I am the only one who practices magic: I practice magic in the city

Chapter 392 A Woman with a Very Unique Personality (4124, too late, update it first)

Park Avenue Plaza, Manhattan.

BlackRock owns 12 floors of this building, and nearly three thousand employees come in and out of this commercial building built more than years ago every day.

"Jeffrey, why hasn't Qianxun's ESG audit report been approved yet? You know, this financing was approved at the executive committee meeting a long time ago, and it should have gone through all the procedures last week, but it has been stuck in your department for three days."

Robert Goldstein put the phone on the desk on speakerphone and spoke with Jeffrey Smith, BlackRock's global HRD and chief diversity strategist.

Jeffrey Smith can be considered a veteran of BlackRock. He has worked at BlackRock for ten years and previously served as HRD of Warner.

"Don't ask me. I haven't received the report yet. It's still under review by the DEI Strategy Department. You should ask Jane, oh, that woman from Da Zhou. She's still in charge of the approval process."

Jeffrey Smith shrugged and said to Robert Goldstein on the other end of the phone, "Besides, this woman is not from our department. The DEI Strategy and Development Department has been separated from me. You should ask the president directly. He is now directly in charge of DEI strategy."

Jeffrey Smith sounded relaxed, but people who knew him could still hear the resentment in his words.

More than 20 days ago, Robert Capito proposed an internal structural reorganization plan, splitting the ESG department into three independent departments: sustainable development, DEI, and corporate governance.

The external explanation is to strengthen BlackRock's ESG construction. As an ESG promoter, BlackRock should set an example in ESG construction.

The explanation given within the Executive Committee is to avoid excessive concentration of ESG power, which would breed "efficiency pests" within the organization and affect business.

Corporate governance remains in the hands of Jeffrey Smith, while sustainable development is handed over to Linda Robinson, global communications director.

As for the crucial DEI (diversity, equality, and inclusion) part of ESG, Robert Capito temporarily took on the role of head of the newly established "DEI Development Department" on the grounds that there is no suitable candidate yet.

Since this department had no director, the president, Robert Capito, became the direct reporting point of Jiang Nanzhen, who had just been transferred to the DEI Development Department as a senior manager.

Jane?

Robert Goldstein couldn't help but frown.

Ever since this woman went to the DEI Development Department, since there was no MD in this department, she became the de facto top person in charge of this department. She even represented the DEI Development Department in the monthly management meeting, which was second only to the regular meeting of the Group Executive Committee.

On the surface, this woman has no say in the business, but in reality her authority is ridiculously great.

The reason is BlackRock’s internal ESG report for each investment case.

In order to promote ESG, BlackRock will produce an ESG investigation report for all the companies it invests in. If the report fails, the entire case will be sent back for re-approval.

Currently, Qianxun’s 3 billion yuan private placement agreement is stuck on the ESG report.

Before this, ESG and DEI were actually tools used by BlackRock to influence other companies. If they encountered a case they really wanted to invest in, Jeffrey Smith's department would not even look at it and would directly approve it blindly. Therefore, they never thought there was anything wrong with this process.

But now, since the ESG split, although this woman is only responsible for a small part of DEI, she has made their business department very anxious.

The key is that you cannot publicly say that the other party’s entire foothold is based on BlackRock’s DEI requirements.

For example, regarding the DEI part of Qianxun's ESG report, Jiang Nanzhen expressed doubts about two points and needed clarification from the business team.

The first point is the issue of the ratio of male to female employees at Qianxun. Although Qianxun claims that it will equalize the ratio of male to female employees to 1.3:1 within five years and to 1:1 or 1.1:1 within ten years, there is no trackable equalization plan and action items.

Secondly, in Qianxun’s search results, especially in Qianxun’s own Qianjiahao, there are a large number of search results that are extremely discriminatory against groups such as LGBTQWER, and even contain a lot of hate speech against these groups.

There is evidence that Qianxun did not effectively manage these search results and comments, and even promoted them intentionally. Regarding this part of the content, the business team did not mention in the report how the investment plan would affect Qianxun's management in making improvements to this part of the content.

Goldstein didn't want to communicate with Jiang Nanzhen in person, but asked his subordinate Jason Hawthorne, who was in charge of the case, to connect with Jiang Nanzhen.

In his opinion, the DEI department only gave this woman the opportunity to make trouble because the head of the department was temporarily vacant. She was just a small figure at the VP level and was not worth him communicating with personally.

As you can imagine, Jason Hawthorne was frustrated.

Goldstein nearly went crazy when he received Jason Hawthorne's report.

These are obviously the things we use to block other companies, so when would our own business be blocked because of these things?
"Boss, there are big problems with the operation of the DEI department at present. It has seriously slowed down our business efficiency. I think...Oh~you are here too?"

Without thinking twice, Goldstein knocked on Robert Capito's office door and walked in.

As soon as he entered the room and saw Jiang Nanzhen sitting opposite Robert Capito, Goldstein was stunned and swallowed the second half of his words involuntarily.

"Oh? If I remember correctly, Mr. Goldstein is also a member of the DEI committee and one of the initiators. Don't you really support the promotion of DEI?"

Jiang Nanzhen, who was wearing a goose yellow cheongsam, covered her mouth and chuckled.

"Since you are here with the boss, that's great. I'll make it clear in front of the boss. Maybe Jason didn't explain it to you clearly before. Listen, ESG or DEI are tools that meet the needs of the business department. I hope that in the future, you can cooperate unconditionally instead of using DEI as a banner to hinder business development like you are doing now."

Goldstein pulled out a chair and sat down on it unceremoniously.

Robert Capito couldn't help but frown.

"Rob, what's going on?" Robert Capito straightened his tie unconsciously. Since Jiang Nanzhen joined BlackRock, he has paid more attention to his image than ever before.

"It's the 3 billion Mai Yuan private placement of Qianxun." Robert Goldstein raised his chin. "The system has been stuck with her for three days! Madam, I hope you understand that this is Maiguo, BlackRock, not Da Zhou. Please don't bring that kind of management style here. It's not good for you. If you want to have your own career development in BlackRock, please remember my words."

"Jane, I know you have some relationship with Yuzu Technology, but business is business. If you can't maintain sufficient professionalism, I can only ask you to recuse yourself from this case."

Goldstein tapped the table lightly, with a hint of disdain in his eyes.

Hearing Goldstein's question, Jiang Nanzhen couldn't help but reveal an aggrieved expression and looked at Robert Capito.

Robert Capito was distressed, but he remained calm on the surface: "Jane, is this true? This has indeed been approved by the Executive Committee. If there are no major problems, pass it as soon as possible.

"Well, Rob, Jeffrey has already done the background check on Jane. She has no direct relationship with Yuzi Technology, and she doesn't have a good relationship with the founder of Yuzi Technology."

Robert Capito coughed and took the initiative to speak for Jiang Nanzhen.

Jiang Nanzhen looked aggrieved. "Of course I can approve it. However, I need to explain to Mr. Goldstein first that I did not approve this report. It was not because of the DEI issue, nor because of my relationship with Youzi Technology. It was based on my understanding of Qianxun. I don't think this is a good deal. Therefore, I hope the business department will be more cautious about this."

"Currently, half of the DEI department's work needs to be reported to Bennett, who is in charge of risk control. Faced with such risks, I have an obligation to remind the business department to pay more attention." Goldstein couldn't help but feel angry and amused when he heard this.

Where did this crazy woman come from?

You know nothing.

You're actually discussing business issues in front of us?
Are you qualified?
Be your vase!

Even Robert Capito, who sided with Goldstein on the surface but actually had Jiang Nanzhen in his heart, felt that what Jiang Nanzhen said was a bit too outrageous.

Not to mention the restraining value of Qianxun to Youzi Technology, just looking at Qianxun's current stock price, this deal must be a good deal.

What's more, BlackRock has enough financial tools to hedge risks.

As long as Qianxun doesn't die suddenly, they will have enough time to operate and ensure the safety of their own funds.

"In the report, I didn't see the business department give a root cause explanation for the previous Qianxun downtime crisis, and no one has come up with a solution from a management and technical perspective to prevent similar problems from occurring in the future." Jiang Nanzhen said seriously, as if she didn't see the expressions of the two people.

Goldstein couldn't help but laugh when he heard this. Do you think Chihiro is a small company?
For a company like this, any technical problems will be solved during the four-day downtime. As long as Qianxun restores access, it means that this technical loophole will definitely be made up!

This is the technical background of large companies.

"I don't think there is any need to worry about this. It's impossible." Goldstein chuckled and didn't explain at all.

"Really? Mr. Goldstein, if possible, please confirm again with the risk control department. I used the Woking system to summarize all the public reports from Bloomberg, Aladdin, and the media. From the time the incident occurred until now, Qianxun has never publicly stated what kind of technical loopholes it encountered and how it resolved this crisis."

"The Woking system has determined the risk of this private placement to be 'high'."

Goldstein lost his patience. “Ms. Jiang, this is not your concern, and it is not within your job scope. Besides, I don’t think the current AI can make more accurate judgments than BlackRock’s risk control specialists who earn hundreds of thousands of dollars a year.”

Jiang Nanzhen pursed her lips and said, "Well, it is true that I have crossed the line. I will approve this report immediately."

"But, Mr. Goldstein, Boss, I still reserve my own opinion."

After saying that, Jiang Nanzhen stood up holding the folder and left Robert Capito's office with a shaky step.

Robert Capito couldn't help but stare at Jiang Nanzhen's back, mesmerized.

"I think this woman is totally unqualified to sit in this position." Goldstein frowned and glanced at Jiang Nanzhen's back with disgust. Then he turned his head and said to Robert Capito, but found that Robert Capito didn't seem to be listening to what he said at all.

"Boss?" Goldstein frowned, suddenly feeling that something was wrong with Robert Capito, but he couldn't put his finger on it.

"Ah?" Robert Capito came back to his senses and smiled nonchalantly, "A woman with a unique personality, isn't she?"

Goldstein's heart suddenly sank.

Could it be that……

How can it be?

Goldstein felt that his sudden idea was a little ridiculous.

This is Robert Capito.

The coldest-blooded, most professional and greedy capitalist in the entire BlackRock.

How could Robert Capito, who had no interest in anything except making money since he was twelve years old, have not seen all kinds of women? How could he be attracted to such a woman?
-
Qianxun issued 30 billion ADS shares to BlackRock through private placement!

As soon as this news was announced, it caused an uproar in the capital market.

For more than a month, Qianxun's senior management has been living in fear every day, fearing that they would wake up one day to find that the company's cash flow was cut off, and then go bankrupt and lose their jobs.

Robert Lee was so anxious that he got ulcers in his mouth.

The arrears of payments to unimportant suppliers can be delayed, but the payment of fees to so many people every day is inevitable.

There are still so many hardware operation and maintenance costs that need to be paid. Many suppliers are exclusive and don’t care whether Qianxun is a customer or not. If you don’t pay, they will really not deliver the goods.

But the problem is that Qianxun’s current cash flow is too weak.

It was previously estimated that the cash flow could be maintained for two and a half months. However, in actual operation, due to various emergencies, it can now only last less than two months!

After all, many suppliers and creditors had heard about Qianxun's cash flow crisis and began to rush in to demand repayment, which constituted a de facto bank run and undoubtedly made Qianxun's cash flow even worse.

If Qianxun's cash flow situation is not alleviated within two months, it will be like a broken drum being beaten by everyone, and by then, even if it doesn't die, it will be skinned alive.

But now, all problems have been solved.

With this 3 billion Malaysian dollars as a foundation, Qianxun’s cash flow can be sustained for at least ten months!
When the debt collectors hear this news, they will definitely not be so aggressive. Chihiro's chess game will be alive again!

In order to publicize the news that Qianxun’s cash flow crisis had been resolved and to raise its stock price, Qianxun and BlackRock held a signing ceremony at the Dazhou Hotel.

Robert heavily signed his name on the supplementary agreement and handed the agreement to Ryan Stock, the new head of BlackRock's Yatai region.

Although he gave up 21.66% of his shares, making BlackRock the largest shareholder with a % stake and holding two board seats, the voting rights are still firmly in his hands!

"Congratulations." Rainstock took the initiative to extend his hand to Robert Lee with a bright smile on his face.

"Congratulations, you made the right decision." Robert Lee had the same bright smile on his face, but he saw a sudden commotion in the press box.

Like a dog seeing a meaty bone.

what happened?

(End of this chapter)