois Cirelli was a real servant of the State, especially alongside J. Chirac https://t.co/3vf61XyzbG