A top iShares [profile] executive is leaving BlackRock [profile], even as the reins of the giant asset manager's overall retail business are changing hands.

Martin Beaulieu BrightScope Advisor

MFWire has learned that Marty Beaulieu left iShares last month after more than three years with the company. His roles had included: co-head of iShares' US ETF business and head of iShares' wealth management business; head of the global client and sales excellence program; and head of the leveraged distribution group.

A spokesman for BlackRock was not immediately able to comment for this story.

Beaulieu's departure comes after BlackRock chief Larry Fink and retail and iShares chief Rob Fairbairn informed the BlackRock team that corporate strategy chief Salim Ramji would be succeeding Frank Porcelli as head of U.S. wealth advisory. Porcelli became chairman of U.S. wealth advisory.

Meanwhile, as reported last week by our sister publication, 401kWire, Beaulieu is joining the advisory board of BrightScope, which specializes in data on FAs, mutual funds, and 401(k) plans.

An alumnus of Santa Clara University, Beaulieu spent 22 years at MFS before joining BlackRock in July 2012. Prior to MFS, he was a wholesaler for fixed income annuities and alternatives managers (in energy and real estate). Per his LinkedIn profile, he also worked as a drilling fluids engineer on oil wells in Saudi Arabia. 

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