] ambition to double its U.S. retail business by 2014 continues to garner attention from the press.
In a story
published yesterday, Reuters'
Aaron Pressman interviewed BlackRock's U.S. retail boss, Frank Porcelli
, who outlined BlackRock's strategy for growing the business. Porcelli granted a similar interview
| Frank Porcelli|
Managing Director and Head of U.S. Retail
BlackRock's U.S. retail business counted $300 billion in AUM at the end of 2010.
Porcelli plans to double the business by expanding the sales force, increasing sales to brokers and financial advisors, ramping up its presence in the 401(k) market, and crafting customized investment programs for wealthy investors utilizing separate accounts.
Porcelli will increase his team's headcount this year by 15 percent, Reuters reports.
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