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Rating:Fink Invites More Cooks into His Kitchen Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 07, 2014

Fink Invites More Cooks into His Kitchen

News summary by MFWire's editors

BlackRock is looking to the future, again, this time with a significant re-shuffling of talent in the C-Suite.

The moves, announced Sunday, were covered copiously by financial news outlets such as the Wall Street Journal; Bloomberg; Financial Times; Reuters; CNBC; FundWeb, and the New York Times.

The world's largest asset management is preparing for changes on the horizon, apparently:

In an internal memo to employees published by the New York Times:

One of the keys to BlackRock’s success – past and future – is developing people and embedding our culture. For the past five years, together with the Board, we have pursued a deliberate effort to build a deep bench of executive talent by mapping leaders to roles that present them with new challenges, broaden their horizons and maximize their impact with the firm and our clients. Periodically moving leaders to new roles as part of this process was a key rationale for the re-organization of the firm in 2012 and is a key driver of the management changes we are announcing today.

For example, former COO Charlie Hallac has been promoted to co-president of BlackRock as of June 1. Rob Goldstein, currently Global Head of BlackRock’s Institutional Client Business (ICB) and BlackRock Solutions (BRS), will become chief operating officer.

Numerous other executives have been promoted or moved around to other locations or functions.

What big moves does BlackRock have on the horizon, or is it just preparing for the natural cycle of life? What can we learn from them now? 

Edited by: Tommy Fernandez


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