Peter Fisher is stepping down from his role as head of fixed income investing at BlackRock, to become a senior director at the BlackRock Investment Institute.

Citing an internal memo, a number of news outlets reported on the news. Those outlets included: the Wall Street Journal, the San Francisco Chronicle, the Reuters, Financial Times, and BusinessWeek.

In the wake of his sideways movement, Rick Rieder and Kevin Holt will formally become co-heads of the firm's Americas fixed-income operations. Tim Webb will still run Asian and European efforts. All three will report to Quintin Price, head of alpha strategies. 

Edited by: Tommy Fernandez


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