Blackrock chairman and CEO Laurence Fink earned $21 million in compensation in 2008 compared with $28.34 million in 2007, according to a regulatory filing on Friday.

Blackrock is a New York-based asset manager with holdings of $1.3 trillion at the end of 2008.

Fink's salary was $500,000 with a bonus of $17.15 million, in addition to $3.34 million linked to a five-year reward program.

His 2007 bonus was $24.5 million with the same salary and reward program.