A co-founder of BlackRock [profile] is stepping back. Yet she's not leaving just yet.

Barbara Goldman Novick BlackRock Vice Chairman, Co-Founder

Barbara Novick, the giant asset manager's 59-year-old vice chairman, will step down from her day-to-day duties, Reuters, the Financial Times, and the Wall Street Journal report, citing a company memo sent this morning to employees at the giant asset manager. Word is that Novick won't step back until they find a successor, and even then she's stay on as a senior advisor to the company.

Novick has been with the New York City-based firm since the beginning in 1988, when she co-founded it alongside seven others (including CEO Larry Fink). She led the global client group for 20 years, and more recently she has overseen the firm's public policy and investment stewardship efforts. She is an alumna of Cornell.

Stay tuned for more updates as this story develops ... 

Edited by: Neil Anderson, Managing Editor


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