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Thursday, April 07, 2011

BlackRock Sees Changes in the Boardroom

Reported by Armie Margaret Lee

There's been some changes in the boardroom at BlackRock [see profile] in the wake of the reduction of Bank of America's stake in the New York City-based asset management giant.

Thomas Montag, president of global banking and markets at Bank of America, is now part of BlackRock's board of directors. Meanwhile, Sallie Krawcheck, BofA's president of global weath and investment management, and BofA corporate treasurer Mark Linsz have both left the board.

Montag is now the sole BofA executive on BlackRock's board, according to a BlackRock spokesperson.

BlackRock's board consists of 18 people, 11 of whom are independent directors. 

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