Steve Baffico, a long-time fund executive at BlackRock, left the firm Friday last week, according to an industry source. We're hearing that Claymore Securities is looking for a new president and Baffico might just be the guy.

Claymore's president, Christian Magoon, left at the end of last year, a few months after Claymore was purchased by Guggenheim Partners.

Baffico could not be reached for comment. A Claymore representative was not immediately able to comment. A BlackRock spokesperson declined to comment.

Baffico spent 10 years at BlackRock, most recently in the role of managing director of closed-end fund distribution. BlackRock has not replaced him at this time, according to a company insider.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE